Ransacked is a film about the financial crisis in Iceland and how hedge funds who bet on the crash bought the failed banks for a few cents on the dollar. It is also the story of how the global financial system affected the lives of one family in Iceland.Iceland´s banking sector was deregulated and privatised in 2000-03. Within 5 years the banks were almost 12 times the nation´s GDP with short term funding and risky assets. In September 2008 Lehman Brothers filed for bankruptcy and within days Iceland's banking sector collapsed.Hedge funds manage 3.2 trillion dollars with the top 25 hedge fund managers earning in 2013 on average almost 1 billion dollar each. For the last 10 years hedge fund have played a major role in the Icelandic economy by taking positions with and against Iceland´s currency and as owners of the failed banks.Ransacked is also about Thorsteinn Theodorsson who lost his business and almost lost his life. The loans were in foreign currencies and doubled or trebled during the crisis. With the help of his daughter Theodora Thorsteinsdottir who went to university to study Law they took the Bank to Court.Who are the winners and who are the losers? What are the lessons from the financial crisis?
Ransacked is a film about the financial crisis in Iceland and how hedge funds who bet on the crash bought the failed banks for a few cents on the dollar. It is also the story of how the global financial system affected the lives of one family in Iceland.Iceland´s banking sector was deregulated and privatised in 2000-03. Within 5 years the banks were almost 12 times the nation´s GDP with short term funding and risky assets. In September 2008 Lehman Brothers filed for bankruptcy and within days Iceland's banking sector collapsed.Hedge funds manage 3.2 trillion dollars with the top 25 hedge fund managers earning in 2013 on average almost 1 billion dollar each. For the last 10 years hedge fund have played a major role in the Icelandic economy by taking positions with and against Iceland´s currency and as owners of the failed banks.Ransacked is also about Thorsteinn Theodorsson who lost his business and almost lost his life. The loans were in foreign currencies and doubled or trebled during the crisis. With the help of his daughter Theodora Thorsteinsdottir who went to university to study Law they took the Bank to Court.Who are the winners and who are the losers? What are the lessons from the financial crisis?
Directors: Petur Einarsson
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Producers: Petur Einarsson
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Student project: No
Completion date: 10/05/2016
Shooting format: 2K
Aspect ratio: 1.78:1
Film color: Color
First-time filmmaker: No
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