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Can you imagine participating in a protest outside the White House and forcing the entire U.S. government to resign? Can you imagine a group of randomly chosen private citizens rewriting the U.S. constitution to include measures banning corporate fraud? It seems incomprehensible in the U.S., but Icelanders did just that. Icelanders forced their entire government to resign after a banking fraud scandal, overthrowing the ruling party and creating a citizen’s group tasked with writing a new constitution that offered a solution to prevent corporate greed from destroying the country. The constitution of Iceland was scrapped and is being rewritten by private citizens; using a crowd-sourcing technique via social media channels such as Facebook and Twitter. These events have been going on since 2008, yet there’s been no word from the U.S. mainstream media about any of them. In fact, all of the events that unfolded were recorded by international journalists, overseas news bureaus, citizen journalists and bloggers. This has created current accusations of an intentional cover up of the story by mainstream U.S. news sources.
As with most narratives, the truth may lie somewhere in the middle of all of these varying perspectives. One thing is clear, though: it’s nearly impossible to find one mainstream U.S. news report of the pots and pans revolution in Iceland, the resignation of Iceland’s entire government, and the jailing of the bankers responsible for the economic collapse there. Whether or not the revolution led to a more fair government or a workable and effective constitution is irrelevant to the fact that the U.S. media has essentially skipped over this story for the past five years.
The Dog Days have become attached to a picturesque chapter of Icelandic history in 1809, when the Napoleonic Wars were raging in mainland Europe. A Danish adventurer, Jörgen Jörgensen, set himself up as "Protector" of Iceland, sponsored by a maverick English merchant by the name of Phelps, who attempted to break the very disliked Danish monopoly on trade with Iceland. While in Iceland, Jörgen Jörgensen gathered around himself a small group of Icelanders, men who were at least willing to irritate the Danish authority. Together Jörgensen and five of his "life guards" rode across the country, visiting better off farmers, ministers and sheriffs and giving orders on all hands. Degrading some officials who were not willing to obey Jörgensen's orders and upgrading others.
Sigurður Einarsson, former chairman of the board, got five years while investor, and one of the bank’s biggest shareholders, Ólafur Ólafsson, got three and a half years Magnús Guðmundsson, director of Kaupthing Luxembourg, got three years
Iceland Review Online
Icelandic bankers sentenced to prison for market abuse
I started a thread on this a few days ago, and it was a little misleading. this isn't anything recent.
Icelander's Overthrow Gov.......
Just to be clear, this headline is highly misleading. The "overthrow" happened back in 2008; the rewrite of the constitution never eventuated and Iceland never joined the EU. In fact, Iceland has since had yet another election and voted out the left-wing parties and replaced them with right-wing parties again, who immediately removed anything to do with rewriting the constitution, including socialising natural resources, cancelled talks with the EU, and put the country almost exactly back in the same political position it was pre-economic collapse.
Because the link in my OP is from Dec 2013.