Investigation
Robert F. Kennedy Junior Calls for an Investigation
We are all waiting for a vaccine, – but are they safe?
Gross negligence
Is Negligence a Subjective Evaluation?
“The accused is in this matter convicted for having with gross negligence failed to hold cabinet meetings on important administrative matters as prescribed in Article 17 of the Constitution, although he must have been clear of the danger, which loomed over the banking system and thus to state security, as specified above, with the consequence that those issues were not discussed at cabinet level”
“The conduct of the accused to fail to comply to the instructions of Article 17. in the Constitution to hold cabinet meetings on crucial policy issues, described above, was not only a breach of form, but it contributed to, that, on ministerial level no political strategy was adopted to deal with the complex problems that the accused had to be aware of in February, 2008. If such a policy had been formulated, and it followed in an orderly manner, including the Central Bank and Financial Supervisory Authority, it can be argued that it was feasible to reduce the damage left by the fall of the banks in October 2008. Furthermore, it is likely that the government had then been better prepared to evaluate the request from Glitnir bank for financial suport at the end of September 2008 such as to enable resolution to the problems of that bank in a more judicious manner than was the case. ”
“Accused, Geir Hilmar Haarde, is not rendered punishment in this case.”
National Court Judgment (IS – pdf)
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The benefits from disconnecting the government (Win-win). In early 2008 insiders had ample opportunity to run with their money. No formal input was from other ministers (finance, banking etc), – thus other ministers “escaped” responsibility.
There is still no word on the reserve that went missing.
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The Billion Dollar Gram (figures can be hard, 140 Northern Rock’s ?)
With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful
Much needed:
Full Fact
FactCheck.org
Straight Statistics
Trial before the High Court of Impeachment
d.1
Geir Hilmar Haarde Prime Minister (15 June 2006 – 1 February 2009)
The witness list:
d.2
Björgvin G. Sigurðsson, Ex Minister of Business Affairs
Arnór Sighvatsson, Deputy Governor of the Central Bank
Davíð Oddsson, Ex Governor of the Central Bank
d.3
Ingimundur Friðriksson, Ex Governor of the Central Bank
Baldur Guðlaugsson, Ex Permanent Secretary, Ministry of Finance*
Bolli Þór Bollason, Ex Permanent Secretary, Prime Minister’s Office
Áslaug Árnadóttir, Ex Permanent Secretary, Ministry of Business Affairs
Jón Sigurðsson, Ex Board of Directors, Financial Supervisory Authority (FME)
Jón Þ. Sigurgeirsson, Director of International Department, Central Bank
d.4
Jón Þór Sturluson, Ex Assistant to the Minister of Business Affairs
Jónas Fr. Jónsson, Ex CEO of the Financial Supervisory Authority (FME)
Hreiðar Már Sigurðsson, Ex CEO of Kaupthing Bank
Guðjón Rúnarsson, Managing Director Icelandic Financial Services Association
Rúnar Guðmundsson, Head of Insurance Market FME
Þorsteinn Már Baldvinsson, Ex Chairman of the Board of Glitnir Bank
Jónína S. Lárusdóttir, Ex Permanent Secretary, Ministry of Business Affairs
d.5
Sigurdur Sturla Pálsson, Director of the International and Market Operations Department of the Central Bank
Tryggvi Þór Herbertsson, Ex Economic Advisor to the Prime Minister (and coauthor with Mishkin)
Sigurdur Sturla Pálsson, Director of the International and Market Operations Department of the Central Bank
Tryggvi Þór Herbertsson Ex Economic Advisor to the Prime Minister (and coauthor with Mishkin)
Vilhelm Már Þorsteinsson, Ex Head of Corporate Banking Glitnir Bank
Heimir Haraldsson, Resolution Committee of Glitnir Bank
Jóhannes Rúnar Jóhannsson, Resolution Committee of Kaupþing Bank.
