Snugglybear Report post Posted January 15, 2011 From the BBC website http://www.bbc.co.uk/news/business-12195573 Landsbanki executives arrested in Iceland Police in Iceland have arrested the former boss of failed bank Landsbanki and another senior executive. Former chief executive Sigurjon Arnason and Ivar Gudjonsson, ex-head of the bank's investments arm, were held on allegations of market manipulation. Prosecutor Olafur Thor Hauksson has been investigating alleged crimes in the lead-up to Iceland's bank collapse in 2008. He has also been probing insider trading allegations at the bank. No cases have yet been brought to trial. A municipal court judge has remanded Mr Arnason and Mr Gudjonsson in custody until 25 January and 21 January respectively. Landsbanki and Iceland's other main commercial banks collapsed under the weight of huge debts amassed over years of aggressive overseas expansion, bringing the country's economy to its knees. This week Mr Hauksson said he was questioning seven former Landsbanki executives after searches were carried out at three buildings in Reykjavik. In 2009 the ex-boss of collapsed bank Kaupthing became the first high-profile banker to be detained in connection with the investigation. Quote Share this post Link to post Share on other sites
Cygnus Alpha Report post Posted January 15, 2011 From the BBC website http://www.bbc.co.uk/news/business-12195573 Landsbanki executives arrested in Iceland Police in Iceland have arrested the former boss of failed bank Landsbanki and another senior executive. Former chief executive Sigurjon Arnason and Ivar Gudjonsson, ex-head of the bank's investments arm, were held on allegations of market manipulation. Prosecutor Olafur Thor Hauksson has been investigating alleged crimes in the lead-up to Iceland's bank collapse in 2008. He has also been probing insider trading allegations at the bank. No cases have yet been brought to trial. A municipal court judge has remanded Mr Arnason and Mr Gudjonsson in custody until 25 January and 21 January respectively. Landsbanki and Iceland's other main commercial banks collapsed under the weight of huge debts amassed over years of aggressive overseas expansion, bringing the country's economy to its knees. This week Mr Hauksson said he was questioning seven former Landsbanki executives after searches were carried out at three buildings in Reykjavik. In 2009 the ex-boss of collapsed bank Kaupthing became the first high-profile banker to be detained in connection with the investigation. Great news. About time this happened. Quote Share this post Link to post Share on other sites
Snugglybear Report post Posted January 15, 2011 Great news. About time this happened. Can't help thinking it would be nice if it happened here... Quote Share this post Link to post Share on other sites
Cygnus Alpha Report post Posted January 15, 2011 Can't help thinking it would be nice if it happened here... Indeed. Although I think the circumstances were slightly different. There are allegations in Iceland that bankers lent vast sums to their old boys network mates to invest in speculative or dubious enterprises. If the loans had paid off it would have greatly enriched their mates and if they failed, well the savers in the Netherlands and the UK could pick up the bill. By contrast, in the UK, it was more a case of incompetence by bankers. Quote Share this post Link to post Share on other sites
OnlyMe Report post Posted January 15, 2011 By contrast, in the UK, it was more a case of incompetence by bankers. You reckon? Laying off all those shite loans to everybody else? Back in 2003 there was already publicly broadcast evdencec of how they were benidng the system. Their only incompetence ws being left with it on their books before it could be warehoused quickly enough onto some other schmuck. The last resort was the taxpayer. Quote Share this post Link to post Share on other sites
Cygnus Alpha Report post Posted January 15, 2011 You reckon? Laying off all those shite loans to everybody else? Back in 2003 there was already publicly broadcast evdencec of how they were benidng the system. Their only incompetence ws being left with it on their books before it could be warehoused quickly enough onto some other schmuck. The last resort was the taxpayer. Sounds like we're in agreement then! Quote Share this post Link to post Share on other sites
Chest Rockwell Report post Posted January 15, 2011 (edited) Great news. About time this happened. If you took the time to look a bit closer you'd find that the police should be arresting the politicians that were governing the country at the time! I am truly amazed that all governments of the world have succesfully sold "banker bashing" to the sheeple! Has to be the biggest fraud since the Wall Street Crash of 29! Once again the Governments get away with the crime! Edited January 15, 2011 by Chest Rockwell Quote Share this post Link to post Share on other sites
wonderpup Report post Posted January 15, 2011 By contrast, in the UK, it was more a case of incompetence by bankers That's impossible- they are paid billions because their competence is so great- so they claim. So it must be criminal activity then, I guess. Quote Share this post Link to post Share on other sites
needsleep Report post Posted January 15, 2011 Can't help thinking it would be nice if it happened here... It will. Give it time. Quote Share this post Link to post Share on other sites
