Afghan Authorities Take Over Biggest Bank To Avoid Meltdown

Washington Post :

Afghanistan's Central Bank has taken control of the country's biggest and most politically potent private bank and ordered its chairman to hand over $160 million worth of luxury villas and other real estate purchased in Dubai for well-connected insiders, according to Afghan bankers and officials.

Read the whole story: Washington Post

Comments

[lightningbolt]

09:41 AM on 09/02/2010

We need to ask our government: Why can Afghanistan hold its banks accountable and we cannot? Why is crime still rampant in our banks?

[krikkit 1]

10:04 PM on 09/01/2010

Wow! banking scandal in afghanistan. does this mean we finally brought american style democracy to them? mission accomplished, everyone can come home now.

[omobob]

09:20 PM on 09/01/2010

That Karzai’s brother is part of the Central Bank Take over is not especially comforting. Karzai has little credibility left to stand on. The fox has investigated the theft at the chicken coop and found the guilty chickens.

[Christian Schultz]

06:18 PM on 09/01/2010

What isn't well known is that Karzai's brother is a partial owner in the Bank. And that bank has it's hands in a lot of questionable actions. In addition, the bank pays the salary of the military and the police force. So lots of questions of extreme corruption going on.
I'm serving in Afghanistan now. I've heard some of the populace talking about this bank and it's a good thing the government is taking control. I would not put my money in this bank if I was an Afghan.
Keeping it honest before something damaging occurs is the best way.

[521sunnyside]

05:08 PM on 09/01/2010

If Goldman Sachs was running our millitary they would have beat the Afghan government to the punch!

[Kevin Atlanta]

02:48 PM on 09/01/2010

So the European Central Banksters have just robbed another nation's private citizens...
Go figure.

[holeybuybull]

02:39 PM on 09/01/2010

Is Goldman Sachs ruining their economy too?

[comicpro]

12:44 PM on 09/01/2010

Does the corruption ever end in that hellhole? Yes I feel bad for the people but THEY need to oust the corrupters! No more American blood to be shed for these crooks! I have to wonder if after all these reports of corruption and malfease is the Taliban really that bad of an alternative!!!!!!

[Gurg]

03:51 PM on 09/01/2010

are you pakistani?

[comicpro]

04:24 PM on 09/01/2010

Steview Wonder can see I am not Pakistani! Are you high sir?

[Mahi Joe]

11:56 AM on 09/01/2010

I wonder whose money is sitting in that bank.

[GeorgeBurnsWasRight]

10:50 AM on 09/01/2010

Apparently they've learned how to screw up their banks, so our efforts to teach them American values haven't failed completely.

[alysheba 3]

11:05 AM on 09/01/2010

EXACTLY what I was going to post 8)

Faved.

[Extranjero]

09:22 AM on 09/01/2010

What Irony...................maybe we can learn something from the Afghans! Take over the theiving banks and demand that the crooks at the top return the money.

[HamletsMill]

08:57 AM on 09/01/2010

Wow!