The film Ransacked tells the story of the rise and fall of Iceland's banking sector, which was deregulated and privatized in the early 2000s. The banks grew rapidly, but were ultimately destroyed by the global financial crisis in 2008. Hedge funds, who had bet on the crash, made massive profits, while individuals like Thorsteinn Theodorsson, who lost his business and almost his life, were left to pick up the pieces. The film explores the role of hedge funds in the crisis and the impact on one Icelandic family, raising questions about who benefits and who loses in such situations, and what lessons can be learned from the financial crisis.
Ransacked
The 2008 collapse of Iceland's major banks sparked a financial crisis, as hedge funds acquired the institutions at a significant discount, ultimately transferring the burden to the public.
