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Yet although the downturn was the most dramatic financial event for decades, we have not seen anything similar to the deep investigations and reforms unleashed in the United States.
Not all the convicted bankers ended up behind bars.
But the loss of these titles hardly compares with the prison sentences being handed out in Reykjavik.
In New York, a couple of minor British bankers have just been convicted of manipulating inter-bank lending rates.
The authorities pursued bank bosses, chief executives, civil servants and corporate raiders for crimes ranging from insider trading to fraud, money laundering, misleading markets, breach of duties and lying to the authorities.
Others still await trial after this fishing nation with fewer people than Sunderland stupidly tried to take on the world’s financial titans.