More Icelandic bankers arrested

[irishspirit]

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.


Read more: http://www.icenews.is/index.php/2011/01/20/more-icelandic-bankers-arrested/#ixzz1Bl5BjcyX

[Teakai]

Very interesting.

I wonder if Eyjafjöll will stay quiet.

[daledo]

Guess other countries need to pay close attention to this as well... did Ben Bernanke get the memo?

[3katie3]

the iceland story is very encouraging. reminds me of Mahathir of Malaysia when he kept on capital controls, and was universally condemned by the central banker club, but Malaysia came out of the 90's just fine.

for a reference here is early krugman, he sings a much different tune these days:
http://www.slate.com/id/35534/

i really admire Iceland for what they have done; and sweden years back handled their banking crisis perfectly--they nationalized the failing banks and booted the execs who made the mess. and let the bondholders and shareholders take the losses, as they should, rather than the public.

what have we got: the vampire squid, goldman-sachs.

thanks much for the link. hard to keep tabs on the iceland bank saga, does not get much press in the US.