Wednesday, September 8, 2010

Progress in Handling of Bank Bailouts

The New York Times reports that the emerging democracy of Afghanistan is taking a strong stand against bank bailouts, that was an interesting twist. Yes the government is calling upon others to bailout the bank, but that doesn't mean that the government is not willing to do is its part. It sent soldiers to prevent workers from entering the bank to claim their back wages. At least, the new government, for all its faults, clearly understands the priorities of a modern capitalist system.

http://www.nytimes.com/2010/09/09/world/asia/09kabul.html?_r=1&ref=world

1 comment:

jazs07 said...

After the news pop out that they will be receiving help from US the U.S. Treasury officials insisted that no American taxpayer money will be used to recapitalize Kabul Bank.

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