Bjorgolfur Thor is no longer on the Forbes billionaire list. And Hannes Smarason of FL Group fame personal debts to Landsbankinn amount to half the IceSave amount owed to the Brits and the Dutch according to the latest calculations. Of course without proper collateral or what?

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. [...]

  How did the banks of a country the size of a single London suburb manage to burn through so many billions? And what is being done to recover assets for the creditors of the banks? Only a few months ago many believed that Iceland was just another victim of the global financial crisis. In [...]

The significance of the relevation behind the Independence Party’s acceptance of 55 million ISK from FL Group and Landsbankinn should not be underestimated. It is one of the biggest newsstories in Icelandic history. Here is why: FL Group was a company listed on the Icelandic Stock Exchange where Jon Asgeir Johannesson of Baugur Group and [...]

DV has been writing about the toybox of Hannes Smarason, Thorsteinn Jonsson and Magnus Armann. Apparantly they have a collection of luxury cars that they have been hiding in an underground car-park but are now preparing to transfer them abroad. It is suspected that this large collection of vehicles could go some ways to explain [...]