Afghan leaders promised to guarantee deposits in an attempt to arrest the panic, which began at the end of August 2010 when the country's top banking officials demanded the resignations of both Frozi and Farnood. "The government has decided that there will be an audit firm that will be coming to audit not only Kabul Bank accounts but also other private banks in Afghanistan", an Afghan presidential spokesman announced in late October. Earlier in the month, the government also froze assets held by some of Kabul Bank's owners even as the central bank governor said it was solvent and had the backing of Karzai's administration. U.S.-educated economist Hamidullah Farooqi, a former Karzai minister and chairman of the Afghanistan International Chamber of Commerce, said Afghanistan received a "massive wake-up call" from the crisis, further stating: "It's not just a lack of capacity in our institutions, there is a lack of laws and a lack of accountability, which is much more serious. It's a case of the blind leading the blind. They are too young, they are babies."