The United States is being asked to fund another bank bailout. This one however is in Kabul. This might not sit well with Americans who continue to watch billions spent in Iraq and Afghanistan as states shutdown critical programs. Moreover, Afghan President Hamid Karzai recently stated that he was considering joining the Taliban and fired the top prosecutor to stop him from investigating grotesque levels of corruption among his advisers and family. He also accused the United States of massive fraud in his country. Now, however, he is calling on the United States to intervene to prevent Kabul Bank from failing.
There is a run on the bank and Karzai is calling on the U.S. to do something quickly.
He insists “America should do something” and wants the Treasury Department to guarantee the funds of Kabul Bank’s clients for about $1 billion on deposits. It appears his decision to join the Taliban may be delayed. By the way, recent reports shows billions stolen or lost in Afghanistan, including allegations targeting Karzai and his brothers. If true, they could shore up the bank by just transferring stolen funds from places like Dubai back to Kabul and ask their advisers to do the same.
Alternatively, with the recent report of the CIA bribing Karzai advisers on a regular basis, we could just stipulate that all U.S. bribes will be paid directly to accounts at the Kabul Bank.
Source: Washington Post
Jonathan Turley
“He’s prone to tirades. He can be very emotional, act impulsively. In fact, some of the palace insiders say that he has a certain fondness for some of Afghanistan’s most profitable exports.”
http://tpmlivewire.talkingpointsmemo.com/2010/04/former-un-envoy-to-afghanistan-suggests-karzai-has-a-drug-problem-video.php
I suspect Karzai is auditioning for a position at Goldman Sachs and demonstrating, in real time, how easily he could become one of the boys.
So supporting somebody’s rise to power just because they dislike the same people as you turns out badly?
If only there was some example (preferably in the same country) of that happening we could have learned from.
Unfigging believable. So who on the wall is willing to sit this one out?
eniobob,
Interesting. And based on his behavior, a real possiblity.
Gyges,
That was as dry as a martini. Well played.
This guy has been a clown and a hindrance since the day Bush propped him up.
Buddha,
Well to be fair, you’d be hard pressed to find a continent without a relevant example. Who can forget the ill advised “Great Old One” regime we installed in the Antarctic?
lol
and he wants the money transfered to a numbered swiss account.
The troubles of Kabul Bank are worrisome for two reasons: one, that 250,000 of government workers rely on it for the delivery of their salaries. And lets not forget that a good portion of those workers are armed (the police and the army). And secondly, it will force the citizens to reconsider their trust for the banking system, which is young and fragile.for details, please read my blog
http://costofwar.wordpress.com/
What’s the Afghan word for cajones?
There is an update to this story today from The Guardian
http://www.thenation.com/blog/154567/lawrence-wright-torture-taliban-and-what-do-about-afghanistan-part-ii-our-interview Lawrence Wright’s HBO film on last night will be on again and is definitely worth watching.
I really don’t understand where this man is coming from. Is he so out of touch as to think that America, which has its own financial bailout woes, will actually bailout directly a foreign bank? Remember the uproar when it was found that our supposed domestic bank bailout included some foreign banks?
And he thinking aloud about joining the Taliban?
Don’t we provide his security or something? Why do we even support him? He is the opposite of a puppet head of state.
Another reason why we just shouldn’t be in Afghanistan.