Iceland jails Bank CEO 12 years

It's 12 months, not 12 years and he's only going to be in jail for 3 months of it... not exactly a deterrent.
 
col0016 said:
It's 12 months, not 12 years

my bad; its just interesting that somewhere breaking these financial laws is still punishable by jail and elsewhere its a fine thats 1/1000 of the profit made from that crime
 
col0016 said:
3 months jail for destroying the country's economy... I wonder how much you get for selling drugs.

Don't knock it. That's an Empire funding operation!


http://en.wikipedia.org/wiki/Illegal_drug_trade

One of the big questions asked by nave media talking heads is: Where does all of this heroin come from? The answer is the same as it was a decade ago following a Central Intelligence Agency (CIA)-led invasion of Afghanistan: 75%-80% of the world's heroin is exported from Afghanistan. In spite of the fact that the U.S. military controls a great deal of that mountainous country, production levels hit record highs last year.

Since American forces have been entrenched in Afghanistan for a dozen years and have squandered over $700B to date, AMERICAN FREE PRESS has long been one of the few publications to openly address a highly taboo subject. Namely, elements within the CIA having been heavily involved with illegal narcotics trafficking since the Vietnam War in the 1960s and 1970s and Iran-Contra in the 1980s.

On March 13, this reporter contacted investigative historian Robert Morrow, whose research into the murder of CIA-sanctioned pilot Barry Seal is unparalleled. Seal claims to have run drugs for U.S. intelligence.

When asked about official criminality associated with Afghan's opium business, Morrow replied: "U.S. government involvement in the drug trade ebbs and flows depending on a particular administration's level of corruption. If a Bush or Clinton is in office, you better believe it's rip-roaring."
http://americanfreepress.net/?p=16169
 
Incidentally, if you search the net, you'll find reference to the following anecdote (from recall so pardon my errors, but the essence is there)

A US government agency forced Wachovia Bank to turn over about 600 million of Drug Cartel money after it was found laundering for the South American Cartels. As a result of that 'betrayal', the other cartels withdrew all their laundered funds from Wachovia, forcing it to collapse. That collapse had a major impact on Lehman Brothers who held a large amount of Wachovia debt.

So the GFC could arguably be said to be caused by the withdrawal of proceeds from the illegal drug trade.
 
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