Iceland Just Jailed 7 Bank Executives For Market Manipulation

Iceland.

They keep the tables as level as possible.

Even when it means putting a few bankers in jail for things like market manipulation.

Apparently this happened to 7 guilty bankers who thought everybody forgot about the last roundup of crooks up there.



xtray xtray read all about it !!

Iceland Just Jailed 7 Bank Executives For Market Manipulation

In one of the biggest cases of its kind, seven executives from the Kaupþing bank have been handed prison sentences for market manipulation today.

According to The icelandmonitor: “By fully financing share purchases with no other surety than the shares themselves, the bank was accused of giving a false and misleading impression of demand for Kaupþingi shares by means of deception and pretence.”

They were accused of trying to artificially inflate share prices in 2008 by using the bank’s funds to buy shares.

The Iceland Reveiew reported: The court case began in late April, and the hearings were the most wide-ranging and complex in Icelandic legal history. Over 50 witnesses were called, and testimony lasted for many weeks. They were quizzed on the nine defendants’ suspected illegal trade in their own bank’s shares in the lead up to its collapse. Charges laid by the Special Prosecutor claimed that the widespread illegal trade was carefully choreographed and highly deceptive.

Some Bankers are Just

'Frozen' in Time !!

a reply to: xuenchen

Can we get some of that justice in the rest of the world? I'm hoping but not holding my breath. If Greece defaults however, they will probably be looking for bankers and politicians to jail. Maybe it will kick off the new paradigm shift ;-)

Cheers - Dave

a reply to: xuenchen

Recently the best chess player in the world Magnus Carlsen was approached by America to play for America with a lucrative amount of money and he turned it down citing that he'd rather play for Iceland because they have more accountability when their bankers commit crimes while the USA does nothing. I found that fascinating.

a reply to: rockpaperhammock

Check Mate !!

a reply to: rockpaperhammock

I was thinking today that if ISIS wanted to gain some street cred they would gather a group made up of known corrupt judges,lawyers,bankers and politicians and do their thing . Can you imagine the fear that would be running through the dark halls of corruption ?

originally posted by: the2ofusr1
a reply to: rockpaperhammock

I was thinking today that if ISIS wanted to gain some street cred they would gather a group made up of known corrupt judges,lawyers,bankers and politicians and do their thing . Can you imagine the fear that would be running through the dark halls of corruption ?

ISIS "contractors" !!

Deluxe.

Are there any mega corporations or Banks in Iceland?

Theres your sign.

Not to big to fail.

Iceland, again, leads by example - no banksters holiday in Iceland.......the world should take note but because all MSM is owned either directly or indirectly by the banking bloodline elites, we shall never hear more than a murmur about this.

It's up to sites like ATS, with it's membership pushing for this sort of exposure.

If you have a facebook account - repost this thread on it.

a reply to: Sublimecraft

That should be on the side of buses, cabs, billboards and anywhere with room to paste it, All Over The Country.
Too bad it'll never happen. I hate to say it, I honestly do....but we are getting no more than we deserve. People are too stupid to vote with their heads, they vote for feel good slogans.

a reply to: xuenchen

We need to have that done in the U.S..

Well iceland does have huge aluminum plants, they take advantage of all that geothermal energy.

It helps the population of the whole country is about the same as the Lincoln nebraska metro area. Small enough for social norms to keep bureaucracy and corporatism in check, helps that it is a very homogeneous population

In a perfect world these scum would be publicly flogged by Bjork.
I tip my hat to the people of Iceland.

Yay!! I love it Xuechen !
Iceland for president 2016 !

Hillary wouldn't stand a chance against
an entire country of righteous bank jailers.
Actually our entire Senate and House would be
put away for years.

How about Björk, a sprite or an elf as
Icelands running mate ?
They can believe in the tooth fairy
and still get my vote with those results.

a reply to: xuenchen

Yeah, after the 2008 fiasco, theyre very careful about economic manipulation. Bansters must be bewildered. Everywhere else in the world they get billions in tax money as a reward for criminality. In iceland, they put em on ice. Something to be learned here?

Good on them. Disappointing that it should really be the model for other places when corruption is apparent. Wonder why not, corruption must be more rampant than known.

a reply to: xuenchen

Jail? So they're still getting a free ride?

During his time there, he reportedly made 40 large-scale rock sculptures, wrote five books on various topics, and as bloggers remarked, “changed the prison into a multiple star hotel” by getting The Red Cross to buy the inmates new beds, which he personally picked out. At the time, Fréttablaðið reported that the same beds were being used at KEA, Hótel Loftleiðir, Hótel Saga and Hótel Ísland

grapevine.is...

Surely there must be some sewers that need cleaning out in Iceland.

a reply to: Kester


I really like the effect of justice, a very special form of art. Also a very creative way to get a new bed.

Think he might have been very succesful in a banking sector, that creates bubbles and constantly needs some feeble constructions for their 'bonds'.

Ähm... wait!

Anyway, Iceland did an awesome job jailing their gangsters.
But who would have suspected anything less? They literally stay frosty most of the time!

When asked why Iceland was enjoying such a strong recovery while everyone else is still mired in debt, President Olafur Ragnar Grimmson said in 2013:

“Why are the banks considered to be the holy churches of the modern economy? Why are private banks not like airlines and telecommunication companies and allowed to go bankrupt if they have been run in an irresponsible way? The theory that you have to bail out banks is a theory that you allow bankers enjoy for their own profit, their success, and then let ordinary people bear their failure through taxes and austerity. People in enlightened democracies are not going to accept that in the long run.”

commondreams.org...