Iceland
sentences 26 bankers to a combined 74 years in prison. This is
something that you will never see in the bankster-dominated European
Financial Dictatorship called eurozone, or, in the bankster-dominated
empire called United States.
In two
separate Icelandic Supreme Court and Reykjavik District Court
rulings, five top bankers from Landsbankinn and Kaupping — the two
largest banks in the country — were found guilty of market
manipulation, embezzlement, and breach of fiduciary duties. Most of
those convicted have been sentenced to prison for two to five years.
The maximum penalty for financial crimes in Iceland is six years,
although their Supreme Court is currently hearing arguments to
consider expanding sentences beyond the six year maximum.
After the
crash in 2008, while congress was giving American banks a $700
billion TARP bailout courtesy of taxpayers, Iceland decided to go in
a different direction and enabled their government with financial
supervisory authority to take control of the banks as the chaos
resulting from the crash unraveled.
Back in
2001, Iceland deregulated their financial sector, following in the
path of former President Bill Clinton. In less than a decade, Iceland
was bogged down in so much foreign debt they couldn’t refinance it
before the system crashed.
Almost eight
years later, the government of Iceland is still prosecuting and
jailing those responsible for the market manipulation that crippled
their economy. Even now, Iceland is still paying back loans to the
IMF and other countries which were needed just to keep the country
operating.
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