webfact Posted October 9, 2013 Share Posted October 9, 2013 Senate gives green light to 2.2 trillion baht loan billBANGKOK, 9 October 2013 (NNT) - The 2.2 trillion baht loan bill received the green light from the Senate on the first reading after 2 days of discussion.The Senate yesterday voted 86 in favor of the bill and 41 against. The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency.The Senate has set up a 25-member committee to scrutinize the bill within 7 days.Earlier, Deputy Prime Minister and Finance Minister Kittiratt Na Ranong reiterated that the repayment of the planned borrowings would not affect the country’s GDP and assured the public that the projects would definitely benefit all involved.Meanwhile, Transport Minister Chadchart Sittipunt stressed that a parliamentary passage of the bill did not signify that infrastructure projects could commence immediately. All projects have legal procedures they have to go through for transparency and for checks and balances.-- NNT 2013-10-09 Link to comment Share on other sites More sharing options...
Popular Post siampolee Posted October 9, 2013 Popular Post Share Posted October 9, 2013 The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency. So why did these senators vote for this bill if they felt it was somewhat problematical? Was it part of the condition of their stipend payments, is it because they sense a new commission scheme coming into operation from which they will benefit from or are they totally without a moral or ethical soul or the mental capability to see past their noses? this is the beginning of a total financial disaster for Thailand and the lighting of the fuse of to the bomb of debt bondage for its peoples. 7 Link to comment Share on other sites More sharing options...
jackandjim Posted October 9, 2013 Share Posted October 9, 2013 (edited) coincidentally thaksin buys a football club when the loan is cleared. Edited October 9, 2013 by jackandjim Link to comment Share on other sites More sharing options...
Popular Post chainarong Posted October 9, 2013 Popular Post Share Posted October 9, 2013 The out comes for this loan waver in favour of a default , the senators do no favours to Thailand and it's people by passing this loan , knowing full well that the country cannot afford the repayments, is a poor reflection of the standard of character Thai politicians project and the continual neglect of their people. 5 Link to comment Share on other sites More sharing options...
Popular Post Bender Posted October 9, 2013 Popular Post Share Posted October 9, 2013 i guess Ferrari and Lamborguini will have to open new shop in Bkk 3 Link to comment Share on other sites More sharing options...
hitz Posted October 9, 2013 Share Posted October 9, 2013 The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency. So why did these senators vote for this bill if they felt it was somewhat problematical? See below for the answer to your question and a good assessment of the future. Was it part of the condition of their stipend payments, is it because they sense a new commission scheme coming into operation from which they will benefit from or are they totally without a moral or ethical soul or the mental capability to see past their noses? this is the beginning of a total financial disaster for Thailand and the lighting of the fuse of to the bomb of debt bondage for its peoples. Link to comment Share on other sites More sharing options...
WhizBang Posted October 9, 2013 Share Posted October 9, 2013 So it's game on. The question becomes, how long before the collapse sets in? 1 Link to comment Share on other sites More sharing options...
worgeordie Posted October 9, 2013 Share Posted October 9, 2013 They can always pay off the debit with rice and rubber. Most countries in the World are trying desperately to get out of debit, while Thailand jumps in with both feet ! regards Worgeordie Link to comment Share on other sites More sharing options...
jbrain Posted October 9, 2013 Share Posted October 9, 2013 springs to mind 1 Link to comment Share on other sites More sharing options...
marcusd Posted October 9, 2013 Share Posted October 9, 2013 Meanwhile, Transport Minister Chadchart Sittipunt stressed that a parliamentary passage of the bill did not signify that infrastructure projects could commence immediately. All projects have legal procedures they have to go through for transparency and for checks and balances. Now I think this means "we are working on ways to rip[ off as much as we can and share it to all those nice Senators who helped us BANKRUPT the country". And whilst the country goes bankrupt we will mopve overseas into our new houses and luxury homes. 1 Link to comment Share on other sites More sharing options...
