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Icelandís ex-PM Geir Haarde tell court he is innocent as historic financial crisis trial opens
AP/Washington Post ^ | 3/5/12

Posted on 03/05/2012 9:46:27 AM PST by Kartographer

A former prime minister of Iceland on Monday rejected charges he failed to adequately protect his country’s economy from financial shocks, as he took the stand in the first criminal trial of a world leader to result from the 2008 financial crisis.

Geir Haarde said neither he nor financial regulators knew the real state of Icelandic banks’ precarious finances until they collapsed in October 2008.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Government
KEYWORDS: financialcollapse; iceland
We need such trials here, but I don't see it happening.
1 posted on 03/05/2012 9:46:36 AM PST by Kartographer
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To: Kartographer

“Geir Haarde said neither he nor financial regulators knew the real state of Icelandic banks’ precarious finances until they collapsed in October 2008.”

So... it’s all George Bush’s fault?


2 posted on 03/05/2012 9:53:05 AM PST by UCANSEE2 (Lame and ill-informed post)
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To: Kartographer

Haarde is being prosecuted for not bailing out the banks - for refusing to socialize losses.

He should be given a medal.


3 posted on 03/05/2012 9:53:37 AM PST by agere_contra ("Debt is the foundation of destruction" : Sarah Palin.)
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