"Am I therefore become your enemy,because I TELL YOU THE TRUTH...?"
(Galatians 4:16)

Thursday, May 13, 2010

Bankers jailed, sued as Iceland seeks culprits for crisis

More than a year and a half after Iceland’s major banks failed, all but sinking the country’s economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.Since Iceland’s three largest banks-Kaupthing, Landsbanki and Glitnir-collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.But the publication last month of a parliamentary inquiry into the island nation’s profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken “inappropriate loans from the banks” they worked for....

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