This week the CEO of BM Valla, a cement-producer accused the state-owned Islandsbanki (formerly Glitnir) of distorting competition in favor ofrivals Steypustodin. The reason is supposed to be that Islandsbanki has taken over Steypustodin and is trying to rescue what can be rescued from their business. So they have been directing business from construction companies [...]

“The current situation of Iceland is worse than any recession that any nation has had to endure since the Great Depression.” The consultants at Oliver Wyman who have been looking into the assets of the failed Icelandic banks make no bones about it. Morgunbladid has published extracts from their memo to the Icelandic government from [...]

For those interested in Glitnir’s Fund 9.  fundargerdir300908

  So what happened at Glitnir’s Fund 9? According to some journalists, people who want answers are advised against going there as it can only end up badly. Former investors are maintaining that a few investors were able to get rid of their worthless FL Group/Stodir paper into the fund, which then was bailed out [...]

Glitnir The Independence Party might have enough on their plate with the scandal surrounding the donations from FL Group and Landsbankinn. Andri Ottarsson has resigned as the CEO, issuing a statement saying he had nothing to do with the donations but he still wanted to resign to help the party regain some credibility (why is [...]

Islandsbanki, formerly Glitnir were the first to confuse themselves with a being a public bank when they announced that they were offering those with currency loans solutions the day before the government announced such initiatives. Landsbankinn is now running an ad campaign offering home-loans free of price-indexation, a novelty that Icelandic households have been crying [...]