Tag Archives: ICELAND

Iceland Sentences 26 Corrupt Bankers to 74 Years in Prison

-1

Iceland Sentences 26 Corrupt Bankers to 74 Years in Prison

Iceland just sentenced their 26th banker to prison for his part in the 2008 economic collapse. The charges ranged from breach of fiduciary duties to market manipulation to embezzlement.

Prior to the recession, Iceland had one of the more thriving economies in the world, in spite of the fact that their total population (327,000) wouldn’t even fill a mid-sized American city. When the recession struck, they were among the earliest and hardest hit. However, instead of running to the vaults to shower the banks with money, they let the banks fail.  READ MORE…