Iceland Jails Its Bankers

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The 2008 global economic crisis hit hard in Iceland. Its three major banks and stockmarket collapsed and it was forced to seek an emergency bail-out from the IMF. But unlike many other countries affected by the global downturn, Iceland decided to prosecute its leading bankers. Around forty top executives were jailed. Mike Lanchin has been hearing from Special Prosecutor, Olafur Hauksson, who led the investigations. (Photo: Protesters on the streets of Reykjavik demand answers from the government and the banks about the country's financial crisis, Nov. 2008. (Halldor Kolbeins/AFP/Getty Images)