Egill Helgason gets it spot on. Icelanders are taking the debts of the rich and giving it to the poor. When the fishing quota system was initiated the quota was handed to selected fisheries, amongst them fisheries owned by members of parliament, who did not have to pay a single krona for it. They then [...]

Normally the University of Iceland recieves around 200 applications this time of year. Now it is 1.600. Many who applied are unsure whether they will receive a place. The economic geniuses that are the government of Iceland have announced the new heftily deficited budget and there are cuts for the universities that are expecting record [...]

[youtube=http://www.youtube.com/watch?v=npHWX1dciOE&eurl=http://failblog.org/2008/12/10/cult-procession-fail/&feature=player_embedded] I had forgotten about this video. This is the state-sponsored church in Iceland meeting in Reykjavik. Of course the Dark Lord is watching over them. That explains a lot about Geir Haarde’s cabinet.

It is a talk that I have had with many people I know lately. Some who were senior people in big businesses, others who were lower level, and others who did not come near any business at all but have been watching from the outside. “Maybe we are the idiots. Maybe the ones who profited [...]

In the wake of the financial crisis in Iceland, there should be a new field created  in economics, Genealogy Economics. Maybe it already exists but it would be the study of how families and friends connect to obtain positions of power and economic gain. For example: David Oddson Central Bank Governor and former prime minister [...]

An interesting by-product of the censorship case at DV is the mud-slinging that is beginning in the press. Agnes Bragadottir of Morgunbladid condemned the editors of DV with holy wrath when the story broke. They are hitting back and reminding their readers that when Arni Johnsen, Independent Party member of parliament was accused of theft [...]

The Exista brothers, Lydur and Agust Gudmundsson were amongst the first vikings in the boats when the Icelandic business raiders headed off to Europe. Agust used to tell the story of how they made the impossible possible to crowds of employees of different companies that they were big owners in. They were presented as role-models [...]

If Iceland has an Imelda Marcos, a Ceaucescu or a Mugabe, a politician who profits obscenely through connections and power then that politician is Finnur Ingolfsson. Finnur was the minister of industry before the turn of the century when he suddenly quit, citing unfair criticism that was dragging him down. He then became one of [...]

A couple of years ago Birna Einarsdottir lead the re-branding of Islandsbanki into Glitnir. Now she is the new CEO of the new Glitnir she is stuck with a broken brand. Actually a disease-ridden brand. So Glitnir has decided to re-rebrand itself, to Islandsbanki. Is this review-branding? Or rearview-branding? It cost tens of millions to [...]