harris campaign, clean up on aisle Electoral College

[roomian]

Dear friends!

I'm searching for somebody from Thailand banking society.

Could we just talk a little bit about banking crises in Thailand 1983 and 1997 or may be 2008-2009? If you have some time, indeed.

I'll be very appreciate!

I think your crises was very similar to one we experience today in Ukraine.

I'm experienced banking and investment professional from Ukraine. Our country felt in crises and all of our professionals thinking about ways to fix this situation. I'm banking journalist as well and currently researching for possibility of creation National Asset Management Company (NAMC) to deal with banks' NPLs.

I know 1997 Thai crisis provides an example of a central bank that failed to comprehend the risks that the country faced. At the heart of the growing crisis were a fixed currency peg and an overreliance on short-term foreign funds (very similar to what happened in Ukraine !!!!!). The correct response to the escalating flight of foreign capital would have been to let the currency peg go and try to conserve its foreign reserves. Instead it made a desperate last-ditch attempt to maintain the currency peg and, with speculators adding to the pressure, lost its US$30bn in reserves over the course of a month. The economy had enjoyed stable and strong economic growth for most of the period since the peg was introduced. Policy makers did not recognize that the conditions under which the currency peg had been useful had changed, however. Private sector economists and officials from the IMF had warned them of the growing risks and advocating a shift to a floating rate system by introducing a currency “band” and widening that band over time. But this advice was ignored (like here, in Ukraine!!!).

I'm just having some questions to discuss with you:

1 How did you guys deal with that financial crises (currency peg dilemma and short-term foreign funds)? What helped you recover economy?

2 How much time after what happened country recovered? Year.. two.. three?

3 Who helped banks with NPLs? In Ukraine we have 25-30% of banks' portfolio as distressed assets (NPLs) and thinking about creation of NAMC who will buy all that NPLs and clear banking system. What do you think about this? Is there any experience in Thailand regarding such Agency (National or Independent)?

Please e-mail me if you're interested [email protected]

Thanks in advance!

Hoping for feedback and hoping you'll enjoy talking with me!

Best Regards,

Artem

based in Kyiv, UKRAINE

Edited January 18, 2009 by roomian

[misterman21]

Dont hold your breath

PS Your assumption that the major players could not see the looming crisis, is just that - an assumption (and wrong in my opinion)

Do you think that the current world crisis was not by design