Popular Post Soutpeel Posted October 9, 2013 Popular Post Share Posted October 9, 2013 piggies at the trough time again 4 Link to comment Share on other sites More sharing options...
bkkgriz Posted October 9, 2013 Share Posted October 9, 2013 30% graft on 2.2 trillion baht will buy quite a few BMW's and vacation homes abroad. Oh to be a connected businessman or politician in this lifetime. Some people must have done some very good things in a previous life. Link to comment Share on other sites More sharing options...
Popular Post ezzra Posted October 9, 2013 Popular Post Share Posted October 9, 2013 I will venture to say that in a short while, those 2.2 trillion baht " will not be enough to complete all the work" and a top up will be needed... 3 Link to comment Share on other sites More sharing options...
pedro01 Posted October 9, 2013 Share Posted October 9, 2013 If they do borrow the 2.2T - time to invest in Thai stock market I think! Link to comment Share on other sites More sharing options...
EyesWideOpen Posted October 9, 2013 Share Posted October 9, 2013 I hope the Mercedes dealers have stocked up !!!!! The gold shops should probably stock as well, with mia nois getting fresh coverings of gold... Truly a sad day for Thailand. On one hand I almost have to hand it to Thaksin. Spend a few billion baht to take over the country. Then load up the government with family members and stooges. Once that is all in place, then time to LOOT !!!! Link to comment Share on other sites More sharing options...
phantomfiddler Posted October 9, 2013 Share Posted October 9, 2013 30% graft on 2.2 trillion baht will buy quite a few BMW's and vacation homes abroad. Oh to be a connected businessman or politician in this lifetime. Some people must have done some very good things in a previous life. The S-U link must be rubbing their hind legs together with delight. A country run by megalomaniacs Link to comment Share on other sites More sharing options...
sawadee1947 Posted October 9, 2013 Share Posted October 9, 2013 ..of course you have to invest in infrastructure in order to develop this country. With doing nothing but complaining the pot holes or rotten trains or broken old cars which make driving an adventure, complaining about a PM who is busy to do her work, complaining about misery of life as many of those members are doing here....there will be NO change at all. I agree with this decision of senators who give a good oulook for Thailand. The economy will grow, definetely. So it will be no doubt in paying back the loan. 1 Link to comment Share on other sites More sharing options...
hammered Posted October 9, 2013 Share Posted October 9, 2013 Good news Link to comment Share on other sites More sharing options...
gerry1011 Posted October 9, 2013 Share Posted October 9, 2013 The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency. So why did these senators vote for this bill if they felt it was somewhat problematical? Was it part of the condition of their stipend payments, is it because they sense a new commission scheme coming into operation from which they will benefit from or are they totally without a moral or ethical soul or the mental capability to see past their noses? this is the beginning of a total financial disaster for Thailand and the lighting of the fuse of to the bomb of debt bondage for its peoples. If they voted favorably, it could be because those senators see that investment in infrastructure is a good thing for the country, and that they see it as a necessity to compete with other countries, and that they see it as an improvement for the Thai people, and that it will be good for the economy, and that they realize that enough time has been lost... They might be concerned by the debt and raise the question, but apparently they see the need to "do" something, rather than to just keep Thailand in the past eternally... Great! Sent from my iPhone... Link to comment Share on other sites More sharing options...
DrDweeb Posted October 9, 2013 Share Posted October 9, 2013 The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency. So why did these senators vote for this bill if they felt it was somewhat problematical? Was it part of the condition of their stipend payments, is it because they sense a new commission scheme coming into operation from which they will benefit from or are they totally without a moral or ethical soul or the mental capability to see past their noses? this is the beginning of a total financial disaster for Thailand and the lighting of the fuse of to the bomb of debt bondage for its peoples. If they voted favorably, it could be because those senators see that investment in infrastructure is a good thing for the country, and that they see it as a necessity to compete with other countries, and that they see it as an improvement for the Thai people, and that it will be good for the economy, and that they realize that enough time has been lost... They might be concerned by the debt and raise the question, but apparently they see the need to "do" something, rather than to just keep Thailand in the past eternally... Great! Sent from my iPhone... That's the funniest, least insightful thing I have read today. Let the feeding frenzy begin. Bankruptcy 101 coming soon to a theatre near you. Link to comment Share on other sites More sharing options...