Jón Guðni Ómarsson, Ex Chief Financial Officer Glitnir Bank
Kristján Óskarsson, Resolution Committee of Glitnir Bank
Lárentsínus Kristjánsson, Resolution Committee of Landsbanki Bank
Vignir Rafn Gíslason, Certified Accountant Price Waterhouse Coopers
Kristján Andri Stefánsson, Ex head of department, Prime Minister’s Office
Sylvía Kristín Ólafsdóttir, Ex head of contingency planning, Central Bank
Ossur Skarphedinsson, Ex Minister of Industry
Johanna Sigurdardottir, Ex Minister of Social Affairs
d.6
Ingibjörg Sólrún Gísladóttir, Ex Minister of Foreign Affairs
Sigurður Einarsson, Ex Chairman of the board, Kaupthing Bank
Lárus Welding, Ex CEO Glitnir Bank
Stefán Svavarsson, Chief accountant Central Bank (CBI) and member of the board, Financial Supervisory Authority (FME)
Halldór J. Kristánsson, Ex CEO Landsbanki Bank
Sigurjón Þ. Árnason, Ex CEO Landsbanki Bank
Björgólfur Guðmundsson,. Ex chairman of the board, Landsbanki Bank
d.7
Tryggvi Palsson, Ex head of financial stability, Central Bank (CBI)
Jon Thorsteinn Oddleifsson, Ex head of treasury, Landsbanki Bank
Steingrimur Sigfusson, member of Althing
Arni M Mathiesen, Ex Minister of Finance
Geir Hilmar Haarde Ex Prime Minister
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The Special Investigation Commission members and the related Parliamentary Committee members were struck from the witness list at a days notice?
* The Ex Permanent Secretary in the Ministry of Finance has now started his 2 year jail sentence for insider trading and misconduct in public office.
It will be interesting to see if the court comes to the same conclution as did The Financial Crisis Inquiry Commission in the US — that this crisis was avoidable — the result of human actions, inactions, and misjudgments. Warnings were ignored. “The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done. If we accept this notion, it will happen again.”
d.1, a pitiful picture is emerging of a Commanding Officer lacking in leadership, initiative, command, and imagination. As an Office Manager he is fine, – as a Commander he is everything but.
d.2, state officials are in unison that they lost control to a Hydra-Headed Monster no human could be expected to contest. Not that they didn’t try.
d.3, nothing could be done after 2005 – 3 whole years of did not, could not. Learned helplessness is a technical term which comes to mind.
(From the Blogosphere – Whats similar between the National Theater and the Culture House? Sure – They’ve both been showing Les Misérables)
d.4, entirely absent in this amiable family gathering are penetrating questions, such as what happened to the entire foreign-exchange reserve in the minutes before the crash?
d.5, silent lambs, pack of wolves, and the Court clerk a sleep.
d.6, did everything right, nothing wrong. Conflicting testimony? Guardians of special-, banking-, and/or public interest? – Take your pick.
d.7, the grand finale, – shit happens – multiplied by 140 Northern Rock’s. In the Culture House the twin masks of the National Theater were replaced by The Mask of Sanity.
d.8, State prosecutor: Numerous warning signs and a mounting threat to the state, but did everything at the precedence of the banks.
d.9, Defense: All points in the prosecution evidence are deficient. The responsibility was with the Central bank.
What causes suspension of judgment on a mass scale? Religious myths? Economic cults?
It is unproven, that the priesthood of this particular sect did anything but appease their god. Most of them are still true believers. They have not found that their view of the world, their beloved ideology, was not right. That it was and is not working. Now they are eager to repeat it – only better, truer – convinced of a better outcome.
In their weakness our best and the brightest committed an heinous crime, they reminded us of who, what, and how we are, of our own perpetual escape from freedom.
I did not know, I could not do, it’s their fault
????This Time Is Different: Eight Centuries of Financial Folly
ICB’s Recommendations
And elsewhere in the state of Nordic welfare?
Transparent governance is a joke.
Debt depreciation is shrouded in bank secrecy.
Parliamentarians are about to stop impeachment proceedings against them self’s*
Parliament is unable to debate the new constitution.
The Indians eagerly await to sell Manhattan.
The “factory” Social Democrats want more aluminum smelters.
The banks drag their feet after a clear Supreme Court ruling.
Discrediting financial regulator(s) is legion.
.The Echo chamber: it’s not the Crime, – it’s the Crime buster, – or is it one and the other?
We are still in the grips of a small clique of insiders.
The failed state of Iceland
Iceland’s campaigning regulator faces dismissal
* Pity the poor prophet – Voting Records
Is the Power of Corruption Infinite?
Is parliament about to top its previous and incredible achievement.
Will the majority, vote to stop the investigation of the national bankruptcy of Iceland, by interfering in the proceedings of the impeachment court, – with the removal of the special prosecutors office to follow?
It is said that parliamentarians connected to the murky waters of the previous administration have been blackmailed and threatened with exposure.
It is also said that, members of parliament who through the years have advocated transparent governance and claimed to be champions for the “public interest”, are about to reveal their true nature.
Language, it’s use and it’s control, is said to reflect the reality of a nation. There are no words in Icelandic for competence and accountability.
