Leading Banker Considers Thai Political Conflicts More Worrisome Than Global Economic Crisis

[webfact]

Leading banker considers Thai political conflicts more worrisome than global economic crisis

BANGKOK, 15 June 2012 (NNT) – A leading banker has expressed worries over the impact of the country’s political turmoil, while the global economic problem persists.

KasikornBank CEO and President Banthoon Lamsam said on Thursday that the current political conflicts in Thailand should be considered something bigger than the global economic issues.

Mr. Banthoon stated that the problems of Thailand must be handled by people in the country, who should sort a more peaceful way out of the conflict, particularly the brewing resentment surrounding the debate of a controversial law.

He said that when people have continuously engaged in conflicts, no concrete solution will ever be identified, just like the case of the draft controversial laws that cannot be resolved in Parliament.

-- NNT 2012-06-15

[brit1984]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

[kimamey]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Brilliant idea. Guys running round in white shirts with wooden bats and hard balls in their hands. Stop sniggering, I meant cricket balls as well you know. Can't see any problem there

[Time Traveller]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

No chance, cricket has laws.

[MEL1]

Thailand needs an invasion, so it can't be astounded at its own history of being the only country unoccupied.

An invasion might bring a few principles with it, even if it was an invasion my the Mongols.

Then again, the Russians are invading, but with the wrong principles; so sorry, forget my first idea.

-mel.

[xkmasada]

He's a Lamsam... major fundraiser of the Democrats.

[TackyToo]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

You are soooo right! Cricket makes every other activity in life look exciting!

[Phatcharanan]

He's a Lamsam... major fundraiser of the Democrats.

Go back to sleep.

[OzMick]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

[swillowbee]

... he is, of course, correct ... even with global economic stability, Thailand remains uninvestible to many smart investors, domestic and foreign.

... one barometer ... the majority of international private equity investors (smart underwriters of risk) abandoned Thailand long ago, just after currency controls, an economic bludgeon, were declared.

... Thailand's situation has since continued to disintegrate and they have not returned ... many risks can be underwritten for in Thailand ... currency risks, market risks, financing risks, permitting risks, etc. ... the three most often cited risks for Thailand for which international private equity cannot reasonably underwrite anymore are:

• Rule of law risks (corruption);
  
• Partner risks (again, corruption); and,
  
• Political risks (once again ... corruption).
  

... this might be the best Thailand can expect ... a highwater mark and the highest level Thailand's cultural values will allow it to ascend.

... watch out Thailand ... here comes ASEAN.

[rubl]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Utterly, really utterly incorrect. Thailand needs football

[h90]

Thailand needs an invasion, so it can't be astounded at its own history of being the only country unoccupied.

An invasion might bring a few principles with it, even if it was an invasion my the Mongols.

Then again, the Russians are invading, but with the wrong principles; so sorry, forget my first idea.

-mel.

They were by Myanmar.

[phiphidon]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Who stole 10 billion baht from a bank?

[ratcatcher]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Jolly good idea old chap.

Let's see, the Attorney General has queered the pitch for Thaksin's return since he skipped bails some years ago. Yongyuth is batting on a rather sticky wicket regarding the Alpine case and the heads of Grammy and True Visions are stumped for an answer to the ongoing Euro 2012 problem. Seems no-one is on the ball.

All in all, daily events in Thailand actually offer enough entertainment without actually having to play.

It just isn't cwicket!

Anyone for tea and sandwiches?

[thaicbr]

Thailand needs an invasion, so it can't be astounded at its own history of being the only country unoccupied.

An invasion might bring a few principles with it, even if it was an invasion my the Mongols.

Then again, the Russians are invading, but with the wrong principles; so sorry, forget my first idea.

-mel.

Thailand WAS invaded by the Burmese (several times) the last time in 1767 that is taught in thai history classes. But the Japanese invasion (open door) is not taught in history class :D

sent from my Wellcom A90+

[ratcatcher]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Utterly, really utterly incorrect. Thailand needs football

You mean the type of football, Robben, Kuyt and van Persie play?

[rubl]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Utterly, really utterly incorrect. Thailand needs football

You mean the type of football, Robben, Kuyt and van Persie play?

