Through elaborate twists and turns Catharine Zeta-Jones had to risk her life in a break in to get her hands on the jewels she coveted in Entrapment. But if you happen to own or control a business which has been bankrupted in Iceland in the last couple of years, the way back to 2007 is made [...]

until the end of February…the investigation committee’s report… …now what?

According to DV.is Asbjorn Ottarsson, Independence Party MP paid himself and his wife 65 million ISK in dividends from their fishing company Nesver in 2008. The company lost 574 million ISK in the same year and had a negative equity of 157 million ISK. This is one of the 63 people who is supposed to provide a [...]

It is clear as dayligth that the political and financial elites which control the “four parties” decided early in the economic collapse to sacrifice the indebted households in the country. This was done while a fortress was erected around owner of capital and the criminals who bankrupted the country. Most things indicate that the politicians decided [...]

Excerpts from a farewell letter from someone who’s been in regular touch throughout the year. A foreigner living and working in Iceland, someone who’s been working hard and taking the time to study the language, whose first emails showed as much bewilderment as the rest of us,  ”I went from living in one of the world’s richest countries [...]

…is the most corrupt time in the history of Iceland… …not 2002… ..not 2007.. but right now

A brilliant recap of 2009 by reporter Magnus Geir Eyjolfsson from Pressan.is The IceSave issue finally closed yesterday with the historic vote of Althingi, ending one of the most humiliating year for politics ever, in an appropriate manner I must say. Never before has such a large group of people embarrassed itself as thoroughly and disappointed [...]

Bjorgolfur Thor was handed Landsbankinn through privatization because he was supposed to have made a mint abroad and re-investing it in the Icelandic economy was seen as a positive move. Landsbankinn’s bankruptcy within six years then turned out to be one of the biggest in history. Not just in Iceland but anywhere. The bank’s IceSave legacy then [...]

Of course nobody in Iceland WANTS to pay the IceSave debt accumulated by Landsbankinn. Neither do we WANT to pay the cost of the Central Bank bankrupted by the Independence Party. But those organizing “national votes” or petitions denying responsibility appear utterly silly. The debt won’t go away just by saying no, we don’t WANT to pay [...]

Posting will be infrequent in the next few days. Here is the “good” stuff from Wikileaks.