Afghanistan's largest fractional reserve bank on verge of collapse

[devil21]

Well that didn't take long. Oh and they want YOU to pay to keep it from collapsing!

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/02/AR2010090202266_pf.html

DUBAI, UNITED ARAB EMIRATES - As depositors thronged branches of Afghanistan's biggest bank, President Hamid Karzai told Afghans on Thursday not to panic shortly after his brother, a major shareholder in the beleaguered Kabul Bank, called for intervention by the United States to head off a financial meltdown.

"Kabul Bank is safe," Karzai said at a joint news conference at the presidential palace in Kabul with Defense Secretary Robert M. Gates. "People need not panic, need not be worried."

Earlier in the day, Mahmoud Karzai voiced concern over Kabul Bank's ability to withstand an onslaught of depositors demanding their money back. "America should do something," he said in a telephone interview. He suggested that the Treasury Department guarantee the funds of Kabul Bank's clients, who number about 1 million and have more than $1 billion on deposit with the bank.

more at link

Kinda sounds like a shakedown to me but who knows. Wasn't the other Karzai outted as a CIA asset drug lord?

 

[DamianTV]

Why dont they just do what they do here and print up more money? ...oh yeah. It doesnt work.