You ever wondered why some talk about the 'Dutch players' and the 'German Team' ?

[brit1984]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Jolly good idea old chap.

Let's see, the Attorney General has queered the pitch for Thaksin's return since he skipped bails some years ago. Yongyuth is batting on a rather sticky wicket regarding the Alpine case and the heads of Grammy and True Visions are stumped for an answer to the ongoing Euro 2012 problem. Seems no-one is on the ball.

All in all, daily events in Thailand actually offer enough entertainment without actually having to play.

It just isn't cwicket!

Anyone for tea and sandwiches?

Yes, cucumber sandwiches please

[OzMick]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Who stole 10 billion baht from a bank?

As they have only so far been indicted, it would only be alleged.

[geriatrickid]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Apparently you missed this weeks $619 million penalty on the ING bank for "trading with the enemy".

How about last month's Citigroup, Morgan Stanley, UBS and Wells Fargo agreeing to pay fines of more than $9 million to settle cases tied to exchange-traded funds? And in the UK, Coutts, the Queen’s bank, was fined £8.75million for ‘serious and systematic’ failings when handling money from suspected criminals or foreign despots. City regulators criticised the 320-year-old private bank for taking ‘an unacceptable risk of handling the proceeds of crime’. In the USA, Denver, Co.; 3 top executives of Headwaters MB, a Denver-based middle-market investment banking firm, were fined and suspended by securities regulators for creating “false and misleading” reports, according to the April disciplinary actions report from FINRA. On and on the list goes with banks and executives indicted for helping clients engage in money laundering and tax fraud. True, some bankers do not necessarilyrestrict their criminal acts to embezzlement from their banks, instead,they just steal from their clients, or from the citizens of countries. That's not to say that bankers don't steal from, or cheat their employers. I don't suppose you know who Nick Leeson was and why he was put in jail for do you? How about the chap from Societie Generale?

Do you recall some of the bank failures in Thailand?

You really are quite "special".

Edited June 15, 2012 by geriatrickid

[OzMick]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Apparently you missed this weeks $619 million penalty on the ING bank for "trading with the enemy".

How about last month's Citigroup, Morgan Stanley, UBS and Wells Fargo agreeing to pay fines of more than $9 million to settle cases tied to exchange-traded funds? And in the UK, Coutts, the Queen’s bank, was fined £8.75million for ‘serious and systematic’ failings when handling money from suspected criminals or foreign despots. City regulators criticised the 320-year-old private bank for taking ‘an unacceptable risk of handling the proceeds of crime’. In the USA, Denver, Co.; 3 top executives of Headwaters MB, a Denver-based middle-market investment banking firm, were fined and suspended by securities regulators for creating “false and misleading” reports, according to the April disciplinary actions report from FINRA. On and on the list goes with banks and executives indicted for helping clients engage in money laundering and tax fraud. True, some bankers do not necessarilyrestrict their criminal acts to embezzlement from their banks, instead,they just steal from their clients, or from the citizens of countries. That's not to say that bankers don't steal from, or cheat their employers. I don't suppose you know who Nick Leeson was and why he was put in jail for do you? How about the chap from Societie Generale?

Do you recall some of the bank failures in Thailand?

You really are quite "special".

Actually no and then yes,to most of your inane questions. I was not defending bankers by any stretch of the imagination, and I am well aware of their misdeeds, if not all.

I am also quite aware of Thaksin and how he has enriched himself with money belonging to those I consider well below the poverty line, and the insatiable greed that drives him and his family to try for even more. Is there ever enough?

What I find difficult to understand, when evidence of another B10 billion theft comes to light, is those with the benefits of a western education, who claim to be well informed, and who defend these thieves because they used public funds to garner support.

I might be "special" but at least I am not so amoral as to condone venality, greed, and corruption because I get to mix with these Rsoles and it makes me feel like a "big man".

[bigbamboo]

So, in short, he is saying that as far as Thailand is concerned the Thaksin issue crisis is a bigger problem than the global financial crisis.

If ever Thailand needed a leader it's now.

[bigbamboo]

Thailand needs cricket

Sent from iPhone; please forgive any typos or violations of forum rules

Jolly good idea old chap.

