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Friday, September 3, 2010

Run on the banks in Afghanistan

Karzai urges Afghans not to panic as bank withdrawals accelerate

Earlier in the day, Mahmoud Karzai voiced concern over Kabul Bank's ability to withstand an onslaught of depositors demanding their money back. "America should do something," he said in a telephone interview. He suggested that the Treasury Department guarantee the funds of Kabul Bank's clients, who number about 1 million and have more than $1 billion on deposit with the bank.

Umm, how about – “No.”

First we’ll worry about the bullets, then we’ll think about worrying about your bank (maybe).

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