Iceland's bailout

I'm glad I got to see Icleand in it's glory days, i.e. 10 months ago, when I was there for New Year's Eve. As is often the case with small countries, it looks like it's the IMF to the rescue for these guys.

http://www.nytimes.com/2008/10/21/business/worldbusiness/21iceland.html?_r=1&hp&oref=slogin

Interestingly, if you run the numbers, the IMF loan alone is basically $18-20,000 for every person in Iceland. And the government says more loans are coming after the IMF deal is done.

Really? They'll need more than $20K for every person in the country? And we thought the US was screwed. Our bailout plan is roughly $2,000 for every person, a tenth of Iceland's so far.