Let's see, the Attorney General has queered the pitch for Thaksin's return since he skipped bails some years ago. Yongyuth is batting on a rather sticky wicket regarding the Alpine case and the heads of Grammy and True Visions are stumped for an answer to the ongoing Euro 2012 problem. Seems no-one is on the ball.

All in all, daily events in Thailand actually offer enough entertainment without actually having to play.

It just isn't cwicket!

Anyone for tea and sandwiches?

Thailand would always struggle to find enough solid team players who could play with a straight bat and would always lack pace but there would be no shortage of spin. And watch out for that Chinaman!

[rubl]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Apparently you missed this weeks $619 million penalty on the ING bank for "trading with the enemy".

How about last month's Citigroup, Morgan Stanley, UBS and Wells Fargo agreeing to pay fines of more than $9 million to settle cases tied to exchange-traded funds? And in the UK, Coutts, the Queen’s bank, was fined £8.75million for ‘serious and systematic’ failings when handling money from suspected criminals or foreign despots. City regulators criticised the 320-year-old private bank for taking ‘an unacceptable risk of handling the proceeds of crime’. In the USA, Denver, Co.; 3 top executives of Headwaters MB, a Denver-based middle-market investment banking firm, were fined and suspended by securities regulators for creating “false and misleading” reports, according to the April disciplinary actions report from FINRA. On and on the list goes with banks and executives indicted for helping clients engage in money laundering and tax fraud. True, some bankers do not necessarilyrestrict their criminal acts to embezzlement from their banks, instead,they just steal from their clients, or from the citizens of countries. That's not to say that bankers don't steal from, or cheat their employers. I don't suppose you know who Nick Leeson was and why he was put in jail for do you? How about the chap from Societie Generale?

Do you recall some of the bank failures in Thailand?

You really are quite "special".

Dear Gkid, your list is fairly accurate, but beside the point. After any of those cases with either banks or employees of any level accused (and maybe subsequently convicted), do you think many bank's support those indicted for stealing from a bank ?

[waza]

SATIRE

Hmmm looks like the PTP is building a solid financial foundation for Thailands future.

[gand]

I am with the banksters on this one.

[billd766]

He's a Lamsam... major fundraiser of the Democrats.

Do you think many bank presidents support those indicted for stealing B10 billion from a bank? Convicted of dodgy land deals? Arsonists who target banks?

Apparently you missed this weeks $619 million penalty on the ING bank for "trading with the enemy".

How about last month's Citigroup, Morgan Stanley, UBS and Wells Fargo agreeing to pay fines of more than $9 million to settle cases tied to exchange-traded funds? And in the UK, Coutts, the Queen’s bank, was fined £8.75million for ‘serious and systematic’ failings when handling money from suspected criminals or foreign despots. City regulators criticised the 320-year-old private bank for taking ‘an unacceptable risk of handling the proceeds of crime’. In the USA, Denver, Co.; 3 top executives of Headwaters MB, a Denver-based middle-market investment banking firm, were fined and suspended by securities regulators for creating “false and misleading” reports, according to the April disciplinary actions report from FINRA. On and on the list goes with banks and executives indicted for helping clients engage in money laundering and tax fraud. True, some bankers do not necessarilyrestrict their criminal acts to embezzlement from their banks, instead,they just steal from their clients, or from the citizens of countries. That's not to say that bankers don't steal from, or cheat their employers. I don't suppose you know who Nick Leeson was and why he was put in jail for do you? How about the chap from Societie Generale?

Do you recall some of the bank failures in Thailand?

You really are quite "special".

I remember Nick Leeson.

Qoute from Wikipedia the last part of which I found amusing

Nicholas "Nick" Leeson (born 25 February 1967) is a former derivatives broker whose fraudulent, unauthorized speculative trading caused the collapse of Barings Bank, the United Kingdom's oldest investment bank, for which he was sent to prison.^[1] Since leaving prison in 1999 he became, and subsequently resigned as, the CEO of Irish football club Galway United and is active on the keynote / after-dinner speaking circuit where he advises companies about risk and corporate responsibility.^[2]