Is the Special Investigation Commission doing it's job?

The Icelandic Parliament started the Special Investigation Commission (SIC) after much public pressure after the economic collapse of the Icelandic financial system.

The committee has been said to be a white wash for the politicians that are to blame, and their friends, but now it is believed that everything will be published. According to the media and to our own legal experts the whole truth will be published.

The hard part is that the statute of limitations for government ministers is only 3 years. So the main culprits that are to blame for the whole mess, according to both sources and common sense in fact are Davíð Oddsson (Independence party) the former PM and former manager of the Central Bank of Iceland (he appointed himself after retiring from being PM) and Hallór Ásgrímsson his right hand man from the Progressive party and his minister for foreign affairs and then his successor as PM.  Others are there too but those two are the ones who lead the nation into this pit it’s in now.

They are immune from prosecution and will therefor bare no official blame or have to take any responsibility for their actions. Their actions range from mismanagement, neglect, incompetence to corruption, stupidity to outright criminal up to treason. But as in such states where the parliament sets its own rules, its own wages, its own retirement salary, its own punishments, it is simply a normal thing that they made sure that they have no responsibility too.

The SIC has interrogated over 140 people, among them bankers and politicians. The bankers will not be blamed in this report because it is made to find out the role and mistakes of public servants such as members of parliament and ministers to ministry officials and government institution officials.

The SIC has been criticised for its choice of sources by lawyers for example. The committee chairman denies this and claims that sources have been used from various places and in most cases stone cold facts are more reliable than a witness testimony.SIC

All the above should be reassuring. But….Iceland Talks knows for a fact that the SIC has refused to look at extremely valuable and crucial financial data from experts in the financial sector. Those experts were shocked to learn that the SIC was refusing the date because of bank secrecy, after having given the go ahead for those data to be obtained in the first place.

The communications between those parties are almost comical and raise serious questions about the will and purpose of the committee. The committee chairman said himself that no bank secrecy or any sort of classified information would hinder them. They had the legal rights to overrule all such things and use all the information they wanted.

According to Iceland Talks sources, the nature of the data in question is such that it is almost beyond belief that it was refused by the SIC. Experts in the field of finance and law are very surprised by this.


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