Comments on: Glitnir investors to sue Iceland for refund

By: Visit.is » Central Bank of Iceland major insurance company owner

Visit.is » Central Bank of Iceland major insurance company owner — Thu, 17 Jun 2010 09:07:14 +0000

[...] Glitnir investors to sue Iceland for refund [...]

By: Jimbo (the original Jim)

Jimbo (the original Jim) — Tue, 24 Nov 2009 01:58:59 +0000

“current Red-Green government of Iceland”

That seems a well-balanced government of all political colours. The 3 primary colours are red, blue and yellow; the latter two make green when mixed.

By: Axel

Axel — Tue, 24 Nov 2009 01:17:03 +0000

When the state took Glitnir over my share in it became worthless, when the gov put Glitir back on the market for a much lower price, it crossed my mind to buy again to try to retrieve the investment i had lost, but thats something a gambler would do, to try to win back what he had lost until he would be ruined, i decided not to buy shares in a freshly crashed bank, despite of the share price rapidly going up every day,
this was not that inportant to me but someone in a more desperate situation could have been tempted to try this,
the gov knew about the finacial situation in Iceland months in advance, thats why a certain Baldur was able to sell his shares before the crash just to point out one recent example,
this was just a play, to try to fool people into believing everything was under control whitch it was not, the people who fell for this where just collateral damage.
,

By: Fisy

Fisy — Mon, 23 Nov 2009 19:46:33 +0000

Terry did write :
>another whinger has appeared on the scene!

A legal argument, based on EU / EFTA laws should be welcomed.

Does not the EU commission want to show that it is fair and that it is a group ruled by law not by arbitrary whim of politicans ?

No doubt it will be introduced when Ice Save does finally find its day in court.

By: Fisy

Fisy — Mon, 23 Nov 2009 19:44:09 +0000

Jim write :
>I suspect it will be all to easy for the defence to demonstrate that the government of the time didn’t have a clue. About anything.

Well, it will be able to demontrate that it thought one thing would happen and then another did.

But I would apply you comment to current Red-Green government of Iceland for sure.

But.. it is healthy to have case like this ( Glitnir one ) go to the courts. That is exactly where this matters should be settled.

I like many Icelander is looking forward to ” Ice Save ” case going to court too. ( Unlike traitors to us Icelandic tax payer and our children in current government .)

By: Øystein;Norway

Øystein;Norway — Mon, 23 Nov 2009 18:52:35 +0000

@Fisy – “…does not have chance of snow ball in hell.”

To bring in som optimism, I found this picture where there are some snow at the station.

http://gfx.dagbladet.no/pub/artikkel/5/53/539/539810/hell_4_1215006080.jpg

By: Terry

Terry — Mon, 23 Nov 2009 18:37:28 +0000

> but this case does not have chance of snow ball in hell.

Don’t know about that Fisy, but just start paying what you owe – another whinger has appeared on the scene!

http://www.icelandreview.com/icelandreview/daily_news/?cat_id=16568&ew_0_a_id=352367

By: Fisy

Fisy — Mon, 23 Nov 2009 17:49:21 +0000

Davið and others believed at time that taking Glitnir would give it the credit rating of the sovereign ( ie Government of Iceland ).

Instead the opposite did happen and the sovereign did instead get closer to the credit rating of Glitnir, and other Icelandic banks too.

I am always sorry to see people lose the money but this case does not have chance of snow ball in hell.

By: Alexander E.

Alexander E. — Mon, 23 Nov 2009 10:58:14 +0000

“The investors defend their decision to invest in Glitnir”….hmmmmm
I guess their best line of defense – to claim that Glitnir and Government poisoned them with some “heavy illusions” drugs :-)

By: Jimbo (the original Jim)

Jimbo (the original Jim) — Mon, 23 Nov 2009 01:43:37 +0000

“the government intimated that its involvement in the bank would save it from collapse”

Actually, the government did nationalise the bank to save it from collapse…