Iceland Sentences 26th Banker

Iceland sentences 26 bankers to a combined 74 years in prison

Iceland sentences 26 bankers to a combined 74 years in prison

Unlike the Department of Justice, Iceland is focusing on prosecuting the CEOs rather than low-level traders.

by James Woods, published on US Uncut, on October 21, 2015

Iceland sentences 26 bankers to a combined 74 years in prison

In a move that would make many capitalists’ head explode if it ever happened here, Iceland just sentenced their 26th banker to prison for their part in the 2008 financial collapse.

In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks in the country — were found guilty of market manipulation, embezzlement, and breach of fiduciary duties. Most of those convicted have been sentenced to prison for two to five years. The maximum penalty for financial crimes in Iceland is six years, although their Supreme Court is currently hearing arguments to consider expanding sentences beyond the six year maximum.

After the crash in 2008, while congress was giving American banks a $700 billion TARP bailout courtesy of taxpayers, Iceland decided to go in a different direction and enabled their government with financial supervisory authority to take control of the banks as the chaos resulting from the crash unraveled.

Back in 2001, Iceland deregulated their financial sector, following in the path of former President Bill Clinton. In less than a decade, Iceland was bogged down in so much foreign debt they couldn’t refinance it before the system crashed.

Almost eight years later, the government of Iceland is still prosecuting and jailing those responsible for the market manipulation that crippled their economy. Even now, Iceland is still paying back loans to the IMF and other countries which were needed just to keep the country operating.

When Iceland’s President, Olafur Ragnar Grimmson was asked how the country managed to recover from the global financial disaster, he famously replied,

“We were wise enough not to follow the traditional prevailing orthodoxies of the Western financial world in the last 30 years. We introduced currency controls, we let the banks fail, we provided support for the poor, and we didn’t introduce austerity measures like you’re seeing in Europe.”

Meanwhile, in America, not one single banking executive has been charged with a crime related to the 2008 crash and U.S. banks are raking in more than $160 billion in annual profits with little to no regulation in place to avoid another financial catastrophe.

American Express President Dead On Plane

American Express President Found Dead On Plane En Route to NYC

The recent string of suspicious banker deaths is no longer constrained entirely to mid level managers, as the President of American Express Ed Gilligan has been found dead on his plane this weekend en route to NYC.

American Express President Ed Gilligan died suddenly this weekend during his flight from Japan to NYC, causing his plane to make an emergency landing. 

DeadAMEXPresAMEX CEO Ken Chenault made the announcement via a letter to AMEX employees:

With the heaviest of hearts, I must share some devastating news. Ed Gilligan – President of our company and friend and inspiration to many inside and outside American Express – became seriously ill on a flight home to New York this morning and has passed away.

This is deeply painful and frankly unimaginable for all of us who had the great fortune to work with Ed, and benefit from his insights, leadership and enthusiasm. Our thoughts and prayers go out to his wife, Lisa, and their four children – Katie, Meaghan, Kevin and Shane. He was a proud husband and father, and his love for his family was evident in all that he did.

Ed also loved American Express. He devoted his entire career to this company, starting as an intern 35 years ago and moving steadily up all the way to Vice Chairman in 2007 and President in 2013. His contributions have left an indelible imprint on practically every area of our business, from Commercial Card and Travel to International, Consumer, Small Business, Merchant Services, Network Services and, most recently, the group forging our digital partnerships and driving payment innovations. Ed was a living embodiment of our values, embracing both our heritage of service, trust and integrity, as well as our entrepreneurial spirit that has helped continually transform this company through the years. For the time being, I have asked Ed’s direct leaders to report to me.

The mark of a true leader is followership, and Ed won the hearts and minds of many thousands. He was a champion of diversity and employee development, and his mentorship has helped create a legacy of strong leaders wherever he went. We mourn his loss, and we will have opportunities to share our memories of him more fully in the coming days. 

Considering Gilligan was 55 and on a 13 hour flight from Japan to NYC it is certainly possible if not likely that the AMEX exec died of natural causes via Deep Vein Thrombosis/ Pulmonary Embolism, but we suspect the alternative media will soon be full of speculation on Gilligan’s untimely demise.

DeadAMEXPres1

Demands for Royal Commission Into Australian Banking Sector

Everyone should have an interest in the future of this companies if the evidence is clear now that Banks were committing grand larceny which affect all citizens in Australia.

The Banking Cartel and their CONTROL FRAUDS have used the property market as the vehicle to pump money into to inflate the value of their own ill-gotten assets.  This means in one generation have currently CUT OFF all young people from buying a home – ever.  The same as has occurred in Greece, next the jobs go, the homes go and then an entire generation of 20 – 28 year olds are homeless and jobless.  No-one realises we did the same things – our banks are driving us down the same path.

THERE HAS TO BE A ROYAL COMMISSION.

An easy way to urgently gain a Royal Commission and have all witnesses brought in for questioning and all documents to be discovered.  It’s the most POWERFUL thing that you will ever do to either save your home OR demand compensation for your loss.

CIRCULATE TO EVERYONE YOU KNOW TO DEMAND Royal Commission into the Four Major Banks and all other lenders

Tour collective BFCSA petition on change.org

https://www.change.org/p/mr-david-murray-chairman-of-the-financial-system-inquiry-recommend-an-urgent-royal-commission-into-australian-banks-the-regulators-and-the-financial-product-sellers#

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