Friday, May 14, 2010

Jailing the banksters

What a lovely concept.
Bankers jailed, sued as Iceland seeks culprits for crisis
By Haukur Holm (AFP) – 1 day ago
REYKJAVIK — More than a year and a half after Iceland's major banks failed, all but sinking the country's economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.
Since Iceland's three largest banks -- Kaupthing, Landsbanki and Glitnir -- collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.
But the publication last month of a parliamentary inquiry into the island nation's profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken "inappropriate loans from the banks" they worked for. more

Iceland: Int'l Arrest Warrant Against Top Bank Official
by Lowana Veal (Reykjavik)
May 12, 2010
Vigorously pursuing those allegedly responsible for Iceland’s 2008 financial crisis, investigators have got issued an international arrest warrant against Sigurdur Einarsson, chairman of the board of governors of the failed Kaupthing Bank.
An Interpol notice on Tuesday said Einarsson was wanted on charges of counterfeiting, forgery and fraud.
Einarsson, who lives in London, was said to be reluctant to come to Reykjavik for fear of being arrested and Icelandic authorities have refused to offer any assurances. more

1 comment: