its a sad day for Iceland .

Subject: its a sad day for Iceland .
From: skarpi
Date: 16 Jul 09 - 10:58 AM

Its a sad day for Iceland , Icelandic coverment are goin to apply
for EU .,

I am against EU and I am against applying for EU .
I want to go as many others , and take up Dollar and throw away
our Króna , its done .

EU is not gonna help Iceland , our depts are over 200 % over what this nation earn in year . and it will 30 years to get euro here .

2023 we will finish paying off .

this is the name of the man who played us poor " Sigurjón Einarsson "
from Landsbanki , he played us similar way as Muddock in US .
Muddock is in Jail for next 120 years , but our man is free , so Icesave people , if you want to get the man who gave the birth to Icesave, feel free try to catch him .


so our flag is in half today :>((

I am a proud Icelandic Viking and will fight for it .

all the best Skarpi Iceland

Subject: RE: its a sad day for Iceland .
From: GUEST,JTT
Date: 16 Jul 09 - 11:15 AM

Make sure they don't get their hands on your fisheries; they've raped Ireland's.

Subject: RE: its a sad day for Iceland .
From: Ebbie
Date: 16 Jul 09 - 11:23 AM

Skarpi, that is so sad. I can only hope that it won't be as bad as you fear. I wish blessings to you, my friend.

Ebbie

Subject: RE: its a sad day for Iceland .
From: GUEST,Iceman
Date: 16 Jul 09 - 11:44 AM

You will get a horde Eastern European ex-army war criminal people traffickers and drug dealers as part of the deal!

Subject: RE: its a sad day for Iceland .
From: Royston
Date: 16 Jul 09 - 11:56 AM

Sorry, Skarpi. It is always us people at the bottom of the food chain that suffer for the thieving bastard ways of bankers and politicians.

Iceland government might be applying for EU membership but is unlikely to get it owing to the financial diasaster. However EU membership might result in essential social and humanitarian assistance whilst your country tries to undo the damage of Einarsson and the others.

Don't listen to Iceman (BNP troll). You'll always get some criminals but mostly you'll get great plumbers, builders, mechanics and drinking buddies from the Eastern countries of the EU.

Subject: RE: its a sad day for Iceland .
From: Leadfingers
Date: 16 Jul 09 - 12:00 PM

And I know some Poles who are really keen Folkies !!

Best of Luck mate .

Subject: RE: its a sad day for Iceland .
From: GUEST, Sminky
Date: 16 Jul 09 - 12:07 PM

Well, Skarpi, if it comes to a fight then I reckon the Vikings have the best track record going. Best of luck.

Subject: RE: its a sad day for Iceland .
From: Tattie Bogle
Date: 16 Jul 09 - 12:31 PM

The American in jail is called Madoff: coudn't be a more appropriate name as he "made off" with all that money!

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 16 Jul 09 - 12:40 PM

Members of Iceland's parliament, the Althingi, led by a centralist coalition government voted on Thursday in favour of starting membership talks with the EU.

The Independence Party (which oversaw the deregulation of Iceland's banking system) was swept from power by the collapse of Iceland's financial sector last year, but still opposes EU membership

The issue of joining the European Union had never been discussed
The Independence party under the rule of David Oddsson was against it; it was their mission to keep it that way, no matter what the public said.
They knew, but did nothing.


Iceland could be fast-tracked to join the EU within two years, to help the small Nordic state out of its economic crisis, a top EU official said.


However, the final decision to join the bloc would need approval by all Icelanders in a referendum - so it's a little early to jump to any forgone conclusions


In fact, Iceland already meets up to 75 per cent of the criteria for membership but there are some, even within the Social Democrat/Green government that fear that it would harm Iceland's fishing industry.

Fishing in Iceland accounts for more than 36 per cent of the country's exports.

Subject: RE: its a sad day for Iceland .
From: WalkaboutsVerse
Date: 16 Jul 09 - 01:04 PM

As I've suggested in verse and prose, we need to get rid of global free-market capitalism, and have regulated fair-trade between the nations of the United Nations.

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 16 Jul 09 - 01:04 PM

is there a space for in the Canada where I can be forgotten ??
I wonder .

All the best Skarpi Iceland

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 16 Jul 09 - 01:18 PM

http://www.icenews.is/index.php/2009/07/16/icelandic-foreign-ministry-on-european-union-accession-negotiations-vote/

Today the Icelandic Parliament has voted "yes" to start official negotiations to apply for European Union membership. The votes were close, 33 were for, 28 were against, and 2 withdrew. Iceland will submit an application formally in Brussels on 27 July. It is expected to take around 2 years until the nation will vote whether to join the EU after membership negotiations have been discussed.


:>((

all the best Skarpi

Subject: RE: its a sad day for Iceland .
From: Sorcha
Date: 16 Jul 09 - 01:56 PM

Skarpi, which Party are you a member of? And is moaning going to help any?

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 16 Jul 09 - 01:59 PM

Skarpi, I would very much dislike being the hóra who ripped Iceland off and up. I think that I would have to stop living if I realized what I had done.

    Nú er blóðugr örn
    breiðum hjörvi
    bana Sigmundar
    á baki ristinn.

But it wouldn't cure the problem or repay.

Subject: RE: its a sad day for Iceland .
From: GUEST,leeneia
Date: 16 Jul 09 - 02:02 PM

"Moaning?"

The guy's country has been vandalized, he has people spreading rumors of mafia and mayhem, and you call that moaning?

Two days ago my husband was cussing because there was an eclair mixed in with the donuts at the supermarket. That's moaning.

======
Skarpi, I sympathize. Your country is so beautiful and pure. (I've visited twice.) It is such a shame that it faces these terrible problems.

Subject: RE: its a sad day for Iceland .
From: Richard Bridge
Date: 16 Jul 09 - 02:10 PM

I would have thought that Iceland would need to negotiate a special deal on fishing. The effect of the EU on British fishing and fish stocks has not been good.

But its only alternative surely is closer ties with the US bloc - and that would doubtless be worse.

Subject: RE: its a sad day for Iceland .
From: Paul Burke
Date: 16 Jul 09 - 02:15 PM

I think the ordinary Icelandic people were happy enough to go along with the financial geniuses when they were raking in the profits. Now the people whose money they spent want it back. They can't take the land, it's not worth much for agriculture, though Russia or even perhaps China might like a military base there. The energy is geothermal, so that's not readily exportable either. The scenery and beautiful sunsets and midnight sun are only worth what tourists will pay, and they are in short supply just now. But fish... everyone wants that, European, Japanese and North American coastal waters have been hoovered clean, and the Chinese aren't far behind. All of them are already squabbling over African, South Atlantic and Pacific stocks. Iceland has done a great job of conserving their own fish, but their supply will be swallowed by the big (fish) powers in one mouthful. There will be deep mourning about this among environmentalists, but Iceland's attitude to whaling will leave little sympathy among them for the erstwhile proprietors.

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 16 Jul 09 - 02:39 PM

There is an interesting (English language) Icelandic blog from a freelance writer and translator translator living in Reykjavík.

Her site is called The Iceland Weather Report and has some interesting insider perspectives as well as some stunning photos AND actual weather reports :)

Here is her A brief treatise on Iceland's quota allocations looking at the current state of Icelandic fishing

"Last year, the UN's Commission on Human Rights ruled that Iceland's quota allocation system is unlawful because it is discriminatory. Yet the Independence Party, which if you've just joined us ruled this country for 18 years prior to the collapse of Iceland's government in January, has resolutely refused to change the system despite widespread discontent.
They have clearly been protecting the interests of the fat cats, and it is almost a given that the quota kings have paid handsomely into the coffers of the IP in the past, in return for the IP keeping the system in place.
Now that the IP is no longer in control, the demand for a recall of the quota back to the people is growing increasingly louder."

She doesn't spare the politicians of the right wing Independance Party either for their role in the collapse of the economy

On Davíð Oddsson **

'This is the man who was instrumental in selling the banks to his personal friends, who promised they would grant favour to IP supporters in return.
This is a man who with no education in economics installed himself in the Central Bank when he decided to "retire from politics" '

**Davíð Oddsson
(born 17 January 1948 in Reykjavík) is an Icelandic politician and the longest-serving Prime Minister of Iceland, holding office from 1991 to 2004.
He also served as Foreign Minister from 2004 to 2005.
Previously, he was Mayor of Reykjavík from 1982 to 1991, and he chaired the board of governors of the Central Bank of Iceland from 2005 to 2009.

In 2008, following the collapse of Iceland's banking system, his actions as the chairman of the board were seriously questioned and after demands for his resignation both by the Icelandic public and by Icelandic Prime Minister Jóhanna Sigurðardóttir , he was replaced as head of the Central Bank
- wiki

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 16 Jul 09 - 05:28 PM

Now the people whose money they spent want it back.
Poul, first of all , I have not spent any money , simply
becouse I did not had any money , the banks here did the same thing as
ENRON , but ten time s bigger .

I am sorry also that those men , took many people around the world down
with me and others , all our saving , that little I had to save
is gone , and you say we spend ?????

sorcha , there is no party in Iceland I can follow simple
as that .

there is no way for you to understand some of our feelings
for our independence .

We are givin away some of it , to Brussel and that is
not goin to happen.

And Emma , this is not all , Johanna and her party , gave us the people of Iceland the finger the other day , there is no problem
with Icelandic homes . what a joy she must have had that day .
urrrrrrrrrrrr she is sick .


kv Skarpi

Subject: RE: its a sad day for Iceland .
From: Paul Burke
Date: 16 Jul 09 - 05:37 PM

Sadly, Skarpi, you aren't Iceland. If you had been, the country wouldn't have been in this mess. I think the same applies to many other Catters and their respective countries' messes.

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 16 Jul 09 - 05:46 PM

Fortunately for Iceland too, many (in fact it would seem the majority) support the new coalition government rather than the deposed government who colluded in the financial crisis.

some icelanders debate for and against joining the EU

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 16 Jul 09 - 05:46 PM

Skarpi, I fully understand your feelings for independence.

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 16 Jul 09 - 06:03 PM

There is still much scaremongering in the UK press about loss of independence as a result of membership of the EU - in fact the BNP managed to secure two anti EU delegates to the EU parliament last month on that ticket.

This blatant UK anti EU scaremongering was reported on a Nordic blog as an example to beware of

"These last few days there has also been an EU "horror story" with a British twist in the Icelandic press.

The Icelandic TV channel, Stöð 2, had a story yesterday, repeated on the webpage of www.visir.is based on an article in the British tabloid Daily Express, according to which the EU would use secret powers to confiscate British oil and gas fields.

After closer scrutiny, it turns out that the article was based on a press release from the UK Independence Party, a racist and xenophobic party on the extreme right.
The content of the article is of course sheer nonsense. There is no plan whatsoever for the EU to take over national resources, nor is there any legal means to do so."

Subject: RE: its a sad day for Iceland .
From: McGrath of Harlow
Date: 16 Jul 09 - 08:13 PM

What's sad about this? If the negotiations go ahead and come up with a deal that doesn't look good enough to most Icelanders, it won't get approved in a referendum.

I can't see that the current financial and economic confusion in the rest of Europe (as in America and in Iceland), has in any way been made worse by membership of the EU.

Subject: RE: its a sad day for Iceland .
From: bobad
Date: 16 Jul 09 - 08:27 PM

Skarpi, you will be welcomed in Canada.

Gimli, Manitoba
From Wikipedia, the free encyclopedia

Coordinates: [show location on an interactive map] 50œ38′1″N 96œ59′26″W / 50.63361œN 96.99056œW / 50.63361; -96.99056
Country         Canada
Province         Manitoba
Region         Interlake
Demonym:         Gimvestitian
Founded         October, 1875
Government
- Mayor         Tammy Axelsson
Area
- Land         326.3 km2 (126 sq mi)
Elevation         222 m (728 ft)
Population (2006)
- Density         18.2/km2 (47.1/sq mi)
- Urban         5,797
- Urban Density         319.25/km2 (826.9/sq mi)
Postal code         R0C 1B0
R0C 1B1
Area code(s)         204
Website         www.rmgimli.com

The town and municipality of Gimli are located in the Interlake region of south-central Manitoba, Canada. Located on the western shore of Lake Winnipeg, about 75 kilometers north of the provincial capital Winnipeg, Gimli is close to the small towns of Winnipeg Beach,Fraserwood, Arnes, Hnausa, Riverton, and Arborg. This 'Icelandic Canadian' town (population 5,797 Statistics Canada 2006 census) and surrounding districts were once an Icelandic ethnic block settlement, and the area, known as New Iceland, is home to the largest concentration of people of Icelandic ancestry outside Iceland. The first town established in the settlement, Gimli has been called the "Capital of New Iceland."

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 16 Jul 09 - 09:51 PM

Go a bit West, drop south, visit Pocatello.

Subject: RE: its a sad day for Iceland .
From: GUEST, Urdur
Date: 16 Jul 09 - 11:59 PM

Paul!!

For your information, since you seem to think that the Icelandic public spent all the Icesave money..Well here's the truth that obviously no one has taken the time to tell you of..
NOT A SINGLE POUND OF THAT MONEY EVER CAME TO ICELAND!!
It was all lent to businesses in the UK..look it up if you want to..

Subject: RE: its a sad day for Iceland .
From: ragdall
Date: 17 Jul 09 - 12:22 AM

From: skarpi - PM
Date: 16 Jul 09 - 01:04 PM

is there a space for in the Canada where I can be forgotten ??
I wonder .

All the best Skarpi Iceland

We'll welcome you here, Skarpi. It's a great place for Vikings, lots of ice and snow, just like home.

Subject: RE: its a sad day for Iceland .
From: Paul Burke
Date: 17 Jul 09 - 02:00 AM

None?: Personal Debt in Iceland reached 213% of personal disposable income. In Britain this figure is 164%. In the US, it is 140%. In Germany about 100%. The high levels of personal debt were reflected in the balance sheets of the Icelandic banks who were willing to lend with few questions asked.

Note I didn't say you'd spent all the money though: just pointing out that opposition to the bankers only became mainstream after the collapse.

Subject: RE: its a sad day for Iceland .
From: WalkaboutsVerse
Date: 17 Jul 09 - 04:38 AM

Fight or flight? VISIT Canada, e.g., and stay in your country and fight for what you believe in, in my opinion.

Subject: RE: its a sad day for Iceland .
From: Keith A of Hertford
Date: 17 Jul 09 - 06:05 AM

I imagine that Iceland's 200 mile fishing limit will be thrown open to French and Spanish vessels as our waters are.

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 17 Jul 09 - 07:42 AM

"I want to go as many others , and take up Dollar and throw away
our Króna , its done ."

Back in April it was reported that SUS, the youth arm of the Independence party (many over 30 years old) had agreed to pursue that Iceland adopt the US dollar.
The strange thing about this SUS idea was the fact that the Independence Party has been adamant to keep the ISK.
All their actions either political or economical have had one aim only.
DO NOT ENTER THE EU AND FIGHT TO THE DEATH TO KEEP THE ISK.

The Independent Icelandic News commenting then on this apparent split in the discredited Independence Party ** said

"So many have the the view that EU membership would plunge us into financial chaos, unemployment, and straight to hell.
I fail to spot a difference to the current situation Iceland is in at the moment.
They all have their views, but nobody has any solution, they refuse to discuss the EU on a professional level, and when forced to address it, they just make doomsday predictions that have not merits in reality."

The Idependent Party expresses the greatest faith in free markets.
It is also, as an old schoolmate of the then prime minister's was quoted as saying , "all men, men, men. Not a woman in it."

But now the reviled Geir Haarde has finally stepped aside; he was replaced by Johanna Sigurdardottir, a Social Democrat and the first female prime minister of Iceland who has commenced negotiations and, when the nation can see both the benefits and losses of EU membership, has agreed a referendum to enable the nation's citizens to vote on the issue.

Far from being a 'sad' day for Iceland many see it as an auspicious start equated with the 'politics of change' in the US



** not just the likes of Sigurjón Einarsson benifited from Iceland's attempt to re-invent itself as a global financial power

It has been reported that Kaupthing Bank loaned its staff a total of ISK 47.3 billion (in the region of USD 640 million at the time) solely to buy its own shares in 2006 alone.
It is reported that Kristjan Arason, then head of commercial banking was granted ISK 893 million in so called 'bullet loans'.
Arason is the husband of former Independence Party Minister of Education Thorgerdur Kartin Gunnarsdottir.

The board of Kaupthing decided on September 25th 2008 to write off all personal liabilities of the employees of the bank because of loans for purchasing stocks.
This write off of personal liabilities was in total 10,5 billion króna.
Close to half of that write off or around 4,9 billion króna was a write off of personal liabilities of seven former highest CEO´s of the bank.
The new board however has said that the loans are still in the books of the bank and have not been written off while the lawsuit of share holders because of the loans is being processed.

Sigurjon Th. Arnason, while governor of Landsbanki, took the decision to sponsor the Independence Party with 25 million krona

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 17 Jul 09 - 08:29 AM

You could petition to become a US territory, or a province of Canada.

Subject: RE: its a sad day for Iceland .
From: kendall
Date: 17 Jul 09 - 10:02 AM

Skarpi, my friend, you can complain all you want here. Most of us want to hear what you have to say.
Fishing boats in America are always short handed. Come on over.

Subject: RE: its a sad day for Iceland .
From: McGrath of Harlow
Date: 17 Jul 09 - 12:21 PM

"I imagine that Iceland's 200 mile fishing limit will be thrown open to French and Spanish vessels as our waters are."

I would think it highly likely that if the EU does want Iceland as a member, it would be possible to negotiate a special deal on this, since otherwise the likelihood of there being popular agreement in the referendum would be greatly reduced.

Fishing rights are central to Iceland in a way that they weren't seen as being by UK governments - otherwise I suspect they could have negotiated an exemption that gave more protection for local UK fisheries, perhaps in exchange for reduced rights to fish in other European waters.

The history of the destruction of the Newfoundland fisheries suggests that a link with a North American neighbour might not be too good an idea from this point of view.

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 17 Jul 09 - 01:43 PM

Skarpi, have you considered taking up viking again?

Subject: RE: its a sad day for Iceland .
From: robomatic
Date: 17 Jul 09 - 02:06 PM

Skarpi:

Have you thought about declaring your country a candidate for (US) Statehood? You probably have a lot of sister cities over in Minnesota anyway. This way you could go over to the Mall of American and use the dollar as currency.

We Americans could use a country over on the right side, as a center of gravity balance to Hawaii way over on the left. . .


You'd have to either give up the metric system or use your Viking derring-do to penetrate the United States and get us over the hump to abandon our inches, pounds, and US Gallons.

You'd get to join the US military.

This would be a great conflict to the Right Wing in the US. You're all obviously a bunch of socialists, but on the other hand, you're all so WHITE! I think it would be worth it just to see their faces.

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 17 Jul 09 - 08:28 PM

First :
Emma what you write is true ,
Keith , I dont know if EU is goin to take over the fishing ,
and Kendall , complain , maybe I am , and I know 13 th of September
if I have my job or not , so I let know if I want to come over .

Canada I ´d like to go , is there a work for a viking ??

all I know , that Mr , Obama president of US said , that is was
strange that the collapse of the Icelandic bankin system started
in Miami . and after that it start rollin over .

well , I hope you all have a job , or pension to live on ,
I know in the autumn I will get mine in the future come .

at least I know that I dont have job , after September , unless
I go away from Iceland . the Coverment is have a totally cutdown .

so all the best to you all , I will think about fighting
for my views .
skarpi

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 17 Jul 09 - 08:55 PM

skarpi, my occupational pension was partly tied up in the Icelandic banks but I am too old to find another job now.

I wish you luck to find another I know that the unemployment figures in Iceland are now as high as in the US - fortunately you have better welfare provision in Iceland than America.

Subject: RE: its a sad day for Iceland .
From: Riginslinger
Date: 17 Jul 09 - 10:15 PM

Is there anybody out there who can figure out where all the money went? Iceland got hit harder than anybody, but in the US the government bailed out the banks, they can't say who ended up with the money, and now Goldman Sachs is reporting record earnings.
             If you're looking for fish, there's something really fishy here.

Subject: RE: its a sad day for Iceland .
From: robomatic
Date: 17 Jul 09 - 10:19 PM

And I'll bet you know just whom to place the blame on, Rig!

Subject: RE: its a sad day for Iceland .
From: vectis
Date: 18 Jul 09 - 05:11 PM

Don't join the EU. If you do you can kiss goodbye to all your fish...

Bloody Spanish trawlers.

Subject: RE: its a sad day for Iceland .
From: goatfell
Date: 18 Jul 09 - 05:18 PM

just like the money that the british government put into your banks and then rab off with our british money

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 18 Jul 09 - 06:00 PM

We've all be screwed. Let's accept it...and take whatever steps we need to so that it won't happen again. If that's more regulations on our banks and financial institutions, good. If it means decentralizing the governments (and they could be these days), let's do it. If it means altering or abolishing it and instituting such government as we may see fit...well...the blood of your ancestors flows in your views.

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 18 Jul 09 - 07:22 PM

We've all be screwed , well I can take under that .

and I got the name of the Bankman wrong , his name is
Sigurjón Árnason , thats the man to blame .

at least one of 30 people .

where is the money well they are in UK , Cayman Island ,
some Island near UK , in tax paradise .

all the best Skarpi

Subject: RE: its a sad day for Iceland .
From: goatfell
Date: 19 Jul 09 - 11:08 AM

I just hope that Iceland will join the the EU.

Subject: RE: its a sad day for Iceland .
From: Rapparee
Date: 19 Jul 09 - 12:14 PM

With their shield wall intact and their heads high!

Subject: RE: its a sad day for Iceland .
From: Emma B
Date: 19 Jul 09 - 02:00 PM

In 2002. Iceland's Prime Minister David Oddsson, a follower of the economic theories of Milton Friedman, privatized the banks.

Over the next three and a half years they grew to over $140 billion and were so much greater than Iceland's GDP that it made no sense to calculate the percentage of it they accounted for. It was, as one economist said, 'the most rapid expansion of a banking system in the history of mankind.'

The BBC reported that "Both households and firms had borrowed extensively in foreign currency " and Michael Lewis, reported
"By 2006 the average Icelandic family was three times as wealthy as it had been in 2003, and virtually all of this new wealth was in one way or another tied to the new investment-banking industry."

During the 1990s the island of some 300,000 inhabitants was converted into the 'analogue of a highly leveraged hedge fund'


The difference between this situation and Bernard Madoff was the 'legality'

Bernard L. Madoff entered a federal courtroom in Manhattan and admitted in public that he had run a vast Ponzi scheme that robbed thousands of investors of their life savings
"I knew what I was doing was wrong, indeed criminal," he said.


However, Sigurjón Árnason the chief executive of Landsbanki , the parent company of Icesave, has been questioned by the Icelandic special prosecutor over the events leading up to the bank's collapse it was reported yesterday

He was among 10 people, including Landsbanki brokers, questioned over allegations that the bank lent an Icelandic investor, Magnus Armann, 5bn krona (£24m) to buy shares in the bank itself with no security.
The board are believed to deny knowledge of the loan.

"It is part of a growing investigation by the Icelandic authorities about "suspicions of criminal activity" surrounding the failure of Kaupthing, Landsbanki and Glitnir that wiped out the deposits of hundreds of UK councils and charities." wrote Rowena Mason in yesterday's Telegraph

Earlier Iris Erlingsdottir
Icelandic journalist and writer had said in the The Huffington Post

"The mind-set in Iceland's business community before the banks' collapse was, as Bob Dylan once put it, "anything's legal, as long as you don't get caught."

How Iceland's Lawyers Enabled Fraud

"According to recent news reports, the former (he resigned last week in the light of "the misleading debate about his part" in the bank's decision about the loans) chief counsel at Kaupthing Bank, Helgi Sigurðsson, provided the board of directors with a legal memorandum that concluded that the insiders' personal responsibility for the loans could be written off if things fell apart, though I assume they would reap any financial rewards occurring if the bank's stock continued to rise."


"Just as the physicians of famous people from Elvis Presley to Michael Jackson poisoned their patients by providing an endless supply of illicit drugs, so the lawyers poisoned Iceland's business and regulatory atmosphere by justifying their clients' unjustifiable deeds"

Subject: RE: its a sad day for Iceland .
From: skarpi
Date: 19 Jul 09 - 06:35 PM

Emma this questioning is to late those men have taken many billions of dollars out of the country :>(

wanted dead or a live ,
they commit one of the biggest bank roppery in the world .

kv Skarpi

Subject: RE: its a sad day for Iceland .
From: robomatic
Date: 19 Jul 09 - 06:47 PM

There's a new series on our public broadcasting system called "The Ascent Of Money" by Niall Ferguson. In it he credits a Scotsman, John Law, for first centralizing the French economic system, then a monstrous 'bubble' caused by phantom investment in Mississippi corporation, leading to a destroyed French economy and contributing to the French revolution.

It is fantastically interesting, I'm not sure I believe the whole story, but it reads like an early version of what just happend in the US and Iceland.