Ex-Prime Minister of Iceland Convicted on Charge Related to Financial Crisis

See? It can be done.

LONDON — Iceland’s former prime minister, Geir H. Haarde, was found guilty of failing to keep his cabinet informed of major developments during the 2008 financial crisis, but was cleared of three more serious charges of negligence on Monday.

Mr. Haarde was acquitted of three charges that were linked to his management during Iceland’s economic collapse in 2008, which could have resulted in a jail sentence. A Reykjavik court ruled that Mr. Haarde would not receive any punishment on the one guilty count, and that his legal expenses would be covered.

Mr. Haarde was the first politician to face a court over his actions — or, in this case, inactions — during the financial crisis as three of the nation’s largest banks collapsed. He was accused of not doing enough to avoid the failure of the banking system and the economy, which forced the country to seek financial help from the International Monetary Fund.

Outside the court on Monday, Mr. Haarde called the one guilty charge “very laughable” and said it was “silly.”

http://dealbook.nytimes.com/2012/04/23/icelands-ex-prime-minister-convicted-of-one-charge-related-to-financial-crisis/