Wall Street Deregulation Garners Bipartisan Support Despite Devastating JPMorgan Report

[green for victory]

19. 2012 Iceland solution is less bloody

and they get to think about things for awhile

Icelandic bankers jailed for reckless loans made before crash

29 December 2012

Two of Iceland's most senior former bankers have been jailed for making reckless business loans, following investigations stemming from the collapse of the country's banks in 2008.

Larus Welding, the former chief executive officer of failed Icelandic bank Glitnir, and Gudmundur Hjaltason, a former director at the bank, have each been sentenced to nine months in jail for fraud, a court ruled.

They were sentenced by the Reykjavik District Court after the two men were indicted a year ago on charges that they had "misused their position and grossly endangered the bank's funds" by lending €102m to a company called Milestone ehf without guarantees or collateral, the prosecutor said. At the time Milestone was a shareholder in the bank.

Collapse

They are the first bankers from Iceland's three largest lenders to be sentenced to jail for activities linked to the country's financial and economic collapse in 2008...MORE
http://www.independent.ie/business/world/icelandic-bankers-jailed-for-reckless-loans-made-before-crash-28952296.html

Our media is too busy to cover Iceland. They work hard, after all. Almost as hard as the bankers.