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Calling all FReepers: We need to wrap this baby up by the end of the month. If you have not yet made your donation, please do so today. We can do this. Thank you very much!!

Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Free Republic 2nd Quarter Fundraising Target: $88,000 Receipts & Pledges to-date: $74,903
85%  
Woo hoo!! And we're now over 85%!! Less than $13.1k to go!! We can do this. Thank you all very much!! Let's git 'er done!!

Keyword: kabulbank

Brevity: Headers | « Text »
  • The Bank Bust That Nearly Took Down Afghanistan

    12/27/2012 2:48:48 PM PST · by Lorianne · 1 replies
    TIME ^ | 30 November 2012 | John Wendle
    ... new details about how a small group of men profited from fraudulent loans. It called out local authorities for succumbing to political pressure and the international community for not doing enough to stave off the catastrophe which led to a near-complete meltdown of Afghanistan’s banking system in 2010. The report, partly compiled from the results of a nine-month-long audit conducted by Kroll, a global investigations firm, said that the crisis was brought on by a well-hidden Ponzi scheme. More than 92% of the bank’s loan book, or $861 million, was extended to 19 related individuals and businesses, which ultimately...