Leak blows Iceland banking scandal wide open

[AK]

Recently some anonymous whistleblower posted a confidential report from Iceland’s defunct Kaupthing Bank to wikileaks.org. Among many other things, the leak revealed that Kaupthing had made enormous undersecured or unsecured loans to directors, major shareholders, and other related parties. In so many words, insiders looted the bank for billions of euros, much of it as the bank was in its death throes last year.

Even given what’s known about last year’s meltdown I find myself speechless. Here’s a smattering of reports on the leak and its aftermath:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5968374/Kaupthing-loan-book-details-culture-of-the-collapsed-bank.html

http://www.huffingtonpost.com/iris-lee/icelands-independent-peop_b_250298.html

http://www.guardian.co.uk/business/2009/aug/04/iceland-bank-kaupthing-internet-leak

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5973630/SFO-intensifies-Icelandic-banking-inquiry-after-Kaupthing-leak.html

http://www.icenews.is/index.php/2009/08/04/kaupthing-loans-sheet-released-then-covered-up-again/

[briansd1]

Thanks for the links to the interesting stories.

I read somewhere before that living standards in Iceland were reset to 1981 levels.

Icelandic people need to hold their elite responsible. They have to take charge of their own future.

That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.

[briansd1]

Thanks for the links to the interesting stories.

I read somewhere before that living standards in Iceland were reset to 1981 levels.

Icelandic people need to hold their elite responsible. They have to take charge of their own future.

That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.

[briansd1]

Thanks for the links to the interesting stories.

I read somewhere before that living standards in Iceland were reset to 1981 levels.

Icelandic people need to hold their elite responsible. They have to take charge of their own future.

That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.

[briansd1]

Thanks for the links to the interesting stories.

I read somewhere before that living standards in Iceland were reset to 1981 levels.

Icelandic people need to hold their elite responsible. They have to take charge of their own future.

That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.

[briansd1]

Thanks for the links to the interesting stories.

I read somewhere before that living standards in Iceland were reset to 1981 levels.

Icelandic people need to hold their elite responsible. They have to take charge of their own future.

That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.

[dbapig]

wow.

Are those directors/major-shareholders/robbers still in Iceland?

[dbapig]

wow.

Are those directors/major-shareholders/robbers still in Iceland?

[dbapig]

wow.

Are those directors/major-shareholders/robbers still in Iceland?

[dbapig]

wow.

Are those directors/major-shareholders/robbers still in Iceland?

[dbapig]

wow.

Are those directors/major-shareholders/robbers still in Iceland?

[Nor-LA-SD-guy]

[quote=briansd1]That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.[/quote]

Yea I think that may be a good place to spend some retirement time, Ireland is on my list as well seems they are going through somewhat hard times again.

[Nor-LA-SD-guy]

[quote=briansd1]That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.[/quote]

Yea I think that may be a good place to spend some retirement time, Ireland is on my list as well seems they are going through somewhat hard times again.

[Nor-LA-SD-guy]

[quote=briansd1]That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.[/quote]

Yea I think that may be a good place to spend some retirement time, Ireland is on my list as well seems they are going through somewhat hard times again.

[Nor-LA-SD-guy]

[quote=briansd1]That’s a huge blow to a country of 300k, about 1/9th the size of San Diego county.

———

I’ve never had much desire to visit Iceland before. But if it’s cheap like Argentina was after its crisis, I’ll be sure to take advantage of the Icelandic bust.[/quote]

Yea I think that may be a good place to spend some retirement time, Ireland is on my list as well seems they are going through somewhat hard times again.

[Author]

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