The idea of an IceSave memorial is a great one. So here is a homage to the people who got us IceSave.               As Prime Minister and Finance Minister, David Oddson and Geir Haarde privatized Landbankinn into the hands of Bjorgolfur Gudmundsson, who had no experience in banking but [...]

How tight was the grip Icelandic banks had on their society in the last decade? Journalist Anna Kristine Magnusdottir tells of the death threats she received while she was working on a piece for DV in 2007. The story was about the mistreatment of children at a juvenile home at Kumbaravogur. Out of nowhere she [...]

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? [...]

Bjorgolfur Gudmundsson is bankrupt. His personal debts amount to 96 billion ISK, the largest individual bankruptcy in Icelandic history. This is how highly leveraged you can get if you own a bank. So now 66.66% of the people that were handed Landsbankinn by the Independence Party have become bankrupt. Magnus Thorsteinsson having been bankrupted to [...]

Since Newsweek was pointing fingers this week with its “Who’s to blame” report, it only makes sense that Icelanders start extending their index fingers. For every Fred Goodwin, there is a Bjarni Armannsson and for every David Oddson…well there are actually few people who could have made as much mess in history as David Oddson. [...]

This should be big news. Today’s Frettabladid reports the following: “Two young men, born in 1989 and 1990 who are suspected of massive financial fraud are being kept in isolation under arrest because of the seriousness of their case. This is revealed in the courts’ verdict at their hearing. The men are believed to have [...]

Every day brings a new queasy revelation in the country which the Germans now call Crisisland. Today I met someone who is leaving the country, relieved to get away from all the negativity that has infiltrated every thread of society. Another friend said he foresaw the future in the same way. Occasionally you will find [...]

When I was a student at a university in the US, the women’s soccer coach was fired from his job for pushing a player. This despite his record of leading the team to the final four in consecutive seasons. This was eight years ago and he still hasn’t been able to find another job as [...]

My sympathy is truly there for the Dutch and British savers who lost their money.  I would like them to get back as much as possible. But I do not want to pay that money myself. I do not want lower public service or higher taxes. And I don’t want to be walking down main [...]

Is it a good idea for such a large stake in the bank to be controlled by individuals with no track record in banking? And what’s the background of these people who apparently earned their fortune in the beverages business in Russia? Indeed the validity of one of their first, key acquisitions in Russia – [...]