How are they trying to cook this up? The banks are now agitating for re installing bonus systems for the employees of their private banking and corporate banking divisions. Now it is great if bonus systems are available for employees, but when implementing those some basic questions must be answered. What are we rewarding? Remember, [...]

At the end of the news article summarizing the details of the proposed transfer of Arion/Kaupthing, we find the following statement of Steingrimur J. Sigfusson, the Minister of Finance: “The Government is satisfied that Kaupthing Bank’s creditors have acquired the majority of the share capital in Arion Bank, and it is important for the development [...]

An female employee who’s been with Kaupthing’s asset management division for years, probably in the private banking division, was let go and her case is now with the police. She is accused of having stolen tens if not hundreds of millions ISK from her customers, something which was not discovered until the bank went bust. [...]

So the courts are finally nailing someone from the banks, in this case Kaupthing. But so far it is just the pawns that have been sacrificed. The real criminals have so far been protected. Two young men, a fund manager and a broker are accused of having put in false offers for shares in Exista, [...]

Iceland’s most controversial banker, Sigurdur Einarsson, the former executive chairman of failed bank Kaupthing, has been made an official suspect by fraud prosecutors examining alleged market manipulation relating to an investment in the bank by Qatari royal Sheikh Mohammed Bin Khalifa al-Thani weeks before its collapse a year ago. Einarsson, who lives in Chelsea, west [...]

According to the State Broadcastin Channel’s evening news, the Nordic management of Coca Cola Company has threatened Kaupthing with the revoking of the production licence if current owner Thorsteinn M. Jonsson does not keep the company. Thorsteinn who has been a close business partner of Jon Asgeir Johannesson has sat on the boards of several [...]

The new video from Jon Gerald Sullenberger.

New Kaupthing has reported the management of Exista, employees of Deloitte and the law firm Logos to the Special Prosecutor because of the sale of Exista’s shares in Bakkavor Group on September 11, 2009. Brothers Agust and Lydur Gudmundsson financed their own 8,4 billion ISK purchase of 39,2% in Bakkavor through Exista which is mostly [...]

The Word On The Street column at Eyjan.is claims to have information about the new name of the bank that was created from the ruins of Kaupthing and has been calling itself New Kaupthing for the last months. Say hello to “Nordis”!