Saturday, May 2, 2009

Financial Civil War in Iceland ?

The public in Iceland is now organizing a group effort to stop paying their loans to the Banks in Iceland.
About 20.000 thousand individuals have signed up to a group - that is called - Hagsmunasamtok heimilanna ( homes interest group )
The foreign loans people took in good faith, are now skyrocketting,so people that invested with foreing loans a house ,worth 25 million kronas - is now the house is worth 22 million kronas,but the loans are in the 30 millions or more.
People are angry at the banks .
Many have stopped paying of their loans,and many more are going to stop paying.
One member called this a financial civil war !

Many former Bank employes ,who bought stock in the Banks ,and got loans for from their bank,they made private companys around their investment ,so they dont have to pay.
One of the employes of Kaupthing Bank ,is the husband of the former Educational minister ,Thorgerdur Katrin Gunnarsdottir.
People feel that the banks have stolen their money.
And still nobody is being investigated about the crisis.

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