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Iceland - Central Bankers Being Investigated By Prosecutor

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http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/

Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. The Central Bank of Iceland is among the institutions under investigation.

Special Prosecutor, Olafur Thor Hauksson told Visir.is that house searches are taking place in at least three places today as part of investigations into the central bank, MP Bank and Straumur Bank.

Stefan Johann Stefansson at the central bank confirmed that agents were in the building conducting searches; and it has also been confirmed that searches are underway at MP Bank and ALMC (formerly Straumur).

An ALMC spokesman said that the premises are indeed being searched and that the bank’s staff members are doing their best to help.

Wow the central bank being investigated!!!!!

Surely the central bankers aren't going to be held accountable for being involved in this mess!!!!!

Edited by interestrateripoff

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http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/

Wow the central bank being investigated!!!!!

Surely the central bankers aren't going to be held accountable for involved in this mess!!!!!

Great find IRRO ! Thanks for that.

This is very interesting:

One of the arrested parties is Jon Thorsteinn Oddleifsson, former Landsbanki treasury boss;

BTW, how did you find that?!

Anyway, I dream with a UK Public Inquiry into this crisis, but with a proper remit: Starting from the bubble, around 10 years ago.

No chance, I know.

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Denniger.

http://market-ticker.org/akcs-www?post=177996

Oops... it's not here....

Iceland’s special prosecutor into the banking crisis has confirmed that raids have taken place today and that arrests have been made. The Central Bank of Iceland is among the institutions under investigation.

Hoh hoh hoh......

Now we're talking. Investigations into the banking crisis, and they're actually going to lock up some banksters?

Now that's progress.

Speaking of progress, has anyone paid attention to the labor force participation rate in Iceland lately, or the change in unemployment, or the change in imports and exports?

I wouldn't say their economy is "booming", but it sure looks pretty good compared to a lot of others, having told the banksters who wrote a bunch of bogus paper they couldn't cover to go stuff it instead of bailing them out!

I wonder if this had anything to do with Iceland's willingness to "do the right thing"?

If you remember, just about one year ago Iceland refused to bail out IceSave. There were threat of doom and gloom made by the banking cartel. But the people stood firm, and made clear that they weren't going to stand for it - and were willing to be more than a bit forceful in their refusal.

The government folded to the people and told the Banksters to shove it.

It was the right decision.

And now, perhaps, the Banksters responsible might wind up in prison.

That too would be the right decision.

Edited by interestrateripoff

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http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/

Wow the central bank being investigated!!!!!

Surely the central bankers aren't going to be held accountable for being involved in this mess!!!!!

I've been banging on about this for a long time.

Iceland is the biggest criminal fraud in history. The Icelandic President and entire government was bribed to lie to allow the bankers to steal billions from international investors. Iceland is a mafia, a state controlled criminal organization with strong links back to the Soviet Union/"New Russia" . The Icelandic regulators and central bank were all in the scam as were government ministers.

Denniger

He's a moron. He refers to 'Bankers' being locked up. These were not bankers, they were thieves. They didn't lend the money, cream off the profits and saddle the debts with tax payers.Nope, that was too much like hard work. Instead, they fabricated and forged documents such as annual returns, bought their own shares to boost the banks lending ability and then outright STOLE the money straight out of the bank. They are bank robbers, not akin to bank robbers,not conman or overpaid banksters, they stole billions. Literally ,they paid the stolen money into their own personal accounts.

Calling them banksters is an insult to bankers, at least they attempt a business model.

Edited by Peter Hun

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I've been banging on about this for a long time.

Iceland is the biggest criminal fraud in history. The Icelandic President and entire government was bribed to lie to allow the bankers to steal billions from international investors. Iceland is a mafia, a state controlled criminal organization with strong links back to the Soviet Union/"New Russia" . The Icelandic regulators and central bank were all in the scam as were government ministers.

Question is if that description is accurate will they criminals be jailed, imagine the precedent set with that.

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I've been banging on about this for a long time.

Iceland is the biggest criminal fraud in history. The Icelandic President and entire government was bribed to lie to allow the bankers to steal billions from international investors. Iceland is a mafia, a state controlled criminal organization with strong links back to the Soviet Union/"New Russia" . The Icelandic regulators and central bank were all in the scam as were government ministers.

He's a moron. He refers to 'Bankers' being locked up. These were not bankers, they were thieves. They didn't lend the money, cream off the profits and saddle the debts with tax payers.Nope, that was too much like hard work. Instead, they fabricated and forged documents such as annual returns, bought their own shares to boost the banks lending ability and then outright STOLE the money straight out of the bank. They are bank robbers, not akin to bank robbers,not conman or overpaid banksters, they stole billions. Literally ,they paid the stolen money into their own personal accounts.

Calling them banksters is an insult to bankers, at least they attempt a business model.

The thing is bankers have long been gone and replaced by thieves not just in Iceland but everywhere. Until a new generation of real bankers replace the current lot, 'banker' will be synonymous with 'thieve' I'm afraid.

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It started after the emerging market crisis of 1998 when the global capital flows went into reverse - developing countries wanted to stop such a crisis happening again and so put in place steps to recycle surpluses back into developed countries. That is the exact time when we know the global economy was broken...poor people recycling capital back to the rich!

You really couldn't make it up.

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It started after the emerging market crisis of 1998 when the global capital flows went into reverse - developing countries wanted to stop such a crisis happening again and so put in place steps to recycle surpluses back into developed countries. That is the exact time when we know the global economy was broken...poor people recycling capital back to the rich!

Sorry hotairmail, but that is just a fantasy. If that was the cause, then why Germany, Switzerland and so many other countries didn't have a credit/property bubble? Answer: Mainly because they had/have a regulated mortgage market.

The credit/property prices bubble started around 10 years ago, mainly in America and Britain when interest rates were pushed right down, initially as a reaction to 9-11, but then IRs were kept low for too long, as everybody was happy with it, from politicians and central bankers to the people on the street. Everybody loves a bubble. Since the Dutch tulips.

Both countries had at their disposal many tools powerful enough to curb the bubble, from the broadest (base rates) to the targeted (mortgage regulation, such as minimum deposits, maximum multiples of income), but for political reasons (broad sense, collective, nationally) both countries failed to stop the party.

It was not "China's fault". Snap out of it. It was our own fault.

.

Edited by Tired of Waiting

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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