Run At The Kabul Bank Alarms Everyone. U.S. Treasury Being Asked To Bail Them Out

Afghan customers inside the main branch of the weakened Kabul Bank, whose losses might exceed $300 million. Adam Ferguson for The New York Times

Afghans Pull Money From Troubled Kabul Bank -- L.A Times

Officials say the bank is safe despite reports of massive losses.

Reporting from New Delhi and Kabul, Afghanistan — Afghans on Thursday rushed to withdraw their savings from troubled Kabul Bank despite attempts by officials to reassure nervous depositors that their money was safe.

But the scramble, which followed U.S. news reports that Afghanistan's largest private bank faced liquidity problems, had not yet risen to the level of a bank run.

Read more ....

More News On The Run Of Deposits From The Kabul Bank

Afghans Pull Money From Weakened Bank -- New York Times
Karzai's brother calls for U.S. to shore up Kabul Bank as withdrawals accelerate -- Washington Post
Kabul Bank Woes Spur Call For Another U.S. Treasury Bailout -- NPR
Karzai Kin Asks U.S. to Bolster His Bank -- Wall Street Journal
Kabul Bank Customers Crowd Branch Seeking Withdrawals as Managers Replaced --- Bloomberg
Run on Afghan bank's deposits reported -- MSNBC
Lessons in Crony Capitalism -- Huffington Post

My Comment: The corruption in that country is unbelievable, which when coupled with President Obama's speech on Tuesday in which he "alluded" that the U.S. will be withdrawing from the region in the near future .... who would then want to keep their money in such a hell hole.

The more that I read about this story, the more horrified I am on how huge this Ponzi scheme is. Speculating on luxury real estate in Abu Dhabi that results in heavy financial loses .... and they want us to bail them out .... you got to be kidding.