Bankers
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36 Bankers, 96 Years In Jail
Local news outlet Fréttablaðið has calculated that in the past few years the Icelandic judiciary has sentenced 36 bankers to a total of 96 years in prison. All of the criminal cases are linked to the notorious crash of the Icelandic banking system in 2008. …
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Slowdown In Iceland’s Economic Growth Is Good, Says Central Chief Banker
Thanks to the tourist boom following the 2008 financial crisis, Iceland’s economy has experienced a period of strong growth, despite it being one of the countries worst affected by the crash. Now, this growth has started to slow. Fortunately there’s no need…
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For & Against: Bonuses For Bankers
FOR: If there’s one group of marginalised people who suffer constant persecution, it’s bankers. They’re the last minority over whom it’s still ok to pour scorn and ridicule. They’re hugely underappreciated, and get nothing but abuse for all the hard work that…
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Kaupthing Bankers Awarded Bonuses In Closed Meeting
In a closed door meeting held yesterday, the holding company of Kaupthing bank awarded bonuses to certain “key employees” totaling 1.5 billion ISK, with some receiving payouts of 100 million ISK or more. Foreign shareholders were present at the meeting, which was…
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Jailed Bankers To Be Freed
Three jailed Kaupthing bankers will be freed today due to a change in legislation. Former Kaupthing Chairperson of the Board Sigurður Einarsson, former Kaupthing Luxembourg CEO Magnús Guðmundsson and former 10% owner of Kaupthing Ólafur Ólafsson will all be released from Kvíabryggja…
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Pity The Poor Bankers Who Ruined Us All
Last night, Icelanders were treated to a group interview on television station Stöð 2 with three of the Kaupthing bankers whose actions were instrumental in bringing down the Icelandic economy in 2008, and are all currently doing time in the Kvíabryggja minimum…
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Jailed Bankers Complain Michael Moore Filmed Them
Bankers currently serving prison sentences have filed a formal complaint, saying filmmaker Michael Moore filmed them without their permission, amongst other grievances. RÚV reports that Magnús Guðmundsson, Ólafur Ólafsson and Sigurður Einarsson, all of whom are currently doing time in Kvíabryggja prison…
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So What’s This I Hear About Bankers Defunding Poets?
In 2011, a teacher named Þórarinn Hannesson established the Poetry House (“Ljóðasetur”) in Siglufjörður, a small fishing hamlet up north. Its operations have been mostly funded by the founder himself, with the help of various private donors. The largest of those, a…
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Bankers Behind Bars: Is Iceland Living Up To That Meme
One frequently encounters foreigners who believe that Iceland offers a unique model of how to deal with a financial crash. A popular internet meme that purports to explain how Icelanders dealt with the crash features a photo of President Ólafur Ragnar Grímsson…
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So What’s This Jailing Of Bankers I Keep Hearing About?
For several years, the internet has been teeming with stories of how Iceland sent their bankers to jail. They are, largely, not true. While a handful of bankers have received jail sentences in the years since the 2008 financial crash, their sentences…
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Convicted Icelandic Banker Seemingly Drunk On National TV
Recently convicted banker, former chairman of the Kaupthing board, Sigurður Einarsson, conducted an interview with RÚV last night, while seemingly heavily intoxicated. An unnamed RÚV source who was present when the interview was broadcast has confirmed with the Grapevine that newsroom staff…
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Icelanders Really Jailed Some Bankers Today
The former CEO of Kaupþing, former chairman of the board of Kaupþing, former CEO of Kaupþing Luxembourg and former owner of 10% of Kaupþing all got sentenced to prison today by the supreme court of Iceland, reports Kjarninn. Former CEO Hreiðar Már…
