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AdamT
05-13-2010, 09:08 AM
Amazing. Iceland gets it!


REYKJAVIK — More than a year and a half after Iceland's major banks failed, all but sinking the country's economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.

Since Iceland's three largest banks -- Kaupthing, Landsbanki and Glitnir -- collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.

But the publication last month of a parliamentary inquiry into the island nation's profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken "inappropriate loans from the banks" they worked for.

On Wednesday, the administrators of Glitnir's liquidation announced they had filed a two-billion-dollar (1.6-billion-euro) lawsuit in a New York court against former large shareholders and executives for alleged fraud.

"I think this lawsuit is without precedence in Iceland," Steinunn Gudbjartsdottir, who chairs Glitnir's so-called winding-up board, told reporters in Reykjavik.
Full article
http://rawstory.com/rs/2010/0513/bankers-jailed-sued-iceland-seeks-culprits-crisis/

Krugerrand
05-13-2010, 09:20 AM
Nice story. My browser keeps bouncing me to an empty reply screen ... so here's the story at another link if anybody has the same problem:
http://www.google.com/hostednews/afp/article/ALeqM5hkg5VhwETJHWaiIqxwwj_PsHQ2Dg

ChaosControl
05-13-2010, 09:42 AM
Bernanke should be jailed.

tpreitzel
05-13-2010, 09:51 AM
Amazing. Iceland gets it!

Full article
http://rawstory.com/rs/2010/0513/bankers-jailed-sued-iceland-seeks-culprits-crisis/ (http://rawstory.com/rs/2010/0513/bankers-jailed-sued-iceland-seeks-culprits-crisis/)

Interesting, indeed ... but the Icelanders aren't innocent for living beyond their means.

HOLLYWOOD
05-13-2010, 10:03 AM
US government "PROTECTS" their Master Bankers and Fraudsters.

Bern
05-13-2010, 10:05 AM
... and they would have got away with it too, if it hadn't been for those meddling kids!

NewFederalist
05-13-2010, 10:11 AM
Interesting, indeed ... but the Icelanders aren't innocent for living beyond their means.

Absolutely correct. They played the game but with a small currency so the clock just ran out faster. After a few more "enlightened" European nations collapse (like Greece, Portugal, Spain, Italy etc.) the media MIGHT pick up the story but even then is will be spun as "it can't happen here".

Linus
05-13-2010, 10:18 AM
Interesting, indeed ... but the Icelanders aren't innocent for living beyond their means.


Not one among us is innocent of that.

LibForestPaul
05-14-2010, 06:06 PM
Interesting, indeed ... but the Icelanders aren't innocent for living beyond their means.

Icelanders, Greeks, Americans, and all those not in the top 1% have never and continue to live well below their means.

LibForestPaul
05-14-2010, 06:09 PM
Stop believing the world is poor.
The world is a bounty of natural resource, the human mind is infinite in its abilities, all peoples could live wonderful lives, far beyond what those in the 1st world and especially those in the 3rd world live today. But they will have to fight for it, for their are those who do not believe in liberty for all.