6500 billion ISK. Jeesus.
Landsbanki by itself is a bigger fraud than Enron or Madoff.
Where did all that money go?
Sure, a lot of was skimmed off by the brokerages and hedge funds – but what about the rest? It is probably sitting in overseas accounts belonging to BJORGULF, BJORGULF JR, FRIENDS OF BJORGULF, EX_LANDSBANKI OFFICERS AND DIRECTORS, SJALFSSTAEDISFLOKKUR MEMBERS AND FRIENDS and the RUSSIAN MAFIA.
There is not so many names in the list – a little more then 11,000.
I haven’t seen a single Russian one. So live Russian mafia alone. They are not aware of such place as Iceland. But if you cry too much – they might notice it. Then we’ll be in trouble indeed.
For sure they’ll buy all Icelandic football clubs – both boys and girls!
Bromley86
2 years ago
Well, you wouldn’t really expect to see “Russian Mafia” on the creditors list.
Not for the obvious reason, but rather because people on the creditors list are the ones being shafted. So the fact that there aren’t any Russians on the list does nothing to disprove Vilhjalm’s almost-certainy-true-but-impossible-to-prove point.
Carl Mosconi
2 years ago
Don’t lose track that if an election were held today, the same folks that got Iceland into the situation it is in today would be re-elected. Ms. Palin in the U.S. who thinks that evolution and creation should be taught together and believes that we couldn’t possibly be related to monkeys would also stand a good chance of being elected a couple of years from now. Never underestimate the lack of good sense when it comes to electing people to a public office. Dementia sets in quickly when the polls open!
“So leave the Russian mafia alone” – That is a quote for a T-shirt if I have ever seen one.
I agree with Bromley, it would be unusual to say the least of one of the official creditors were “The Russian Mafia”, which in itself is an elastic concept.
Tallbloke
2 years ago
“On 16 November 2009 a list of all claims lodged against the bank will be made available to creditors at the following URL: http://lbi.is/creditor-information/Login.aspx . Access to these pages requires a user name and password.
Please bear in mind that the list of claims and other material published at this web location is confidential and intended exclusively for the use of those parties who have lodged claims against the bank.”
>”Yep. BTW, given your Russian connection, what’s your take on Bjorgolfur & the brewery?”
Bjorgolfur was just lucky – first time when he jumped into the empty and thirsty market. Then he was lucky second time to “blend” into market realities (instead of trying to do business “western democratic” way). And third time he was lucky – to jump out of it at the right moment.
There are thousands of other who were not lucky. And some of then had been dead…
Bjorgolfur was not something special – he was very pragmatic and looked at thing as they were (not as they “should be”).
This is my personal opinion.
Just to give you some perspective and idea what “market” it was then. To buy beer we sent a person in the morning (9 am) to the only “store” in the area (and provide “cover” for him if someone asked his whereabouts). If he was lucky – he got beer by 1-2pm. Or not at all. In small towns people couldn’t buy beer at all (my town was twice the Iceland population). So there was no problem for Bjorgolfur to sell everything he was producing. In fact the demand was always higher than production.
Auch die Übernahme von 65 Prozent der Bulgarischen Telekom für 620 Millionen Euro durch den isländischen Milliardär Thor Bjorgolfsson vor wenigen Wochen wird in diesen Kreisen als weitere Masche in dem kriminellen Netzwerk gesehen. “Er ist doch ein Handlanger der russischen Mafia”, sagt ein Deutscher in Sofia, der zum Kritikerkreis gehört.
(Bad)Translation:
Also the takeover of 65 percent Bulgarian Telekom for 620 million euros by Icelandic multi-millionaire Thor Bjorgolfsson few weeks ago is seen in these circles as another mesh in the criminal network. “He is an errand boy for the Russian mafia”, says a German in Sofia who is among the critics.
Vilhjalm A.
2 years ago
6500 billion ISK. Jeesus.
Landsbanki by itself is a bigger fraud than Enron or Madoff.
Where did all that money go?
Sure, a lot of was skimmed off by the brokerages and hedge funds – but what about the rest? It is probably sitting in overseas accounts belonging to BJORGULF, BJORGULF JR, FRIENDS OF BJORGULF, EX_LANDSBANKI OFFICERS AND DIRECTORS, SJALFSSTAEDISFLOKKUR MEMBERS AND FRIENDS and the RUSSIAN MAFIA.
