BANGKOK - Soon after Thailand's military seized power last year in a bloodless coup, the Thai Military Bank (TMB) started to bleed cash. Now, the military-affiliated bank's dubious plan to raise US$1 billion in new capital threatens to set off new bouts of political and financial chaos.

http://atimes.com/atimes/Southeast_Asia/IE04Ae01.html

Most state-owned banks throughout the world have a history of underperforming their private-sector peers.

That track record will raise red flags with potential overseas investors for the new offering, and if, as many Bangkok-based banking analysts expect, it goes highly undersubscribed, the Ministry of Finance will likely - and because of its current military affiliation, controversially - be called on to use public funds to mop up the excess shares.

the more things change the more they stay the same ,

rather than attempt to arrest the head long rush into the down wards spiral , they appear to have the foot firmly on the accelerator ..............