Iceland’s finance minister has announced a 39 per cent tax on investors looking to take their money overseas.
The country has imposed the tax to prevent it hemorrhaging money as it loosens bank laws imposed six years ago, when Iceland made the shocking decision to let its banks go bust.
Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where banks were fined, but chief executives escaped punishment.
The chief executive, chairman, Luxembourg ceo and second largest shareholder of Kaupthing, an Icelandic bank that collapsed, were sentenced in February to between four and five years in prison for market manipulation.
“Why should we have a part of our society that is not being policed or without responsibility?” said special prosecutor Olafur Hauksson at the time. “It is dangerous that someone is too big to investigate – it gives a sense there is a safe haven.”
Talking Points Memo editor Josh Marshall noticed something interesting recently: he’s been getting a lot of pro-Bernie Sanders emails from the Democratic National Committee despite the organization’s neoliberal leanings and commitment to Hillary Clinton’s presidential campaign. Here’s an example of a DNC email, pretty much indistinguishable from an email one might get from Sanders’ actual campaign.
Although Marshall’s analysis is generally partisan, he briefly dips into a deeper critique here when he writes, “If you want to be arch about it there’s a bit of this that reminds me of how things operate in one-party states where there are usually a few official opposition candidates who are harmless and make nominal runs and everyone gets along and goes along…think there’s some element of that – Hillary does kind of need and want the Sanders candidacy.”
STEPHANOPOULOS: So if you lose in this nomination fight, will you support the Democratic nominee?
SANDERS: Yes. I have in the past.
STEPHANOPOULOS: Not going to run as an independent?
SANDERS: No, absolutely not. I’ve been very clear about that…