When Tryggvi Thor Herbertsson, Independence Party MP started his job as CEO at Askar Capital in 2006 he was granted a loan for 300 million ISK to purchase shares in the bank. The loan was put into a company, owned 100% by Tryggvi and the company will now go bankrupt when the loan is due next year
The bank’s management and Tryggvi himself have said this was a natural kind of compensation when he signed onto the job. It would be unfair for him to be made personally responsible for things going so terribly wrong in the economy and at Askar.
Meanwhile a couple in Reykjavik are dreading October this year when their currency mortgage is supposed to be unfrozen. No solutions are forthcoming from their bank which thinks it is only natural that they honor the commitments they made.
Funnily enough, the committment they made was to pay back 30-50 million ISK (according to the possible currency fluctuations explained to them by the nice person at the bank) , not 120 million ISK.
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August 11th, 2009 → 11:38 pm @ Dadi
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