Results 1 to 7 of 7

Thread: Losses at Afghan Bank Could Be $900 Million

  1. #1
    Banned
    Join Date
    May 2009
    Location
    Redneck Riviera
    Last Seen
    07-09-11 @ 06:11 PM
    Gender
    Lean
    Moderate
    Posts
    28,728

    Losses at Afghan Bank Could Be $900 Million

    http://www.nytimes.com/2011/01/31/wo...l.html?_r=2&hp

    Fraud and mismanagement at Afghanistan’s largest bank have resulted in potential losses of as much as $900 million — three times previous estimates — heightening concerns that the bank could collapse and trigger a broad financial panic in Afghanistan, according to American, European and Afghan officials.

    The extent of these losses make it clear that keeping the bank afloat — something the government has said it is determined to do — would require large infusions of cash from an already strained budget.

    Banking specialists, businessmen and government officials now fear that word of Kabul Bank’s troubles could prompt a run on solvent banks, destroying the country’s nascent banking system and shaking the confidence of Western donors already questioning the level of their commitment to Afghanistan.
    I think this would be the top story in most media outlets, were it not for the protests in Egypt.

  2. #2
    pirate lover
    liblady's Avatar
    Join Date
    Aug 2009
    Location
    St Thomas, VI
    Last Seen
    03-14-16 @ 03:55 PM
    Gender
    Lean
    Progressive
    Posts
    16,165
    Blog Entries
    1

    Re: Losses at Afghan Bank Could Be $900 Million

    Quote Originally Posted by Catz Part Deux View Post
    http://www.nytimes.com/2011/01/31/wo...l.html?_r=2&hp



    I think this would be the top story in most media outlets, were it not for the protests in Egypt.
    any more money we throw at afghanistan will ultimately have been wasted.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  3. #3
    Sage
    apdst's Avatar
    Join Date
    Jun 2009
    Location
    Bagdad, La.
    Last Seen
    Today @ 11:44 AM
    Gender
    Lean
    Very Conservative
    Posts
    76,524

    Re: Losses at Afghan Bank Could Be $900 Million

    Quote Originally Posted by liblady View Post
    any more money we throw at afghanistan will ultimately have been wasted.
    Yeah, let's walk off and allow history to repeat itself.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  4. #4
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    Re: Losses at Afghan Bank Could Be $900 Million

    Quote Originally Posted by apdst View Post
    Yeah, let's walk off and allow history to repeat itself.
    You have to know when to hold them, and when to fold them.

    In this case, a working banking system is a GOOD thing, so demanding that a real institutional system to prevent fraud and waste.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  5. #5
    Guru
    Councilman's Avatar
    Join Date
    Apr 2009
    Location
    Riverside, County, CA.
    Last Seen
    11-04-11 @ 10:16 PM
    Gender
    Lean
    Conservative
    Posts
    4,454
    Blog Entries
    10

    Re: Losses at Afghan Bank Could Be $900 Million

    We have known for a long time that corruption in Afghanistan is rampant and has been since before we got involved. It's just a matter of degree.

    We cannot allow any Nation in the Middle East to collapse from Egypt to Afghanistan and everything in between. We also need to make sure that none of them fall under Islamic/Sharia law which would further complicate the whole situation and bring us too close to a war no one could possibly win.

    A bank collapse is never a good thing and a bailout without massive reform is a waste of money.

  6. #6
    Slayer of the DP Newsbot
    danarhea's Avatar
    Join Date
    Aug 2005
    Location
    Houston, TX
    Last Seen
    Today @ 12:03 PM
    Gender
    Lean
    Conservative
    Posts
    39,763

    Re: Losses at Afghan Bank Could Be $900 Million

    Quote Originally Posted by Catz Part Deux View Post
    http://www.nytimes.com/2011/01/31/wo...l.html?_r=2&hp



    I think this would be the top story in most media outlets, were it not for the protests in Egypt.
    Damn, just like banking in the good old USA. So when is the government going to give the Afghan banksters their bailout money for screwing up so good?
    Last edited by danarhea; 02-01-11 at 05:14 PM.
    The ghost of Jack Kevorkian for President's Physician: 2016

  7. #7
    Banned
    Join Date
    May 2009
    Location
    Redneck Riviera
    Last Seen
    07-09-11 @ 06:11 PM
    Gender
    Lean
    Moderate
    Posts
    28,728

    Re: Losses at Afghan Bank Could Be $900 Million

    Quote Originally Posted by danarhea View Post
    Damn, just like banking in the good old USA. So when is the government going to give the Afghan banksters their bailout money for screwing up so good?
    I think that, unlike the U.S., it's the wild wild west there, and those involved should be rotting in an afghani prison with all their assets forfeited. The FBI/DEA are great at tracking assets and should be given free reign to do so.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •