Sir Fred Goodwin is hardly beloved of the British public. But imagine just for a second how we would feel if the former RBS boss had been dishing out loans of £1bn plus to himself, his mates and their companies. People might want to chop off more than his pension. Now picture a fictional scenario [...]

Did you ever think that you would be this rich? Did you ever think that you would have these hits? Did you ever think that I’d flash the nine? And walk off with your shit like it’s mine? I’ma keep stickin niggas until I’m livin’ Did you ever think that you would be this rich? [...]

Geir Haarde, the fallen PM appeared on the Europe Today show at BBC. Diverting the attention from Iceland and focusing on Ireland and Latvia, Geir also claimed that the economic disaster had caught him by surprise. The real surprise is why anyone actually offers the man a forum anymore? Listen here

So what do you do after turning in a false report on the status of the Icelandic economy? (See here) How do you spend the $135.000 the Icelandic Chamber of Commerce paid you to do the report? (Just Mishkin) How do you celebrate the fact that you don’t have to pay the 300 million ISK [...]

Rowena Mason at the Telegraph is one of few foreign journalists at a major paper that have realized the scale and implications of the Icelandic economic meltdown; But Dr Jon Danielsson, an Icelander who teaches economics at the London School of Economics, believes that while the timing of the crash was dictated by the global [...]

I have been away from any sort of Internet connection. It was good to get away from any mention of IceSave for a few days. Yesterday it was five years since I started working at Kaupthing. On August 23rd it will be half a decade since Kaupthing offered mortgages to the public, the first bank [...]

If you want proof of how sick this society really is, then this photograph says more than a thousand words. David Oddson, chief architect behind the society that brought us to the IceSave debacle, the man who privatized Landsbankinn into the hands of the men who destroyed Iceland’s reputation and financial credibility standing on Austurvollur [...]

Some compare the plan to the Versailles treaty’s harsh demands of Germany. A better analogy is the 1982 Latin American debt crisis, in which even Chile, poster boy of Chicago School economics, saw the state take over a mountain of private debt. A decade of stagnation followed. The same could be in store for Iceland. [...]

Reagan was wrong. State spending is all that has stopped America’s slump becoming catastrophic Paul Krugman in the Guardian

Gunnar Andersen, director-general of the Financial Supervisory Authority, said his agency was convinced “serious” manipulation had taken place and vowed to root out the perpetrators. “We have looked at several cases where we firmly believe it [was] market manipulation and there are more coming up,” he told the Financial Times. From the Financial Times