You only have one goat? I deposited two goats! I demand both back and do not babble to me about fractional reserve herding!
Mary, Mary, what did Uncle Billy do with the other goat?
Posted on 09/02/2010 9:00:49 AM PDT by Palter
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.
(Excerpt) Read more at washingtonpost.com ...
So sell off mineral rights and drill for Oil,it is not our job to finance them.
GIVE ME A BREAK!!! As if we don’t have enough debt of our own, we are now supposed to bail them out???? What on earth is this world coming to???
I heard Mark Steyn mention this yesterday.
He said liabilities were 300 mil. And assets were 12 dollars and a pregnant goat. LOL
Just a few months ago the big news was that Afghanistan had a trillion dollars worth of mineral resources. That’s good collateral, so what’s the problem? We need to bail them out??
No, Hamid. Talk to the big Chinese dude next door. He owns our debt, too.
What a turd.
We should bail them out, with recent reports abounding about $billions of American taxpayer money unaccounted for? wtf
You only have one goat? I deposited two goats! I demand both back and do not babble to me about fractional reserve herding!
Mary, Mary, what did Uncle Billy do with the other goat?
America is broke, might try Saudi Arabia or China!
But how can the Karzai family afford their luxury properties in Dubai if there is no bailout?
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