Must see! Iceland is prosecuting PM for not stopping the $$ bubble

TheBigPictureRT
Mar 6, 2012

Egill Helgason, Public Affairs Host on Icelandic TV joins Thom Hartmann. Meet Geir Haarde - the former Prime Minister of Iceland who was in court today facing charges related to Iceland's economic meltdown. Haarde is being charged with negligence for failing to prevent his nation's banks from going under in 2008 - taking the entire nation down with them - and eventually costing him his job in 2009. And today - he is the only world leader so far to be charged with crimes related to the global financial crisis. According to a recent report commissioned by Iceland's Parliament - Haarde and his government "lacked both the power and the courage to set reasonable limits to the financial system." But is that really a crime? And what might a conviction of a world leader mean for others whose fingerprints are all over the financial panic of 2008?