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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIceland indicts more banksters
from the NY Times:
The former chief executive and former chairman of the failed Icelandic lender Kaupthing Bank were indicted on Wednesday on charges of fraud and market manipulation.
Hreidar Mar Sigurdsson, the banks former chief executive, and Sigurdur Einarsson, the former chairman, are expected to stand trial at the beginning of March in Iceland, their lawyers said. The court hearings could last for several months. Both men have pleaded not guilty to the charges.
The indictments are the latest step by Icelands special prosecutor to investigate the executives behind the 2008 collapse of Kaupthing, which crippled the countrys banking system and paralyzed its economy.
During the boom years, Kaupthing and other Icelandic banks expanded far beyond their small domestic market, relying on Icelandic authorities and others to finance their efforts. Then the credit crisis hit, and Kaupthing crumbled under the weight of its $50 billion debt load, leaving creditors in the lurch. ...................(more)
The complete piece is at: http://dealbook.nytimes.com/2012/02/22/2-former-executives-of-failed-icelandic-bank-charged-with-fraud/
DCKit
(18,541 posts)Here's hoping it turns into a worldwide epidemic.
sendero
(28,552 posts).... that we need. Send a few banksters to prison for a couple of decades and this shit will stop in a hurry. Or not, but it will be satisfying at least.
malaise
(267,808 posts)Until the real scoundrels and those who have enabled them are locked up, they will continue to loot and plunder the planet.
xchrom
(108,903 posts)Paper Roses
(7,468 posts)does not seem to want to follow this good example.
Are we afraid of what we might find under the rug?
WillyT
(72,631 posts)Rex
(65,616 posts)Holyshit! I'm sure America will be dead last if they ever make a list of countries that follow suit.
AnotherMcIntosh
(11,064 posts)sabrina 1
(62,325 posts)Wikileaks released whistle-blower info on Kaupthing Bank, and rather than attack Wikileaks, Iceland appreciated the info and acted on it. Crimes were being committed, just like here, but look at the difference in how they handled it. Assange is a hero to Iceland for helping uncover the corruption there. That's because they do believe in the rule of law. This country has become a lawless place for wealthy criminals and powerful officials. They are immune.