Breaking: There's A Run On The Bank In Kabul

[Me.]

“Hamid Karzai's older brother wants the U.S. to guarantee deposits at Afghanistan's largest bank to stop a developing bank run fueled by fears of fraud.

Mahmoud Karzai, Kabul Bank's third-biggest shareholder, told The Washington Post that "America should do something":

Action by the United States, said Mahmoud Karzai, would prevent a run on Kabul Bank and protect other banks, too. He said Kabul Bank is "stable and has money" but cannot withstand a stampede by panicked depositors.


"If the Treasury Department will guarantee that everyone will get their money, maybe that will work," said Karzai, who holds 7 percent of the bank's shares, making him the third-biggest shareholder. Karzai, who spends most of his time in Dubai - where he lives in a waterfront villa paid for by Kabul Bank - rushed to Kabul on Wednesday to join efforts to salvage the bank.”…cont…

http://www.huffingtonpost.com/2010/09/02/kabul-bank-bailout-mahmou_n_703682.html

[GodlessBiker]

1. We better not. That would be the last straw for some.

[aquart]

2. I don't think it's "fears" of fraud. I think it's certainty.

[Me.]

3. More

http://www.ft.com/cms/s/0/e5db1d3a-b68b-11df-86ca-00144feabdc0.html

[Canuckistanian]

4. It's not big enough. It can fail.

Or maybe the governments of Dubai or Abu Dhabi could rush in and save the bank. That's where all the money is anyways.

[louis-t]

5. So, the mayor of Kabul spends his time at a villa

in Dubai? It would break my heart if he lost his millions and his waterfront mansion......Not.

[bushisanidiot]

6. F*ck NO. Those corrupt jerks were put in charge by the AWOL Bush administration

and they're probably still pulling Karzai's strings.

DON'T GIVE KARZAI A DAMN DIME, MR. PRESIDENT!

[The_Casual_Observer]

7. Apparently it looks like the US didn't anticipate this sort of problem

[KansDem]

9. "Nobody could have imagined..."

[iamtechus]

8. Congresswoman Maxine Waters has been charged with ethics violations ...

... for allegedly using her office to aid a bank that is partially owned by her husband. So, in light of this, should we charge Karzai for using his office to protect his 7% of the Kabul bank's shares?

Just askin.

[ThomWV]

10. So, now Afghanistan also has banks too big for us to let fail too?

[monmouth]

11. Charity begins at home. Sorry Kabul. Let Karzai's buddies in Dubai

chip in...

[JCMach1]

15. Dude, Dubai is broke!

He would be barking up the wrong tree there...

[ladywnch]

12. by all means, let's throw more money down a dark rabbit hole

the pallet of US currency that has long gone missing (9 billion in cash wasn't it?) let's just give it ALL away.

money IS the root of all evil------ right? We would be doing them a favor to NOT help them......we are saving them from the evil of money.......they'll thank us one day.......okay, so I won't be around to hear it........nor will my children......or my children's children...........or my children's children's children........orrrrrrrrrrrrrrrrrrrrr.....

[Golden Raisin]

13. Why doesn't Mr. Karzai pop over

to Iraq and ask for some of the $12 billion of U.S. dollars (which we delivered shrink-wrapped and on pallets)? Oh, that's right. It's completely missing and unaccounted for. Just vanished into thin air.

[Marr]

14. Am I crazy to suspect a Republican election year scheme here?

If Obama bails them out, it's another bank bailout-- and a foreign bailout at that. If he doesn't, he'll be "leaving our allies defenseless" or some such.

This smells. I'd very much like to know who is tied into the money from that bank.