August 17, 2022

Wall Street Doesn’t Hate This Spending Bill

Source: The New York Times

The U.S. responded by freezing Afghanistan’s foreign exchange reserves in New York — $7 billion worth. President Biden set aside half of that for relatives of Sept. 11 victims to pursue in the courts. The other $3.5 billion is supposed to support Afghan needs, but the U.S. said on Monday that it would not release the funds anytime soon, despite criticism from economists and humanitarian groups.

“The global architecture against financial crimes is designed to exclude and go after groups like the Taliban,” said Alex Zerden, formerly of the Treasury’s Office of International Affairs, and an expert witness for some 9/11 victims. So the system was ill equipped to manage the “perverse” turn of events in Kabul, he added.

Read the full story and more from The New York Times.


  • Alex Zerden

    Adjunct Senior Fellow, Energy, Economics, and Security Program, Founder and Principal, Capitol Peak Strategies LLC

    Alex Zerden is the founder and principal of Capital Peak Strategies LLC, a FinTech, digital asset, and emerging technologies advisory firm. As a regulatory lawyer, economic po...