Icelandic Supreme Court: all nine top bankers are guilty of market manipulation


#1

Originally published at: http://boingboing.net/2016/10/11/icelandic-supreme-court-all-n.html


#2

Iceland? Shouldn’t they be wearing swan dresses?


#3

It’s too bad our ‘trade deficits’ don’t include importing justice from Iceland.


#4

They tried once. It melted before it could be delivered.


#5

They should have demonstrates at least $1US was involved and demanded a trial here. Profit!


#6

sad trombone


#7

Hang on… Iceland has 9 banks?


#8

Well, they have had 9 bankers…maybe they all worked at the same bank? :wink:


#9

Seriously is it possible to love Iceland even more?

How is every other country affected by banking scandles not doing the same? I’m looking at you USA. Too big to FAIL? The problem is that they already failed due to corrupt practices, how about we root those out instead of giving them a free pass, so that we don’t repeat the failure. So frustrating…


#10

There were three big banks Kaupþing, Glitnir and Landsbanki all of which had been busy gobbling up smaller banks and savings institutions from the 1990s onwards. All three pretty much all imploded during the Crash - zombie Kaupþing became Arion Banki, Glitnir metastasised into Nýi Glitnir and hived off the domestic Íslandsbanki division from its undead bankrupt parent. Landsbankinn dumped its unprofitable parts in a quarry and re-emerged like a horror movie monster as Nýi Landsbanki.

The only people who really made out of the reorganisations are rebranding companies and logo designers.


#11

This makes no sense!

Where are the low-level employees who must have pushed management into these compromising moves?!?


#12

And for once good news from Germany: The highest court decided that the acquittal of some of our banksters has to be reversed!


#13

How about you actually look into Iceland’s outsize role in creating the crisis before you love them too much. And in Iceland’s case the banks were too big not to fail. They couldn’t have saved them regardless. The banking sector was bloated way beyond their capacity to do anything about. And then when they let them fail, foreign retail depositors were among those they screwed. And having stood by and profited while all that happened, now Iceland tries to come off all holier than thou because they scapegoat a few bankers. The whole country should go to jail.


#14

That is EXACTLY why they are holding the people responsible accountable, instead of giving them a free pass and letting them make the same mistakes again and again. Yes their banks made similar mistakes that many other countries did in this last crisis, only on a much smaller scale, but they are one of the few countries that didn’t cover over the consequences nor the accountability.

Is there a better alternative you’d suggest for how to handle the issue once it has happened?
Do you not agree that Iceland handled it better then any other country affected, if not which country handled it better and how?


#15

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