Wednesday, July 8, 2009

Strange loans in Iceland

Still,there are information coming here in Iceland.
Employees at the top at Kaupthing Bank,got special loans ,to buy stock in the bank.
And the Kaupthing board of directors,decided ,that they would not have to pay fot the loan they got.
One of the employees ,was Kristjan Arason,husband to the vice chairman of the Independence party.
She ,Thorgerdur Katrin Gunnarsdottir ,was last year ,the education minister in the ICelandic goverment.
Kristjan had a 890 millon krona loan ,a so called " bubble loan " ( kúlulán) .
Wich means that the sequrity on that loan to buy stock,is the stock itself.
23 employees of kaupthing ,got special service from the board of the Bank.
And do not have to pay the loan they got.

Meanwhile public is going bankrupt,and many moving from Iceland.
Many have to go to the family help service,once a week,to get food for their familys.





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