When our banks started to fall the British taxpayer stepped in and bought the banks (this protected customers world-wide). Iceland should have done the same. If it did not have the money then Iceland should not have authorised the bank in the first place.

They are not investments, they are deposits and have to be paid back. I won’t explain the difference again, its been posted on this site several times.

Oh, and a side point you are obviously unaware of, in the UK at least victims of crimes get substantial financial compensation from the government scheme. Rape victims get around £20k, enough in the case of the woman I knew, to persuade her to go through with the court case even though she had no recollection of it and told me she would have had sex with the accused if she was sober.

It allowed the crooks one calls bankers to play all the financial games they wanted without really risking anything, “covered” as they were by the public. That’s not business. That’s not banking. That’s pure parasitism.

And btw it happens everywhere on this planet nowadays.

(Sorry for my english).

Sir Euro

Who could disagree with you that many International Mafioso’s were at the core of the skullduggery that was Icelandic bank? I think for you, or anyone doubting this, may find this well documented article of the privatization of the bank and the Russian and Icelandic financial terrorist take over of same http://icelandtalks.heidi.1984.is/?p=471 very interesting.

Today’s “democratically chosen” governments are farcical at best. A set of pawns of the various elites is presented through their owned media as the only choice a peoples may have. Choice is for the better of two evils and only evil can win. Participation in the fraud (voting process) is fraud itself. I look to a small country like Iceland to take the lead on showing the other fascists (you may see them as democracies in the EU) nations how people could take control of their lives and freedoms. Change it all.

There are no statesmen in politics anymore. A statesman is an ordinary citizen whose education in civic responsibility takes him to serve a term of his life to governance after which he returns to his real job, say a fisherman. Iceland’s government, like all the miserable “democracies,” is nothing more than a cesspit of corruption with professional politicians or trained monkey shiners sucking what they can from the government teat.

You state quite elegantly “GREED is buying luxury cars, big homes, traveling like rich people abroad, and doing that by mostly taking LOANS from banks” which fits the Dutch, English and most EU “citizens” nicely. I cannot speak for what the average Icelander does as I live in the EU and only have that perspective. I will not make assumptions on Iceland but what you describe in your assessment matches what I see here in the EU (mainly UK, Holland, Germany, France and Spain).

It is really basic. The bank was private. It was a scam led by known, convicted scammers. People had access to the names of the board and CEO and it was rife with corrupt people – known criminals actually. It was private; who got it there is another corruption, being private is fact. Private debt made public while preserving the profit of participants is the corner stone of fascism. Like all confidence games, ponzi schemes and the like, people taken in lose. Let the bank fail along with the person who invested, that is what investment is. You can win, you can lose. You don’t allow a government to pay the debts and expect to tax everyone. Those who played should pay, not nations of people.

It was not the workers in the EU who paid all the principal and interest to the greedy investors trying to make a larger percent on their money, it was the bankers themselves – shuffling data bits as money, not earning anything. Creating more fiat currency, another hallmark of fascism. It was not the Icelanders who scammed the greedy Brits and Dutch, it was Sigurjón Þ. Árnason and Halldór J. Kristjánsson, CEOS along with Björgólfur Guðmundsson, Chairman of the Board and their henchmen in and out of government. All living with their wealth safe in offshore banks, far from where they committed their financial terrorism and able to pay for their medical needs without depending on a government to provide it. No one who actually committed the frauds is in jail and none will be going, this is the injustice of it all. There is no pride in making a nation pay for private frauds. Those investors who took part made investments. They went bad, it tastes bad for the losers, but that is why it is an investment and not a savings.

Very sad analogy, which shows the state of education. It is the fault of the murderers, the rapists, and the robbers to face their crimes, not the people of a nation. In this case the bankers and corrupt governments not the people of a nation are responsible. Every crime has its perpetrator, the peoples of Iceland are not the perpetrators and owe nothing to those who participated investing or stealing.

I would see no problem in making all those who are part of the crime responsible including the corrupt governments and individuals that facilitated the crimes – not the nations people. However those that lost money on bad investments lost, tough. Ever see a murderer, rapist or robber reimburse the family for their loss? All you get is “justice.”

Let me summarise.
When a Icelandic Bank, regulated, guaranteed and licensed to take deposits by the Icelandic government steals those British and Dutch deposits, its up to the British and Dutch taxpayers to pay for it?
So on the same principle, its the fault of murder, rape and robbery victims becuase ether were asking for it?

Entering “Europe” as it is today is no solution: see how “Europe” cares about Greece? When in trouble, they let you down.

To people who invested in Iceland banks: you played, and you lost.
What was the interest rates you intended to make with these investments? 10% ? 15% ? When European growth is what? 3, 5% ?
I consider this behaviour as parasitism.
Someone pays in one way or another for you to make this (dirty) money.
And don’t forget: there are bigger parasites than you. They are the bankers and finance people who made money when you lost it. You lost, Icelanders lost, bankers won. They always win because this
system is entirely corrupted.

England and Holland are attacking the wrong (but easiest) target. They can’t attack bankers.

Keep up the good fight icelanders.

There is a huge distinction between bailing out bank debt holders (and to some extent the existing equity interests) by pumping money into banks at favorable terms (the “bank bailouts”), which reasonable people will disagree as to the whys and hows, and returning money to depositors.

As I understand the Icesave situation, we are not talking about “bank bailouts” but about repaying the Brits/Dutch for stepping up to the plate when Iceland’s “Guarantee Fund” failed to pay off depositors.