Subscribe to RSSAfghanistan’s Biggest Bank Hopes to Join the Troubled List
According to the FDIC, the government’s list of problem banks is now at its highest level since 1993. In all according to the most recent data, 829 banks are now at the risk of failure, up 53 from the 755 from the first quarter of this year. That’s on top of the 118 banks that have closed this year including the 45 closings during the most recent quarter. That’s troublesome since the FDIC fund set aside to potentially bailout these troubled institutions is itself already $15.2 billion in the red! But as bad as that is that’s not exactly the banking story that has me so worked up today Instead, it’s the prospect of bailing out the biggest bank in Afghanistan that has me so irked today that I can barely type out this rant. After all, everyday I ask myself what exactly in the hell is going on over there. First it’s our blood and now it’s been suggested that we donate even more of our treasure. Either way, I’m certain that this stone age paradise will never be worth any of it. As for the story it is by Andrew Higgins and Ernesto Londono entitled: Karzai’s brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate “ 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 …
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Afghanistan’s Biggest Bank Hopes to Join the Troubled List
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