Iceland sentences 26 bankers to a combined 74 years in prison

Iceland is putting bank CEOs where they belong.

Unlike the Department of Justice, Iceland is focusing on prosecuting the CEOs rather than low-level traders.


In a move that would make many capitalists’ head explode if it ever happened here, Iceland just sentenced their 26^th banker to prison for their part in the 2008 financial collapse.

In two separate Icelandic Supreme Court and Reykjavik District Court rulings, five top bankers from Landsbankinn and Kaupping — the two largest banks in the country — were found guilty of market manipulation, embezzlement, and breach of fiduciary duties. Most of those convicted have been sentenced to prison for two to five years. The maximum penalty for financial crimes in Iceland is six years, although their Supreme Court is currently hearing arguments to consider expanding sentences beyond the six year maximum.

After the crash in 2008, while congress was giving American banks a $700 billion TARP bailout courtesy of taxpayers, Iceland decided to go in a different direction and enabled their government with financial supervisory authority to take control of the banks as the chaos resulting from the crash unraveled.

Back in 2001, Iceland deregulated their financial sector, following in the path of former President Bill Clinton. In less than a decade, Iceland was bogged down in so much foreign debt they couldn’t refinance it before the system crashed.

Almost eight years later, the government of Iceland is still prosecuting and jailing those responsible for the market manipulation that crippled their economy. Even now, Iceland is still paying back loans to the IMF and other countries which were needed just to keep the country operating.
When Iceland’s President, Olafur Ragnar Grimmson was asked how the country managed to recover from the global financial disaster, he famously replied,

“We were wise enough not to follow the traditional prevailing orthodoxies of the Western financial world in the last 30 years. We introduced currency controls, we let the banks fail, we provided support for the poor, and we didn’t introduce austerity measures like you’re seeing in Europe.”

Meanwhile, in America, not one single banking executive has been charged with a crime related to the 2008 crash and U.S. banks are raking in more than $160 billion in annual profits with little to no regulation in place to avoid another financial catastrophe.

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By James Woods via U.S. Uncut 


James Woods ( AKA – JamesFromTheInternet) is an independent journalist based in New York City who can be reached on twitter @JamesFTInternet or via email: jamesftinternet@gmail.com

Canada Keeps Arresting Pro-Refugee Campaigners (While Detaining More Refugees Than Ever)

Wearing a T-shirt showing solidarity with Syrian refugees can get you in trouble under Stephen Harper's government, whose record for indefinitely detaining migrants is terrifyingly inhumane.

On September 3rd, just one day after the tragic image of little Aylan went viral around the world, activist Sean Devlin was arrested at Canadian Prime Minister Stephen Harper’s election campaign event in British Colombia. He was wearing a shirt that said ‘Aylan should be here’, in reference to the drowned Syrian toddler who sparked a fierce debate about the immigration policies of developed countries.

Canada has seen a 30% decrease in refugee acceptances since 2006 under Stephen Harper’s government. “They’re spending tax dollars on second homes for Senators while telling families fleeing war that we can’t afford to welcome them”, Devlin said after being released. “These policies are inhumane and directly force families into life threatening situations.”

Sean Devlin was part of a team that helped produce videos for NeverHome.ca – a new multimedia project that sheds light on the drastically changed landscape for immigrants under the Harper government. He is also associated with Canadian movement ‘Shit Harper Did’ or SHD, which aims to outline the huge number of social and environmental abuses by the Canadian President.

On the 14th of this month, another protester called Lucy Burgess was thrown out of a campaign event for the same ‘crime’: wearing a T-shirt in support of refugee rights.

The Canadian government jailed 87,317 migrants between 2006 and 2014. These shocking statistics include up to 807 children per year. Migrants are the only population in Canada who can be jailed on administrative grounds without ever being charged with a specific criminal offense. Many migrants face indefinite detention, with no trial and no charges, and some migrants now face mandatory detention. In 2013 alone, migrant detainees spent a collective total of 503 years behind bars.

In 2014, the United Nations’ High Commissioner for Human Rights’ Working Group on Arbitrary Detention strongly chastised the Canadian immigration detention system. The University of Toronto’s International Human Rights Program released a study in 2015 finding that Canada’s rising detention of non-criminal foreigners in maximum-security prisons amounts to arbitrary, cruel and inhumane treatment that violates international obligations.

Immigration detention is one of the fastest growing forms of incarceration in Canada. Over the past 10 years, the government has detained an average of 11,000 migrants per year, including up to 807 children detained each year. In some cases, young Canadian children such as Alpha Anawa have been born in Canada Border Services Agency custody, spending their entire lives behind bars.

Learn more by watching the shocking video, and please consider sharing this article if you feel strongly about it. Those of you in Canada can join in the month of actions in support of refugee rights by clicking here.

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UK Petition Demanding the Arrest of Netanyahu Goes Viral

In just a few days, a petition to arrest Israeli Prime Minister Benjamin Netanyahu has gone viral.

The petition is entitled “Benjamin Netanyahu to be arrested for war crimes when he arrives in London” is available HERE


The petition has been inspired because of the incessant murder of Palestinian civilians who, despite being branded as being the aggressors, have no navy, no army and remain under constant blockade. The argument that they are using human shields has also been debunked and Amnesty International published a report last year that revealed "strong evidence" of Israeli war crimes.

The petition reads as follows;

“Benjamin Netanyahu is to hold talks in London this September. Under international law, he should be arrested for war crimes upon arrival in the UK for the massacre of over 2,000 civilians in 2014,” the petition reads.

As of now (08/13/2015) the petition has just under 49,000 signatures. According to the website, which is owned by the British government, at 10,000 signatures, which has already been met, they will respond to the petition and at 100,000 signatures, this petition will be considered for debate in Parliament. So be sure to add your vote against this war criminal. 
 
Again, the petition can be found HERE

The question of what is taking place in Israel/Palestine is one of the most heavily debated in history and, being as such, I recommend watching this video from former Israeli soldier Miko Peled, who was born in Jersusalem into a famous and influential Israeli family. His father was also a famous General in the Israeli Army and his testimony should be watched by all;
 

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