Iceland Just Jailed 7 Bank Executives For Market Manipulation

[L0oniX]

Their sentences range from one to four years.

According to The icelandmonitor: “By fully financing share purchases with no other surety than the shares themselves, the bank was accused of giving a false and misleading impression of demand for Kaupþingi shares by means of deception and pretence.”

They were accused of trying to artificially inflate share prices in 2008 by using the bank’s funds to buy shares.

The Iceland Reveiew reported: The court case began in late April, and the hearings were the most wide-ranging and complex in Icelandic legal history. Over 50 witnesses were called, and testimony lasted for many weeks. They were quizzed on the nine defendants’ suspected illegal trade in their own bank’s shares in the lead up to its collapse. Charges laid by the Special Prosecutor claimed that the widespread illegal trade was carefully choreographed and highly deceptive.

By jailing these executives of Iceland’s failed Kaupthing Bank, the country showed the world how to deal with corrupt banks.

Read More: http://www.trueactivist.com/iceland-just-jailed-7-bank-executives-for-market-manipulation/?utm_source=fb&utm_medium=fb&utm_campaign=sh#.VY6aiuoGwE4.facebook

[PowerToThePeople]

1. K&R for taking the correct actions right from the start.

[JEB]

2. Meanwhile, back in the good ol' USA,

we have too big to fail and too big to jail for criminals of everything from fraud to to torture and war crimes. There will be no healing until the cancer is removed.

[Dustlawyer]

14. What we have is legal bribery and influence peddling. Americans need to wake up to

the fact that we have a group that is above the law preying on pensions, retirements, cities, municipalities, home owners and ultimately, the taxpayers (which ain't the bankers and corporations)!!!

The prosecution comes from Wall Street and that's where they go back to when their tour of duty is over. They now get big bonuses when they leave for a high level government post and when they return from one. The banks get caught, pay a seemingly big fine until you hear what the profits from the scams are!

Electing anyone but Bernie this cycle all but guarantees this shite will continue, climate change gets kicked down the road, and they will find a way to get into another conflict to sell/use more weapons and ordinance. ENOUGH IS ENOUGH!!!

[Enthusiast]

23. Well said. Especially the Bernie part.

[Enthusiast]

21. You are so right on!

This country has gone off the rails.

[Wilms]

3. And we haven't declared war on Iceland yet?

To paraphrase GHWB; "This aggression will not stand!"

[L0oniX]

4. We're preparing to attack Sylvania first.

[hifiguy]

29. Fredonia will not be pushed around by

those arrogant Sylvanian swine!

[colsohlibgal]

5. Kudos To Iceland

They are highlighted at the start of the documentary "Inside Job" - contrasting how they handled being financially ripped off and bankrupted by the banksters to the way we handled it - or rather did not handle it.

Here, not only did we bail them out as a reward for their bloodthirsty greed, we let them keep all those riches they got via fraud and ripping off the public.

Obama and his stooge Attorney's General - fines and usually no requirement by the banksters to admit any wrongdoing. And the fines - 25 million or so - like fining most of us $10.

American Exceptionalism at it's best.

[packman]

6. And,not only that -

The bastards turned around and sued the US Govern. for not giving them enough. In addition, they used part of that money to pay themselves some handsome bonus money in order to keep the "best" people around to steer them through those troubled times.

Greed and arrogance - mark of U.S. banking

[daleanime]

7. K&R.....

[Fumesucker]

8. Iceland is culturally homogeneous, evidently sociopathy lacks the high social cachet it has here

[L0oniX]

9. Apparently their banksters did not value campaign contributions enough.

[CTBlueboy]

10. You mean bankers go to jail

WOw

I never knew bankers went to jail , only if we had a candidate that would do the same

oh

we do ! Bernie Sanders

[appalachiablue]

12. Even Dutch (RR) punished some of them for the S & L fraud in the 80s. But now the banksters rule,

Last edited Sun Jun 28, 2015, 12:40 PM - Edit history (1)

in the Treasury, IRS and other federal agencies and internationally in Europe, London and through the IMF and World Bank. From 1933 until the Reagan 80s, banking was a necessary but boring occupation. That all changed with the dismantling of FDR's New Deal banking reforms that were rolled back by Reagan and then Clinton's repeal of Glass Steagall in 1999 under the direction of Bob Rubin in Treasury and other Wall Streeters in the administration. Banksters are powerful, uberwealthy rockstars and kingmakers since the since the 80s don't cha know.

Larry Summers and Clinton



Obama and Robert Rubin

[smirkymonkey]

11. If only we would follow suit.

K&R

[appalachiablue]

13. Amen!

[Jefferson23]

15. What a novel idea, a crime is committed and they go after the culprits. n/t

[rurallib]

16. one to four years frankly seems very lenient for such crimes

especially compared to US laws that can get a person life for a joint.

Wonder if there was any show of remorse?
Also wonder if there will be any rehabilitation where these guys could get real jobs when they get out.

Maybe they could form a rock band and call themselves "Watch Your Wallet"

[jalan48]

17. Quick! Let's tell Obama to schedule a Presidential visit to Iceland!

[Rex]

18. Megafuckingsighage...

Must be nice.

[Omaha Steve]

19. Will this get the USA started on a similar action

[Enthusiast]

22. Any day now.....

[calimary]

24. Oh probably not. =( But it SHOULD! ]=(

[BeanMusical]

20. Kick and R

[Enthusiast]

25. K&R! This post deserves hundreds of recommendations!

We should be united in this if nothing else. One would think. But.........

[L0oniX]

26. I'm sure that Hillary will get this all straightened out.

[Enthusiast]

27. Yes. She would never tolerate the financial sector running roughshod over the American people.

[hifiguy]

28. This is how it is done, Mr. Obama.

No soup for you.

[L0oniX]

34. +1

[seveneyes]

30. This is the end

[raouldukelives]

31. K&R Banksters and fraudsters best start stocking up on aloe vera. nt

[sadoldgirl]

32. Nothing of that sort will happen here,

because they have too much power.

However, will the Greeks follow that example?

[bhikkhu]

33. That it took them 7 years to bring the case suggests the difficulty

of criminal prosecutions for organized financial malfeasance. I have no doubt that there was prosecutable wrongdoing by individuals here, but the approach of large financial penalties ($128 billion so far) for corporate offences may have a larger overall impact on the industry than a few guys spending a few years in jail.

[Doctor_J]

35. you honestly think that fines deter these people???

We gave them billions of tax dollars to pay the fines. You need to stop scraping for excuses for everything Obama does. Face reality once in a while.

[Doctor_J]

36. here's what happens to criminals in the US

?w=821

[L0oniX]

37. ^^^this^^^ Nailed it!