Sample contributions from the fallen banks: (Voting Record: r = +1.0)
| Þorgerður Katrín Gunnarsdóttir * | Kaupþing 1.500.000 Landsbanki 1.500.000 = 3.000.000. |
| Guðlaugur Þór Þórðarson * | Kaupþing 1.000.000 Landsbanki 1.500.000 = 2.500.000. |
| Kristján Möller * | Kaupþing 1.000.000 Landsbanki 500.000 = 1.500.000. |
| Össur Skarphéðinsson * | Landsbanki 1.500.000 = 1.500.000. |
| Ásta Ragnheiður Jóhannesdóttir | Kaupþing 250.000 Landsbanki 300.000 = 550.000. |
| Ragnheiður Elín Árnadóttir | Kaupþing 250.000 Landsbanki 300.000 = 550.000. |
| Árni Páll Árnason | Landsbanki 300.000 = 300.000. |
* On the witness list (govt minister)
The SIC Report (8.11.2) stopped at overall debt position of more than 100 million, so these figures (p. 165 – 167) are peanuts, what’s interesting is the correlation.
Shields-up for the Political Class (28 Sept.2010)
Representatives and why we care
Conversations with History: Glenn Greenwald
How the Law Is Used to Destroy Equality and Protect the Powerful
The Quiet Coup
Insestious relationship
The Many Faces of Corruption
Power Elites & Corruption
Pandora’s box
Voting Record (1) (29/31)
Money in Politics Handbook
The Business of Perception Management
Politics and the English Language
Framing: Values before Issues. & Twelve Traps to Avoid.
Game theory (Political science)
Are you sure you want to move these 63 items to the Recycle Bin?
Insestious relationship
If Stieg Larsson had given Lisbeth Salander this picture and the name “Eimreiðarhópurinn” (The Locomotive Group) the result would have matched or surpassed the Millennium trilogy. However the closest we have come to Mikael Blomkvist (so far) is Johann Hauksson and his Threads Of Power: Nepotism, abused positions and Iceland’s collapse.
In his book, Johann looks at the web of power and corruption, the far reaching and disastrous outcome, and the habitual inability to face this daemon, – thus it continues*.
In a “micro” nation, where close-up and personal has profound consequences socially, politically, and economicall, – his courage is commendable.
* Petit échantillon: Large part of the electorate take pleasure in electing convicted villain/parliamentarian, conveniently pardoned by the Prime Minister, the President of Parliament and the President of the Supreme Court. And now parliament is in a frenzy to withdraw its narrow margin referral of the former Prime Minister to the Court of Impeachment, thus saving him from the clutches of his close friends. – It fills my heart with pride.
Transparency Is The Answer
The Declaration of Paris: A Call for Action Against Large Scale Corruption
GRECO
The Gift (When discredited economics are of dubious use, sociology and anthropology must suffice)
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Rationality and Power: Democracy in Practice
Shadow Elite: How the World’s New Power Brokers Undermine Democracy, Government, and the Free Market
Ship of Fools: How Stupidity and Corruption Killed the Celtic Tiger
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Den nya överklassen. En bok om Sveriges nya ekonomiska elit
Public-private partnership (PPP)
Power: A Radical View
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Justice under seege
* Power Elites & Corruption
The Best Way to Rob a Bank Is to Own One
Excerpts from the report of the Special Investigation Commission (SIC)
The Baloney Detection Kit
10 Questions:
1. How reliable is the source of the claim?
2. Does the source make similar claims?
3. Have the claims been verified by somebody else?
4. Does this fit with the way the world works?
5. Has anyone tried to disprove the claim?
6. Where does the preponderance of evidence point?
7. Is the claimant playing by the rules of science?
8. Is the claimant providing positive evidence?
9. Does the new theory account for as many phenomena as the old theory?
10. Are personal beliefs driving the claim?
Skeptic (Devaluation works both ways)
The Lost Science of Money
Bankers, Economists and Politicians much prefer “I’m above it”
Overdosing on Silence
In Manufacturing Consent (1988), Herman & Chomsky, presented the “Propaganda model” and it’s components: Agenda Setting by Predetermine, Select, Shape, Control and Restrict by: Selection of Topics, Distribution of Concerns, Emphasis, Framing of Issues, Filtering of Information and Bounding of Debate.
From September 2008 we have seen these unfold before our very eyes, but also a strong sense of inverse relationship between importance and relevance, claimed- and actual responsibility, crime and punishment.
What is almost entirely missing is the ‘Technical’ Bankruptcy of the Central Bank (CBI), easily the biggest, most costly and singular, with its political ramifications right at the top of the political sphere.
