Home > Uncategorized > First Icelandic Banksters Thrown In Slammer

First Icelandic Banksters Thrown In Slammer

All,

In Iceland, it would seem that the government regulates the banks.  And so when the banksters misbehave, they go off to the hooskow.

In the United States, the banksters regulate the government, so when the banksters misbehave, our illustrious president simply asks, “how can I help?”

Makes me want to move to Iceland, and I would, if the weather weren’t so awful and it weren’t so hard to get a residence visa there.

Scott

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2 ex-Landsbanki executives arrested in Iceland in connection with bank’s spectacular collapse

By GUDJON HELGASON, Associated Press

http://www.startribune.com/business/113578424.html

REYKJAVIK, Iceland – Two former senior executives with Iceland’s failed Landsbanki bank have been arrested over allegations of market manipulation, the special prosecutor’s office said Friday.

Prosecutor Olafur Hauksson said he had asked that ex-Landsbanki chief executive Sigurjon Arnson and former head of corporate finance Ivar Gudjonsson be detained in connection with investigation into the collapse of the institution. It’s one of several Icelandic banks that failed in 2008 under the weight of enormous debts racked up during the tiny North Atlantic nation’s boom.

The two were brought in for questioning Thursday and remained in custody Friday. A judge at Reykjavik’s district court was due to rule on their continued detention later. Five other Landsbanki executives also were questioned by investigators Thursday, although it was not immediately clear why they were released while the other two were held.

Halldor Kristjansson, who was Arnson’s co-chief executive, also is wanted for questioning and was expected back in Iceland from Canada in the coming days.

Icelanders are still struggling to emerge from the banking collapse that wrecked their economy, sent their currency into a tailspin, and forced out the country’s then-leaders.

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