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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIceland arrests bankers.
Icelandic bank Kaupthing's top executives indicted over market rigging
Court documents are expected to allege a conspiracy by Kaupthing chairman Sigurdur Einarsson and other executives.
Icelandic banker Sigurdur "Siggi" Einarsson, who ran Kaupthing bank from offices in Mayfair until its collapse five years ago, is among nine former senior staff who have been variously charged in Reykjavik with orchestrating five large-scale market manipulation conspiracies.
Further details, to be released by the courts later this week, are expected to allege a conspiracy by Kaupthing executive chairman Einarsson and other bosses at Iceland's largest bank, claiming they secretly used the bank's funds to indirectly buy Kaupthing shares in the hope of propping up its share price.
Holdings in Kaupthing shares were allegedly acquired in the name of selected major clients, financed by generous loans from the bank. According to an Icelandic parliamentary report, almost 42% of Kaupthing shares were held by the bank as loan collateral at the end of September 2008, much of that without the knowledge of other stakeholders in the bank.
The criminal case is the largest in a series of fraud prosecutions that have been brought to court in Iceland in recent years, and may be one of the largest alleged market manipulation conspiracies ever seen in Europe.
http://www.guardian.co.uk/business/2013/mar/19/kaupthing-executives-indicted-for-market-rigging
russspeakeasy
(6,539 posts)liberal_at_heart
(12,081 posts)here in the US.
RC
(25,592 posts)And we are happy about a health care plan hatched in a Right-wing think tank, with he help of the health insurance companies?
Dream on.
The only thing that matters here is what the bankers think they think they are due.
That has been exactly my point and the point I try to pass along. The Democratic party has moved over into the right lane and we're proud that we got moderate Republican, dressed in his Democratic Party Costume, as President.
USA!USA!USA!USA!USA!
-p
aquart
(69,014 posts)liberal N proud
(60,334 posts)truedelphi
(32,324 posts)A solid
BrotherIvan
(9,126 posts)If the DOJ won't do it, is there any way we can?
defacto7
(13,485 posts)Gregorian
(23,867 posts)Blanks
(4,835 posts)Isn't the economy of Iceland improving since they've decided not to coddle the bankers.
It's always nice to have a success story to point to.
On edit: in case you haven't signed the petition.
http://signon.org/sign/action-tell-obama-to?source=c.url&r_by=7254994
cbrer
(1,831 posts)See? It CAN be done!
sakabatou
(42,152 posts)bluedigger
(17,086 posts)It would be hard to believe ours didn't have any business in Iceland, and if they were doing business, then they were stealing from someone.
Matariki
(18,775 posts)hobbit709
(41,694 posts)jtuck004
(15,882 posts)food stamps, cutting support to the most vulnerable, and throwing millions of families out of their homes?
They will never be a great country like we are if they don't get with the program.
xtraxritical
(3,576 posts)Jack Rabbit
(45,984 posts)Get to work.
xtraxritical
(3,576 posts)WillyT
(72,631 posts)dixiegrrrrl
(60,010 posts)and that people will soon be making their voice heard.
WillyT
(72,631 posts)And I hope it circles the globe.
AnneD
(15,774 posts)FRSP (French Revolution Severence Package) or RMEM (Russian Mafia Extreme Makeover). The banks have been playing kick the can down the road but Cyprus could be a game change...say musical chairs.
Iceland has done this right and the rest of the world should take note.
Whisp
(24,096 posts)I love Iceland.
allan01
(1,950 posts)nikto
(3,284 posts)Without convictions and executions are meaningless.
bvar22
(39,909 posts)May they pioneer the path for justice here.
hifiguy
(33,688 posts)there will be a full and fair trial, and prompt hangings following the convictions.
Fire Walk With Me
(38,893 posts)and is not going to be punished for it. At all.
Meanwhile, you can go to jail for marijuana.
dreamnightwind
(4,775 posts)even if Holder pretends not to.
demosocialist
(184 posts)This should be what we are talking about BIG HUGE K&R
ReRe
(10,597 posts)A country where everyone lives in the real world and lets the chips fall where they may. No one is above the rule of law!
AnotherMcIntosh
(11,064 posts)IveWornAHundredPants
(237 posts)Fake ones. From there on in the movie Con Air can provide details of how to treat them.
Initech
(100,076 posts)Wells Fargo, HSBC, and Goldman Sachs - all criminal enterprises. Hell let's go after Koch Pyramid Scheme, er, Industries, while we're at it.:
robinlynne
(15,481 posts)Sunlei
(22,651 posts)IveWornAHundredPants
(237 posts)It's quite temperate, actually. I've been there in December, and it was just fine. Beautiful place with gorgeous, friendly, intelligent people. They used to be rather xenophobic, many years ago when it was an almost 100% white country, but that attitude is long, long gone.
Egalitarian Thug
(12,448 posts)citizens and so it ain't easy to emigrate there.
pampango
(24,692 posts)Be sure to pass that sentiment along to the Swedes (15% are immigrants) and Canadians (19.8%). They may not be aware that they are not concerned about their own citizens. (The US comes in at about 11.5% so, by your definition, at least we care about our own citizens more than Sweden and Canada.)
Egalitarian Thug
(12,448 posts)Unlike the nations you've cited, America is unique in it's establishment and tacit approval of a black market labor pool. Sweden doesn't, Canada doesn't.
Only in America do significant industries enjoy the multiple and lucrative benefits of semi-official sanctioning of wage suppression and unlawful labor practices.
Aren't there some H-1(b)s that you should be processing?
pampango
(24,692 posts)with information on the high percentages of immigrants in Sweden and Canada which are countries that few argue do not care about their own citizens. My point was that a country that allows a lot of immigration is not necessarily unconcerned about the well-being of its own citizens.
Canada has a version of the H1B visa, but most of their highly-skilled workers are admitted as permanent immigrants not as temporary workers. That makes immigrating to Canada easier than to the US. Since they are admitted as legal workers and permanent residents on a path to citizenship they are not exploitable. I would think that is preferable to the way the US uses H1B visas. I am a proponent of immigration - as Canada handles it - not of the temporary work visa.
green for victory
(591 posts)[IMG][/IMG]
dixiegrrrrl
(60,010 posts)green for victory
(591 posts)[IMG][/IMG]
[IMG][/IMG]
It's not *that* funny, Timmy
yikes, look at those crows feet- looks like he's been wired under the skin or something
SunSeeker
(51,557 posts)DeSwiss
(27,137 posts)http://www.zerohedge.com/news/2013-02-14/first-monte-paschi-banker-arrested-54mm-stash
http://americanlivewire.com/world-economic-news-icelands-economy-now-growing-fas/
blkmusclmachine
(16,149 posts)"Can't Happen Here. We Own The Place."
King_Klonopin
(1,306 posts)if it is owned by "the people".
Sunlei
(22,651 posts)If only America could have not let the banks, private prisons, private schools and the war profiteers rape all Americas federal and state money.
Teamster Jeff
(1,598 posts)Egalitarian Thug
(12,448 posts)dixiegrrrrl
(60,010 posts)Egalitarian Thug
(12,448 posts)noiretextatique
(27,275 posts)that's exactly what needs to happen everywhere.
Egalitarian Thug
(12,448 posts)cantbeserious
(13,039 posts)eom
Amonester
(11,541 posts)Can't the job destroyers enjoy the fruits of their shenanigans anymore???? /sarcasm
love_katz
(2,579 posts)Send it to the Greatest Page.