Alexander E.
2 years ago
Vilhjalm A.
There is not so many names in the list – a little more then 11,000.
I haven’t seen a single Russian one. So live Russian mafia alone. They are not aware of such place as Iceland. But if you cry too much – they might notice it. Then we’ll be in trouble indeed.
For sure they’ll buy all Icelandic football clubs – both boys and girls!
Bromley86
2 years ago
Well, you wouldn’t really expect to see “Russian Mafia” on the creditors list.
Not for the obvious reason, but rather because people on the creditors list are the ones being shafted. So the fact that there aren’t any Russians on the list does nothing to disprove Vilhjalm’s almost-certainy-true-but-impossible-to-prove point.
Carl Mosconi
2 years ago
Don’t lose track that if an election were held today, the same folks that got Iceland into the situation it is in today would be re-elected. Ms. Palin in the U.S. who thinks that evolution and creation should be taught together and believes that we couldn’t possibly be related to monkeys would also stand a good chance of being elected a couple of years from now. Never underestimate the lack of good sense when it comes to electing people to a public office. Dementia sets in quickly when the polls open!
Alexander E.
2 years ago
>”almost-certainy-true-but-impossible-to-prove point”
Bromley.
)))
Sometimes it’s called paranoia
Bromley86
2 years ago
Yep. BTW, given your Russian connection, what’s your take on Bjorgolfur & the brewery?
Dadi
2 years ago
“So leave the Russian mafia alone” – That is a quote for a T-shirt if I have ever seen one.
I agree with Bromley, it would be unusual to say the least of one of the official creditors were “The Russian Mafia”, which in itself is an elastic concept.
Tallbloke
2 years ago
“On 16 November 2009 a list of all claims lodged against the bank will be made available to creditors at the following URL: http://lbi.is/creditor-information/Login.aspx . Access to these pages requires a user name and password.
Please bear in mind that the list of claims and other material published at this web location is confidential and intended exclusively for the use of those parties who have lodged claims against the bank.”
Shocking for several parties I think.
Alexander E.
2 years ago
>”Yep. BTW, given your Russian connection, what’s your take on Bjorgolfur & the brewery?”
Bjorgolfur was just lucky – first time when he jumped into the empty and thirsty market. Then he was lucky second time to “blend” into market realities (instead of trying to do business “western democratic” way). And third time he was lucky – to jump out of it at the right moment.
There are thousands of other who were not lucky. And some of then had been dead…
Bjorgolfur was not something special – he was very pragmatic and looked at thing as they were (not as they “should be”).
This is my personal opinion.
Just to give you some perspective and idea what “market” it was then. To buy beer we sent a person in the morning (9 am) to the only “store” in the area (and provide “cover” for him if someone asked his whereabouts). If he was lucky – he got beer by 1-2pm. Or not at all. In small towns people couldn’t buy beer at all (my town was twice the Iceland population). So there was no problem for Bjorgolfur to sell everything he was producing. In fact the demand was always higher than production.
>”“So leave the Russian mafia alone” © ruslendingur
Just in case, Dadi, just in case
PS. As we now know – full scale corruption is not a Russian phenomena
Blubber
2 years ago
From Welt online, January 2006:
http://www.welt.de/print-wams/article136961/Holprige_Fahrt_vom_Balkan_nach_Europa.html
Auch die Übernahme von 65 Prozent der Bulgarischen Telekom für 620 Millionen Euro durch den isländischen Milliardär Thor Bjorgolfsson vor wenigen Wochen wird in diesen Kreisen als weitere Masche in dem kriminellen Netzwerk gesehen. “Er ist doch ein Handlanger der russischen Mafia”, sagt ein Deutscher in Sofia, der zum Kritikerkreis gehört.
(Bad)Translation:
Also the takeover of 65 percent Bulgarian Telekom for 620 million euros by Icelandic multi-millionaire Thor Bjorgolfsson few weeks ago is seen in these circles as another mesh in the criminal network. “He is an errand boy for the Russian mafia”, says a German in Sofia who is among the critics.