Karzai’s Brother Calls for U.S. to Shore Kabul Bank as Withdrawals Accelerate
September 2nd, 2010Dear Uncle $ugar,
We have replenished our supply of suitcases and we’re ready to fill them up and head to the airport.
Send money soon.
Love and kisses,
The Karzai Clan
In other news:
Brother of Afghan Leader Is Said to Be on CIA Payroll
Afghan Drug Trade: “Most of the government officials are involved.”
Reports Link Karzai’s Brother to Afghanistan Heroin Trade
Hamid Karzai Signs Law ‘Legalising Rape in Marriage’
Karzai Family’s Wealth ‘Fuelling Insurgency’
Karzai Aide in Corruption Inquiry Is Tied to CIA
Via: Washington Post:
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.
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.
Treasury officials have said they have confidence in Afghanistan’s Central Bank, which ousted Kabul Bank’s top officials earlier this week and has sought to stabilize the bank’s finances.
But those moves may have spurred a panic: Depositors, said people familiar with the situation, yanked at least $90 million from Kabul Bank on Wednesday and the hemorrhaging of funds accelerated Thursday.
“Yesterday was not too bad, but today is worse,” said a Kabul Bank insider. “It is a very bad situation.”
The CIA does make a lot of mistakes and has a lot of bad employees, but they can’t be that dumb (i.e. are naively trying to buy loyalties). I bet that they have a policy that India, Pakistan and Iran would potentially have a lot of strength and pose a threat if they had unity, and could form a superpower, so it is best to keep them fragmented.
Who said anything about dumb? This is about narcotics trafficking.
haha, you have got to admit, the balls-out ballsiness of this is over the fuckin’ top…