An audit of the Kabul Bank in Afghanistan finds rampant fraud and crony capitalism.
The audit reveals that, since 2001, as much as $900 million were funneled out of the bank and into the hands of a small political elite with close ties to Afghan President Hamid Karzai. As the New York Times reports, "For many Afghans, the scandal surrounding Kabul Bank, a linchpin of the economic order established here by Americans and their allies, has cemented the opinion that the United States brought crony capitalism, not free markets, to Afghanistan." And we wonder why the Middle East is so wary of Western style politics and capitalism? Looking at the corrupt global financial system that unregulated capitalism has created, who would want to be a part of it other than corrupt politicians and banksters?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
Even in stone age, backwards cesspools like Afghanistan, the banksters STILL are there, staeling and robbing like its their REAL job. Oh. My bad. Thats IS their job, as far as they are concerned. But don't DARE steal a loaf of bread. Thats death sentence. Or a LONG prison term.
Post a Comment