[kictanet] Bloggers and Social Media are not to blame for the Chase Bank crisis

[James Kagwe]

I think people should embrace social media rather than complain about it.
Social media is part of us and nobody has control regrading what it will
spew out there the next minute. I can only compare it to a natural
phenomena like earthquake.

What organisations need to do is put their act together because we are now
in the days foretold by the good book when "everything hidden will come out
to light"

Rgds,
James Kagwe
On Apr 9, 2016 1:28 PM, "James Wamathai via kictanet" <
kictanet at lists.kictanet.or.ke> wrote:

http://www.blog.bake.co.ke/2016/04/09/bloggers-and-social-media-are-not-to-blame-for-the-chase-bank-crisis/

"The continuous and sustained efforts to blame bloggers for the financial
turmoil at Chase Bank cannot continue unabated. A statement from the
Central Bank of Kenya (CBK) blamed bloggers stating “Chase Bank Limited
experienced liquidity difficulties, following inaccurate social media
reports and the stepping aside of two of its directors.”

Nothing can be further from the truth. Chase Bank was put under
receivership on 7th April, 2016 for liquidity challenges due to lack of
integrity by the management. None of the top directors; the Chairman and
the Chief Executive are bloggers. No blogger or social media user was the
recipient of the huge loans the directors and staff of the bank gave
themselves, against banking regulations."





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