Understand something, the problem here isn’t the fact that Kenyan banks open and close like the doors on a Disney ride. The problem is Kenyans expressing free speech on Twitter, using the devilish hash tag #KOT to communicate with fellow Kenyans–concerned over their deposits.
“We had some individuals that shouted fire in a crowded theater room; to me there is nothing as reckless as that,” he told reporters in the capital, Nairobi. “If one made such horrendous statements, you can cause a run, some crisis. Indeed the bank was under serious pressure.”
Chase Bank on Wednesday sought to assure customers that it was operating normally as a flurry of comments on social-media sites speculated on the financial health of the company. Rumors on the safety of deposits and investments mounted following the resignation of Chairman Zafrullah Khan and Managing Director Duncan Kabui, and concern over a qualified opinion expressed by auditors on earnings that had been restated to show a surge in loans to employees and directors.
Don’t worry folks. The government of Kenya, the all benevolent non corrupt officials who are pilfering the country, will protect you from those Twitter people causing banks to fail. Once Twitter releases the location of these criminals and the government imprisons them, all will be well again.
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“Rumors have been rife on social media which is turning out to be a pre-eminent early warning system,” Aly-Khan Satchu, chief executive officer of Rich Management, an adviser to companies and wealthy individuals, said in response to e-mailed questions