The SIC report, 21.4.3 The CBI, talks about ‘communication problems’ and, that, “it cannot be considered desirable to appoint former politicians as CBI Governors, as has been the practice at the CBI for many years.” (?)
The Special Prosecutor needs 3 – 4 years to investigate the banks, while the Central Bank gets Zero?
Who needs Aircraft Accident Investigations when the Banks are to big to fail, just like RMS Titanic.
The SIC Report
Propaganda model
The History Of Central Banks (US)
Bank Failures US (2008–present)
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Webster Tarpley (2009)
[PDF] The Rape of the Mind
The Creative Evolution of Stupidity
In the early days of the meltdown we were told to be green with envy at Ireland, they had shelter in the EU and the Euro. To day curiously enough Ireland is nowhere to be found, nor any meaningful discussion of the EU-Euro “shelter” for the other PIGS.
However, we get informed ad nauseum that our own currency is more than useless, and that we will never get anywhere with it.
That the nation state is totally outdated and super Germany is the future in the new world order.
And that nationalism is one of our most ugly trades.
In short, hand over your independence.
Office workers from the Eu (elected by no one) tell us that it does not matter where the money the Banksters owe to Europe comes from, it has to be payed. Transmuting two party agreement failures onto a third party bystander is an swell legal trickery, probably invented by Rothschild who didn’t care who wrote the law, as long as he could issue the money.
The Four Horsemen
The Lost Science of Money
The Pain Caucus
Rigged Markets
Will ~ EU Central Bankers Destroy Democracy?
Impeached PM launches PR Circus
* I’m innocent of all charges.
* All the judges are disqualified
* This abomination is a grave danger to the rule of law.
* I will take my case to the European Court of Human Rights.
* Political witch hunt by lefties.
* Heavy on me and my family.
Nothing Original or New just tried and tested PR drivel.
It is miraculous how innocent the marriage partners of politics and banking are in a country which experienced a total meltdown. Not a single politician or banker bears any responsibility. – It was all some unspecified alien force.
It is becoming increasingly clear, that no one belonging to the political class will face any consequence for their actions. The people will pay as usual, having no PR Firm to fend for them.
The SIC Report
Saksóknari Alþingis (Parliaments Prosecutor)
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Shields-up for the Political Class
Inside Job
PR Watch
Perception management
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What’s Wrong With the News?
Not for political elites
The Front Fell Off
How does the financial system work
A Systems Analysis Perspective
Icelandic Economic Collapse
A Systems Analysis Perspective on financial, social and world system links
“We live in a time with ever increasing complexity in society and this is reflected in our lives becoming more complex and less easy to understand. Globalization has meant that events andcausal chains span larger distances, structures are less transparent and the way the world worksis becoming more difficult to understand. The Icelandic bank crisis, the co-occurring national financial collapse and world financial crisis was part of a larger set of linked events that are difficult to overview and penetrate.”
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“The Icelandic economic collapse was real and very serious for a small country. Only by silent intervention of its Nordic neighbours were certain basic functions of supplying the country with essentials maintained. Without this, the situation for the Icelandic population would have been noticeably bad or even dangerous”
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“After the financial collapse of the banks and later the state, the financial transactions and transfers were mapped out in detail in a Parliamentary Special Investigative Report (2010), including who was involved and their actions described as far as possible. However, these results are all outputs from an economic system where decisions were made somewhere else in the larger societal system. To come closer to the question of how and why the economic bubble could go so far, we also need to address the social dimension of the collapse.”
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“One issue stands out clear from the global financial crisis, and that is that the there is no way back, the old system was flawed on a fundamental level, and the international financial and policy context is still very unsustainable. The whole world´s economic system, which is based on material resource consumption forever, has reached a limit we knew would be there somewhere in time, and which will eventually stop it (Meadows et al. 1972, 1992, 2005, Latouche 2007,Jackson 2009). Growth economics on a limited planet is unrealistic.”
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Icelandic Economic Collapse
A Systems Analysis Perspective on financial,
social and world system links (.pdf)
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System dynamics
Causal loop diagram
“Anyone who believes that exponential growth can go on for ever in a finite
world is either a madman or an economist” ~ Kenneth Boulding
Al Bartlett: In Growth We Trust (the simple math 1 to 8 ) and
The Essential Exponential!
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Related ?
The Four Horsemen
“The prostitution of the economics profession” [1].[2]
“not much to do with what the Constitution calls for.” [1].[2]
In the Valley of Elah