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Bringing Down the Banking System

Lessons from Iceland

  • Authors
  • Gudrun Johnsen

Table of contents

  1. Front Matter
    Pages i-xxii
  2. From Prosperity to Panic

    1. Front Matter
      Pages 1-1
    2. Gudrun Johnsen
      Pages 3-11
    3. Gudrun Johnsen
      Pages 13-18
    4. Gudrun Johnsen
      Pages 19-46
    5. Gudrun Johnsen
      Pages 47-56
  3. How Did the Bankers Do It?

    1. Front Matter
      Pages 57-57
    2. Gudrun Johnsen
      Pages 59-73
    3. Gudrun Johnsen
      Pages 75-82
    4. Gudrun Johnsen
      Pages 83-90
    5. Gudrun Johnsen
      Pages 91-96
    6. Gudrun Johnsen
      Pages 97-106
  4. Why Did the Bankers Do It?

    1. Front Matter
      Pages 107-107
    2. Gudrun Johnsen
      Pages 109-117
    3. Gudrun Johnsen
      Pages 119-136
    4. Gudrun Johnsen
      Pages 153-166
  5. Why Didn’t Anybody Stop the Bankers?

    1. Front Matter
      Pages 167-167
    2. Gudrun Johnsen
      Pages 169-177
    3. Gudrun Johnsen
      Pages 179-188
    4. Gudrun Johnsen
      Pages 189-194
    5. Gudrun Johnsen
      Pages 195-198
  6. Back Matter
    Pages 199-243

About this book

Introduction

The combined collapse of Iceland's three largest banks in 2008 is the third largest bankruptcy in history and the largest banking system collapse suffered by any country in modern economic history, relative to GDP. How could tiny Iceland build a banking system in less than a decade that proportionally exceeded Switzerland's? Why did the bankers decide to grow the system so fast? How did businesses tunnel money out of the banking system? And why didn't anybody stop them? Bringing Down the Banking System answers these questions. Gudrun Johnsen, Senior Researcher with Iceland's Special Investigation Commission, tells the riveting story of the rise and fall of the Icelandic banking system, describes the Commission's findings on the damaging effects of holding company cross-ownership, and explains what we can learn from it all.<

Keywords

Iceland 2008 global financial crisis financial crash financial collapse financial history

Bibliographic information