Afghan Financial Panic

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AlJazeeraEnglish | September 05, 2010

Nervous customers withdraw their savings amid fears of possible bank collapse.

Banksters, Afghan style

by Creekside, Sept. 2, 2010

Der Spiegel in July: “Billions of dollars are being secreted out of Kabul to help well-connected Afghans buy luxury villas in Dubai.”

The Dubai villas are usually registered in the name of those issuing the loans, such as Sherkhan Farnood, deposed chairman of Kabul Bank, who transferred hundreds of millions of dollars from Afghanistan to Dubai in 2009.

In July Farnood boasted :

“Kabul Bank is so flush that it is building a 30 million headquarters, a cluster of shimmering towers of bulletproof glass.”

Since yesterday Kabul Bank is more like a clusterfuck of shimmering droves of Afghans making bank withdrawals and the only bulletproof part is the time-honoured bankster strategy of asking the US Treasury for a bailout.

Article continues . . .

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