Cygnus Alpha Report post Posted January 15, 2011 If you took the time to look a bit closer you'd find that the police should be arresting the politicians that were governing the country at the time! I am truly amazed that all governments of the world have succesfully sold "banker bashing" to the sheeple! Has to be the biggest fraud since the Wall Street Crash of 29! Once again the Governments get away with the crime! Cameroon is trying every PR trick in the book to get his banker pals off the hook by trying to blame governments. Where his argument falls down is that the banking crisis affected just about every country: USA, Germany, France, Netherlands, China, Japan, South Korea, Italy, Spain, Ireland, Canada and so on. So it was all the fault of just about every Government and not the casino bankers? I just can't accept your premise that the bankers did nothing wrong. Sorry if you think that that makes me one of the "sheeple'. Quote Share this post Link to post Share on other sites
erranta Report post Posted January 16, 2011 You reckon? Laying off all those shite loans to everybody else? Back in 2003 there was already publicly broadcast evidence of how they were bending the system. Their only incompetence was being left with it on their books before it could be warehoused quickly enough onto some other schmuck. The last resort was the taxpayer. Top marks! Great memory recall, understanding and spelt out in a way anyone at any level can understand! Quote Share this post Link to post Share on other sites
Peter Hun Report post Posted January 16, 2011 (edited) Indeed. Although I think the circumstances were slightly different. There are allegations in Iceland that bankers lent vast sums to their old boys network mates to invest in speculative or dubious enterprises. If the loans had paid off it would have greatly enriched their mates and if they failed, well the savers in the Netherlands and the UK could pick up the bill. By contrast, in the UK, it was more a case of incompetence by bankers. True. These 'loans ' were given to the bank owners themselves and amounted to over 50% of the banks borrowings. They gave loans to third parties (for a fee to use their name) to allow them to buy share in the banks to prop up the share price. One bank owner stole 500million euros and transfered it to the Cayman Islands. Most of the MP's in parliament were given multi million Euro loans, as were the journalists, media company owners, universities and anybody else whole could be bribed to keep their mouth shut. Iceland is a Mafia state and they have stolen $60billion from the rest of the world. They are re-writing the loans with retrospective laws to aid Icelanders at the expense of foreign lenders. Nation of crooks. Edited January 16, 2011 by Peter Hun Quote Share this post Link to post Share on other sites
Mikhail Liebenstein Report post Posted January 16, 2011 True. These 'loans ' were given to the bank owners themselves and amounted to over 50% of the banks borrowings. They gave loans to third parties (for a fee to use their name) to allow them to buy share in the banks to prop up the share price. One bank owner stole 500million euros and transfered it to the Cayman Islands. Most of the MP's in parliament were given multi million Euro loans, as were the journalists, media company owners, universities and anybody else whole could be bribed to keep their mouth shut. Iceland is a Mafia state and they have stolen $60billion from the rest of the world. They are re-writing the loans with retrospective laws to aid Icelanders at the expense of foreign lenders. Nation of crooks. And dare I say the City of London is a Square Mile of Crooks. Quote Share this post Link to post Share on other sites
Peter Hun Report post Posted January 16, 2011 And dare I say the City of London is a Square Mile of Crooks. Why not claim they are murders, cannibals, rapists and pedophiles? You may hate them but technically they are not. They haven't committed a crime and can't be sent to jail for it. Whereas in Iceland they they didn't cheat and swindle, they STOLE. Not just a tiny percent in bonus pay, but 75% of the entire banks capital. Quote Share this post Link to post Share on other sites
CrashInHand Report post Posted January 16, 2011 (edited) Why not claim they are murders, cannibals, rapists and pedophiles? You may hate them but technically they are not. They haven't committed a crime and can't be sent to jail for it. Whereas in Iceland they they didn't cheat and swindle, they STOLE. Not just a tiny percent in bonus pay, but 75% of the entire banks capital. Cheat, swindle, stole, fraud. Crime is crime. I would strip the uk banksters of every asset they or their direct family owns and exile them. I am sure, if no other country will have them, we have a few barley habbitable remote islands scattered around the world where we can send them. They have cost this country to much already. An example needs to be made with every single one of them. And then we can start on the politicians. Ingnorance is no excuse. Edited January 16, 2011 by CrashInHand Quote Share this post Link to post Share on other sites
Cygnus Alpha Report post Posted January 16, 2011 True. These 'loans ' were given to the bank owners themselves and amounted to over 50% of the banks borrowings. They gave loans to third parties (for a fee to use their name) to allow them to buy share in the banks to prop up the share price. One bank owner stole 500million euros and transfered it to the Cayman Islands. Most of the MP's in parliament were given multi million Euro loans, as were the journalists, media company owners, universities and anybody else whole could be bribed to keep their mouth shut. Iceland is a Mafia state and they have stolen $60billion from the rest of the world. They are re-writing the loans with retrospective laws to aid Icelanders at the expense of foreign lenders. Nation of crooks. What's worse is that this forum is full of people who would have you believe that Iceland's problems were all down to us and the Dutch. These people are just useful fools for the criminal gangs in Iceland. Quote Share this post Link to post Share on other sites
