Gudbjorg Matthiasdottir must surely be the economic crisis’ ultimate winner.
She displayed astute business sense by selling off her 1.71% share in Glitnir worth 3.5 billion ISK on the last day before it collapsed.
She then partnered with a few other fishing magnates to buy the financial wreck that was Morgunbladid, after a 4 billion ISK write off from Glitnir.
Gudbjorg’s long-time lawyer and personal advisor is one Gunnlaugur Saevar Gunnlaugsson who has served in several high-profile positions on the behalf of the Independence Party while David Oddson was its party leader.
She then took part in hiring disgraced former prime minister and central bank governor David Oddson as editor in chief, pumping money into turning the paper into a fishing lobby propaganda tool, designed to avoid reform in the fishing industry and keep Iceland away from the EU. Which has been a great success so far as the government has had to fall back on its promise of fishing industry reform and that 70% of the nation believes that bad foreigners in the EU eat poisoned food, can not wait to rob us blind, want us to speak German and eat straight cucumbers.
And now she is the tax queen of Iceland.
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Lino
1 year ago
a very, very lucky woman (honni soit qui mal y pense!) or do I smell “INSIDER TRADING”?
Now, who got the misfortune of buying her doomed 1.71%?
A private economic operator who obviously got burned?
Or a “public” economic operator MEANT to get burned?
Bromley86
1 year ago
>Now, who got the misfortune of buying her doomed 1.71%?
When I started following the collapse, I assumed that any shares sold were traded on the open market. I’ve since seen how naive I was
. So, option 2 (and don’t forget that Glitnir probably lent the money to that company with no real security).
Lino
1 year ago
1.71% in one go in one trading day just the day before it collapsed (LUCKY LUCKY coincidences!) would leave trace in volumes and in prices, who knows perhaps she caused the collapse
:):) at least in term of market price.
On the other hand, if it was in only 1 transaction off the trade floor, well, it’s not that she woke up the same day, thought “what a nice idea: I’m going to DUMP the whole 1.71%, how can I do that? I gonna improvise, make a round of phone calls, perhaps about someone that woke up the same day and spontaneously and independently thought that buying 1.71%, a 1.71% that 1.71%, MY 1.71% is a nice idea. After all it’s just 3.5 billion ISK…”
:):)):):):)
What I mean is that a transaction of such a size is not something you decide on impulse neither in selling nor in buying: it’s is planned.
And the unlucky buyer (sucker) must be found. Or set up.
Either it was a gross setup or we stop saying the “luck of the Irish” and say “the luck of the Icelandic, one in particular…”
:):):):)