MaiChai Posted October 9, 2013 Share Posted October 9, 2013 What amazes me is that the government has shown very little interest in saying what the money will be used for, and instead has concentrated on getting the money approved. That can only mean that they are interested in the kick backs and are not interested in what infrastructure will be delivered. Most other governments would be promoting what would be delivered and the benefits to the people and country. Link to comment Share on other sites More sharing options...
Valentine Posted October 9, 2013 Share Posted October 9, 2013 Fiscal responsibility! How can a loan of such magnitude be approved without a detailed breakdown of projects & their cost along with projected revenues. No bank manager in their right mind would approve any kind of loan based on some vague promise. Link to comment Share on other sites More sharing options...
midas Posted October 10, 2013 Share Posted October 10, 2013 (edited) Debt Dynamics Recent decades have seen great fluctuations in public and private debt loads around the globe. Watch how global economic forces have affected debt-to-GDP ratios in various countries by using the interactive chart below. http://graphics.wsj.com/world-debts/#i[]=999&b=1 Edited October 10, 2013 by midas Link to comment Share on other sites More sharing options...
GentlemanJim Posted October 10, 2013 Share Posted October 10, 2013 The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency. But they still gave the bill the green light Earlier, Deputy Prime Minister and Finance Minister Kittiratt Na Ranong reiterated that the repayment of the planned borrowings would not affect the country’s GDP and assured the public that the projects would definitely benefit all involved. I assume by 'all involved' he means all of those at the trough! The MP's and Senators who passed the biggest loan in the countries history without even knowing where and how the money is going to be spent. It's funny isn't it that if you get a mortgage or a big loan from any bank in Thailand, they will not give you all the money at once. For a house they will only give you the amount of money required as each part of a house is completed, on a loan they need proof positive that the money is going to be spent where you said and all invoices, receipts must be shown etc. Here we have a Thai Government wanting money over a period of 8-10 years for various projects and wanting it all now, and paying interest on it all now. Something is really not right. It's going to end in tears! 1 Link to comment Share on other sites More sharing options...
gerry1011 Posted October 10, 2013 Share Posted October 10, 2013 (edited) The majority of senators clarified that although they support the infrastructure development projects which will be boons to the nation's economic growth, they still have concerns over various issues such as the Government's ability to pay off the debt, the project's investment return, and a lack of transparency.So why did these senators vote for this bill if they felt it was somewhat problematical?Was it part of the condition of their stipend payments, is it because they sense a new commission scheme coming into operation from which they will benefit from or are they totally without a moral or ethical soul or the mental capability to see past their noses? this is the beginning of a total financial disaster for Thailand and the lighting of the fuse of to the bomb of debt bondage for its peoples. If they voted favorably, it could be because those senators see that investment in infrastructure is a good thing for the country, and that they see it as a necessity to compete with other countries, and that they see it as an improvement for the Thai people, and that it will be good for the economy, and that they realize that enough time has been lost...They might be concerned by the debt and raise the question, but apparently they see the need to "do" something, rather than to just keep Thailand in the past eternally... Great! Sent from my iPhone... That's the funniest, least insightful thing I have read today.Let the feeding frenzy begin. Bankruptcy 101 coming soon to a theatre near you. Of course it is But that's just because it goes the opposite way compared to what you think and want to read from other people. Senators could still be thinking like that though... and find your posts very funny too Not everybody is obliged to share your perspective. Sent from my iPhone... Edited October 10, 2013 by gerry1011 Link to comment Share on other sites More sharing options...
rametindallas Posted October 10, 2013 Share Posted October 10, 2013 Nancy Pelosi said, "But we have to pass the [=======] bill so that you can find out what is in it." Link to comment Share on other sites More sharing options...
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