Iceland Jails Bankers, Erases Citizens’ Debt, Recovers Strongly an
economic miracle
By jailing four top officers of Iceland’s failed Kaupthing Bank, the
country showed the world the right way to deal with the people largely
responsible for the 2008 financial crisis, said Charlie McGrath,
founder of news website, Wide Awake News.

The US and other nations must take it as a model for the next time the
too-big- to-fail corporations screw things up and ask for a bailout
with taxpayers’ money, he added.

RT: The jail terms are the biggest penalty for such crimes in
Iceland’s history. What is the significance of the precedent?

Charlie McGrath: It’s significant in regards to the 2008 crisis, if
you happen to be living here in the United States, where the majority
of these too-big-to-fail institutions are headquartered, where the
true corporates are, where the CEOs and COOs of these massive
corporations live. Not one of them went to jail. Not one of them has
been indicted. There’s been a handful of token fines, that had been
paid by these corporations — and let me reiterate ‘by the
corporations’, not by these individuals themselves.

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