First They Jailed The Bankers, Now Every Icelander To Get Paid In Bank Sale

IcelandSyriaOCTOBER 29, 2015                                                                                                             By Claire Bernish

First, Iceland jailed its crooked bankers for their direct involvement in the financial crisis of 2008. Now, every Icelander will receive a payout for the sale of one of its three largest banks, Íslandsbanki.

If Finance Minister Bjarni Benediktsson has his way — and he likely will — Icelanders will be paid kr 30,000 after the government takes over ownership of the bank. Íslandsbanki would be second of the three largest banks under State proprietorship.

“I am saying that the government take some decided portion, 5%, and simply hand it over to the people of this country,” he stated.

Because Icelanders took control of their government, they effectively own the banks. Benediktsson believes this will bring foreign capital into the country and ultimately fuel the economy — which, incidentally, remains the only European nation to recover fully from the 2008 crisis. Iceland even managed to pay its outstanding debt to the IMF in full — in advance of the due date.

Guðlaugur Þór Þórðarson, Budget Committee vice chairperson, explained the move would facilitate the lifting of capital controls, though he wasn’t convinced State ownership would be the ideal solution. Former Finance Minister Steingrímur J. Sigfússon sided with Þórðarson, telling a radio show, “we shouldn’t lose the banks to the hands of fools” and that Iceland would benefit from a shift in focus to separate “commercial banking from investment banking.”

Plans haven’t yet been firmly set for when the takeover and subsequent payments to every person in the country will occur, but Iceland’s revolutionary approach to dealing with the international financial meltdown of 2008 certainly deserves every bit of the attention it’s garnered.

Iceland recently jailed its 26th banker — with 74 years of prison time amongst them — for causing the financial chaos. Meanwhile, U.S. banking criminals were rewarded for their fraud and market manipulation with an enormous bailout at the taxpayer’s expense.

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2 thoughts on “First They Jailed The Bankers, Now Every Icelander To Get Paid In Bank Sale

  1. It is “GREAT” to hear accountability has come to play and direct compensation for fraudulent bank activity is coming back to the Icelandic peoples soon.

    Take a look at how the government fraud shell “Game” is played in the USA in cooperation with the US banks. You will then realize why the “U.S. banking criminals were rewarded for their fraud”

    TREASON: “Treason doth never prosper; what’s the reason? For if it prosper, none dare call it treason.” Sir John Harrington, 1561-1612

    When will real accountability come to play in the USA? That is a real hard nut to crack based on the “MASSIVE” wealth involved and the entrenchment of those players involved..

    Two Hour – Coast to Coast with George Norry

    Chattanooga, TN Radio – October 2015

    Example listing of 4500 CAFRs listed by category and state (long page) Have your US friends Download the example CAFRs from their locale in the US, put on one DVD, and distribute to the activists in their state – http://cafr1.com/listings/Listings.html

    ____________________________________

  2. CAFR1,

    Thank you for your comment. Here it is almost 2 months later before I see it. Dial-up is really frustrating. Since I read about CAFR’s about 3 years ago, I have collected Humboldt County’s and Eureka’s CAFR each year. Eureka can’t seem to get their financial report done until MAY of the following year! Then, once I get these CAFR’s, they’re impossible to decipher with all of the ‘Account’ titles, and not using Generally Accepted Accounting Principles, AND applying debt into future years – sheesh!

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