"government seizure of Iceland's second largest bank wiped out the $1.1 billion ...

		pchristensen on Dec 31, 2008 \| parent \| context \| favorite \| on: Billionaire Blowups of 2008 "government seizure of Iceland's second largest bank wiped out the $1.1 billion fortune of Gudmundsson, the bank's chairman and biggest shareholder" http://news.ycombinator.com/item?id=414491

So that's why you diversify :).