Wow.....Iceland.

[marmar]

AP via HuffPost:



REYKJAVIK, Iceland — Iceland's former Prime Minister Geir Haarde has been referred to a special court in a move that could make him the first world leader to be charged in connection with the global financial crisis.

After a heated debate Tuesday, lawmakers voted 33-30 to refer charges to the court against Haarde for allegedly failing to prevent Iceland's 2008 financial crash – a crisis that sparked protests, toppled the government and brought the economy to a standstill by collapsing its currency.

Haarde faces up to two years in jail if found guilty. The court, which could dismiss the charges, has never before convened in Iceland's history. A hearing date has not yet been set.

Haarde, ex-leader of the Independence Party, is no longer in parliament and stepped down from office last year following widespread protests and treatment for esophageal cancer. ..........(more)

The complete piece is at: http://www.huffingtonpost.com/2010/09/28/geir-haarde-indicted-iceland-financial-crisis_n_742800.html

[xchrom]

1. a look at what SHOULD happen. nt

[Solly Mack]

2. Wow

In America, people are convinced that an election equals accountability for crimes and abuses of power while in office.


Because everyone knows an election deters crimes and abuses of power by politicians.

[TBF]

3. The danger in this -

is that folks see it only as "bad actors" in the crappy play that is capitalism.

But the thing is - the ending never changes. We can charge these assholes (including Bush, which of course would bring some satisfaction), but there will always be new power-mongers to step up to the plate because it is in their economic interest to do so.

Granted that some are more greedy than others, not meaning to suggest that there aren't differences amongst people. But in the long haul when you have an inherently unequal system you are going to have the same problems repeat because there is really no other way for it to go.

[blindpig]

9. Yes indeed

Greed is but a symptom of the problem. In a social/economic system which encourages and rewards this sort of behavior it should come as no surprise that such behavior is rampant. The 'bad actors' are just unlucky, inept or overweening, they are but the tip of the iceberg.

[depakid]

4. More: Iceland refers former prime minister to court over bank crisis

Iceland's former prime minister has been referred to a special court, a development Tuesday that could make him the first world leader to be charged in connection with the global financial crisis.

Lawmakers voted 33-30 to refer charges against former prime minister Geir Haarde for allegedly failing to prevent Iceland's 2008 financial crash that toppled the government, brought protests and crippled the national currency.

The special court has never before been convened. The court handles cases in which the parliament, the Althingi, decides to act against ministers on their handling of duties.

More: http://www.theglobeandmail.com/news/world/iceland-refers-former-prime-minister-to-court-over-bank-crisis/article1730460/

...nice to see a nation taking steps toward accountability, rather than simply looking the other way, making excuses and punting away their own oaths and responsibilities.

[malaise]

6. Democracy in action

:applause:

[depakid]

7. Indeed

-and it reminds me a bit of hat William K. Black had to say way back when...

http://online.barrons.com/article/SB123940701204709985.html#articleTabs_panel_article%3D1

[Odin2005]

5. Don't mess with vikings!

[The2ndWheel]

8. If the problem is that there was

""gross negligence" in allowing the financial sector to overheat without adequate oversight", shouldn't there have been a trial when things were going good? It's when things were running so well that the oversight was inadequate, right? Or it is just inadequate the moment it all goes to hell?

It just seems like these charges should have been brought prior to 2008.

When everyone is making money, something is obviously wrong, because it never stays that way. But nobody does anything about it during that period of time, because who would listen? When not enough people are making money, something is obviously wrong, because that's not the way we want society to be set up. Then everyone tries to do something about it, and we end up with more rules and regulations. Then everyone isn't making as much money as was thought they would, so we get around those new rules and regulations. Then more people start making money.............

That much talked about tangled web we weave certainly deserves a hearty chuckle now and then.

[dixiegrrrrl]

10. Perhaps when ( not if) this country goes tits up like Iceland did

there will be more willingness to hold "leaders" accountable.
Do that enough and even the shadow government will have no puppets to hide behind.

I can dream, can't I?