Karzai's brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate

[dkf]

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/02/AR2010090202266.html

DUBAI - As depositors thronged branches of Afghanistan's biggest bank, Mahmoud Karzai, the brother of the Afghan president and a major shareholder in beleaguered Kabul Bank called on Thursday for intervention by the United States to head off a financial meltdown.

"America should do something," said Karzai in a telephone interview, suggesting that the U.S. Treasury Department guarantee the funds of Kabul Bank's clients, who number about a million and have more than a billion dollars on deposits with the bank.

Kabul Bank handles salary payments for soldiers, police and teachers. It has scores of branches across Afghanistan and holds the accounts of key Afghan government agencies. The collapse of the bank would likely spread panic throughout the country's fledgling financial sector and wipe out nine years of effort by the United States to establish a sound Afghan banking system, seen as essential to the establishment of a functioning economy.

[doc03]

1. So now we have to bail out a bank in Afghanistan n/t

[ToppleTheTeaParty]

14. Can we pick out one whisker for each million dollars he wants?

Let's make it hurt :) :) :)

[truebrit71]

2. Yeah..not so much...

..

[pscot]

3. Boy. How dumb does he think we are?

:banghead:

[dkf]

8. Peter Galbraith says the banks officials took funds and invested in Dubai real estate.

[pscot]

11. And it's one, two, three

What're we fightin for
You know I don't give a damn
I'm goin to Afghanistan....

[saigon68]

17. Gimme an "F" Gimme a "U"

LOL

[eShirl]

16. D'oh!

[Turbineguy]

10. The Glenn Beckathon

gave him hope.

[monmouth]

4. Close down the bank for a few days...Geez...n/t

[AndyA]

5. WHY should America do something?

Why don't you people take care of your own country for a change? Deadbeats.

[iamtechus]

6. Ask Karzai if the name "Maxine Waters" rings a bell.

[onethatcares]

7. here's some news for Karzai

depositors today stormed the account of Onethatcares and found it to be sorely lacking in fund. On that note, Onethatcares petitioned the United States Government to intervene in said account, thereby avoiding a financial meltdown for Onethatcares and family.

The United States Government hasn't bothered to respond as yet. Something about congress being on the summer vacation and preparing to go on the halloween vacation right before the Thanksgiving vacation which will lead into the Christmas vacation soon followed by the New Year vacation leaving
very little time to consider the request by Onethatcares.

back to the subject. as soon as corrupt Karzai can prove that he's established a functioning democracy we will send him to Household finance corporation to apply for a loan. We might even vouch for him, but we will not co sign anything.

[Canuckistanian]

9. Sounds like the "Gravy Train" is derailing

And what "panic" are they talking about? 99.2% of Afghans are dirt poor. They have no bank accounts or loans from this "Bank".

It's far too premature to expect a bank to function normally in a country that's engaged in a civil war and whose political system is corrupt to the point of paralysis.

[mike r]

12. Karzai and his thugs probably looted it

to add to their secret offshore bank accounts.

[lib2DaBone]

13. Help... Send more cash... Pallets of cash went missing....

However we must fire Teachers, Firefighters and cut Social Security. Long Live Afghanistan!

[eShirl]

15. maybe US war profiteers should bail them out

I'm sure he knows who they might be