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RE: LeoThread 2024-12-04 16:59

in LeoFinance8 days ago

Part 4/11:

The banks, centered around figures such as Jan Askgary Johannesen, borrowed massive amounts of money to acquire expensive foreign assets, including high-end retail businesses and yachts. Despite their reckless behavior, auditing firms and credit rating agencies continued to deem Iceland's banks as financially sound, granting them the highest ratings just before their eventual collapse.

The Collapse and Blame