Kaupthing was the poster child for confusing audacity and financial nous with reckless growth and easy credit, says Investoralist on Twitter, and links to this brilliant must-see video.
Blogger Ultimi Barbarorum describes it thus: "Mildly tragic promotional video from Kaupthing Bank, back when Iceland was in the process of leveraging itself into, well, whatever it is now. Forget Lehmans and Bear Stearns, Kaupthing was the real poster child for the debt bubble of the mid Noughties. On Acid."
Problem is, I'd really like to believe this video. I've previously said Icelandic investment group Baugur's newspaper adventure reads like classic tale of hubris and nemesis, but I must admit that when I was younger I always used to think nemesis was rather unfair. In my mind I've archived nemesis as unjust punishment meted out by capricious gods to stop humans or other creatures, like Promotheus, from striving to be more than what they are, for enlightenment etc. But the financial mess on Iceland was very much a man-made mess, no divine retribution involved there. In retrospective, this line from the promo video explains it all:
Kaupthinking is beyond normal thinking