“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 [...]

After accepting over 70 million ISK in the last campaign year from Landsbankinn and the controlling owners of Glitnir (FL Group) when it was considered normal to accept donations of 300.000-500.000 ISK, how on earth was the government of the Independence Party and Social Democrats supposed to rein in the banks on the way to [...]

Trustworthy?   Right now the nation is waiting on the most useless information ever from the Progressive Party. Who were their largest donors in the last few years? Even though the party will open up its books, the sensitive info will be nowhere to be seen.

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 [...]

The father/son team of Bjorgolfur Gudmundsson and Bjorgolfur Thor are personally responsible for a 5 billion ISK loan from Kaupthing. The loan was granted by Bunadarbankinn (later Kaupthing) to buy Landsbankinn from the state during the privatization in 2003. Vb.is reported on the loan which was originally 11 billion ISK and it is said to [...]

The biggest story this week was the relevation that the Independence Party accepted two enormous donations from FL Group and Landsbankinn in 2006. At the same time, Geir Haarde was behind a bill in parliament that would limit individual donations to political parties to 300.000 ISK. The FL Group donation of 30 million ISK was [...]

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 [...]

I am relaunching the site and hope you will bear with me for a couple of days while I get my head around this. The reason is that I want to be able to distinguish between my own writing and that of others, incorporate video and photos in a better way. I spent last week [...]

Spegillinn, a radio show on the state channel reported last night that a business owned and registered by Landsbankinn had been dissolved in November. The business called Nerée, formed in Luxembourg by a business owned by Landsbankinn in Sweden and worth 145 million EUROS was shut down by a French lawyer who acted with the [...]