How did Iceland clean up its banks?

[darkbeaver]

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^ Feb 10 09:32

How did Iceland clean up its banks?


The 2008 global financial crisis hit Iceland hard. The currency crashed, unemployment soared and the stock market was more or less wiped out.
But unlike other Western economies, the Icelandic government let its three major banks - Kaupthing, Glitnir and Landsbankinn - fail and went after reckless bankers. Many senior executives have been jailed and the country's ex-prime minister Geir Haarde was also put on trial, becoming the first world leader to face criminal prosecution arising from the turmoil.

Read more: whatreallyhappened.com WHAT REALLY HAPPENED | The History The US Government HOPES You Never Learn!
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[damngrumpy]

Its one thing to demonstrate action in a case like this but Iceland actually threw them
in jail and we need to do the same to bankers and stock brokers in the market place
that show the disregard the folks in 2008 did.
We need to send senior board members and others to prison and take their personal
bank accounts and assets to pay the people they shafted in the future. No bonus no
fines hard time in prison. We would then see change.

 

[darkbeaver]

It is very strange when these financial criminals walk away from wreck after wreck unscratched.

 

[captain morgan]

Many senior executives have been jailed and the country's ex-prime minister Geir Haarde was also put on trial, becoming the first world leader to face criminal prosecution arising from the turmoil.

They used to burn witches in Salem.... Pretty sure that it helped keep the banks in line

 

[MHz]

Are you suggesting that bankers are witches or that we sacrifice somebody other than bankers as the best way to bring the bankers back to being honest folk?

 

[captain morgan]

... No

 

[petros]

They used to burn witches in Salem.... Pretty sure that it helped keep the banks in line

Nice analogy. Did you know it was pubescent girls who falsley accused older gals of being witches to ensure they would be married off?

Who pointed fingers at whom in Iceland? Pubescent wannabe Bankers?

 

[captain morgan]

Funny how the collapse of the Icelandic economy had nothing, nada, zero, to do with the gubmint spending wads of cash on da peeple.

.. Just those terrible bankers.

On that note, I don't recall hearing about how those banker folk were living in the highest of style, you know, multiple homes, half a dozen 6 figure cars, private jets, hookers, blow, etc, etc.

 

[Curious Cdn]

It is very strange when these financial criminals walk away from wreck after wreck unscratched.

Trump is one of those, BTW. Four bankruptcies ....

 

[petros]

It's illegal to go bankrupt?

 

[Curious Cdn]

It's illegal to go bankrupt?

No, but every time that you do, you are stealing/evaporating some one else's money. Do it four times in a row and most of us would not be allowed to have a pot to piss in.

 

[darkbeaver]

They used to burn witches in Salem.... Pretty sure that it helped keep the banks in line

So how much do you owe the banks?

Funny how the collapse of the Icelandic economy had nothing, nada, zero, to do with the gubmint spending wads of cash on da peeple.

.. Just those terrible bankers.

On that note, I don't recall hearing about how those banker folk were living in the highest of style, you know, multiple homes, half a dozen 6 figure cars, private jets, hookers, blow, etc, etc.

The Icelandic war on financial crime in Iceland worked as perfectly as the law designed it to. It is a matter of great record and study crime was the problem the law and the victims determined legally.

 

[petros]

No, but every time that you do, you are stealing/evaporating some one else's money. Do it four times in a row and most of us would not be allowed to have a pot to piss in.

But still crime free.

 

[darkbeaver]

No, but every time that you do, you are stealing/evaporating some one else's money. Do it four times in a row and most of us would not be allowed to have a pot to piss in.

They would have to sell their organs to survive?

 

[petros]

What were they charged with and how does it relate to 08?

In your own words please.