Kaupthing to be investigated by the UK Serious Fraud Office?

The Daily Telegraph is at it again, Rowena Mason is writing good articles about the Icelandic financial mess.

Here are a few links to the Daily Telegraph:

SFO intensifies Icelandic banking inquiry after Kaupthing leak (5th August 2009)

Kaupthing leak exposes loans (4th August 2009)

Iceland banking inquiry finds murky geysers run deep (13th April 2009)

The top article is very interesting because it could indicate that the British authorities would actually arrest the business men who are responsible for this before the Icelandic government. It would be shameful for Iceland if the British government would beat the Icelandic government in arresting those men. sfo

The Icelandic government has been massively criticised at home:

No assets have been frozen.

No assets obtained to prevent their destruction

No arrests of any kind.

Some raids on houses and companies have been made but most of them when a solid case has been built. The accusation alone or suspicion in these extraordinary times should warrant massive raids and the freezing of assets.

Things should have happened the way Bernard Madoff was caught, he was arrested the day after. Here have been 9 months and hardly anything has been done.

In Iceland it massive fraud on all levels, systematic drainage of money from companies, pension funds, insurance funds and from peoples savings. International accusations about money laundering and Russian mafia ties. The Icelandic financial system was not run by business men, but instead it was soaked in corruption and in fact run by hardcore financial terrorists. Some of them started out as business men but they turned into self serving money vacuum cleaners who drained Iceland.

Where are the international arrest warrants on those responsible. It is all to little and to late.

One has to wander why things where not set in motion when it all crashed around us, and the only sensible answer is the worst one. The politicians and the ruling elite did not want anything to happen to save their own skin for some reason, financial, political or even just to avoid loosing face and admitting failure.

New government reports about the result of this are all talking about the Brain Drain I have written about before on this site. The effects of this will put people in massive debts and put Iceland back decades in terms of well being and poverty.

One wanders if the EU regulations-, the purpose of the British and Dutch governments, and in fact the aim of the International Monetary Fund is to cripple Iceland, to make the public pay for the actions of Icelandic and international criminals by crippling a nation for decades?

Could that be the real issue? To punish the regular citizen of Iceland for the actions of a few individuals?

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