Former SET president says Thailand is suffering from 'Corruption Disease'

[Emdog]

Did he say anything about this back when he was employed? It's not like this sprung up overnight.....

[mrtoad]

Seem the situation is getting so dire that many ex financial leader are joining the chorus, this government is bleeding the economy dry and stealing Thailands future prosperity.

Covering their backs, before the Coup.

[dru2]

Thailand's corruption is amateurish and negligible compared to USA's.

What nonsense!

[Thai at Heart]

So lets cut to the chase my Ex patties. Is the Bht going to crash or what? If so leave them to it. Bye

Sadly it won't because the USD will go first and further

[lovetotravel]

So lets cut to the chase my Ex patties. Is the Bht going to crash or what? If so leave them to it. Bye

Sadly it won't because the USD will go first and further

Been hearing that for a long time. And probably will continue to hear it for a long time to come. Without it ever becoming reality.

[Thai at Heart]

So lets cut to the chase my Ex patties. Is the Bht going to crash or what? If so leave them to it. Bye

Sadly it won't because the USD will go first and further

Been hearing that for a long time. And probably will continue to hear it for a long time to come. Without it ever becoming reality.

Well, the Thai baht has run the way all the way back from 50+ to the USD to 30 today. It was historically at 25 for a long time.

The USA for within a hairs breadth of default. Anyone desperately trying to consider buying USD debt at 0.5%? Anyone taking?

The only way out for the USA is to devalue the USD slowly and surely. Thailand weakness means nothing versus the level of USA debt and fiscal weakness.

[lovetotravel]

So lets cut to the chase my Ex patties. Is the Bht going to crash or what? If so leave them to it. Bye

Sadly it won't because the USD will go first and further

Been hearing that for a long time. And probably will continue to hear it for a long time to come. Without it ever becoming reality.

Well, the Thai baht has run the way all the way back from 50+ to the USD to 30 today. It was historically at 25 for a long time.

The USA for within a hairs breadth of default. Anyone desperately trying to consider buying USD debt at 0.5%? Anyone taking?

The only way out for the USA is to devalue the USD slowly and surely. Thailand weakness means nothing versus the level of USA debt and fiscal weakness.

Unfortunately, what the OP talks about effects this also. Do we really know the true level of Thailand's debt? The finance minister did admit to telling "white lies". At least with the US, it's relatively transparent. So you can properly decide what to do.

As we saw when news came out about the fed reducing their QE program, money flowed out of Thailand. For a good reason?

[Thai at Heart]

So lets cut to the chase my Ex patties. Is the Bht going to crash or what? If so leave them to it. Bye

Sadly it won't because the USD will go first and further

Been hearing that for a long time. And probably will continue to hear it for a long time to come. Without it ever becoming reality.

Well, the Thai baht has run the way all the way back from 50+ to the USD to 30 today. It was historically at 25 for a long time.

The USA for within a hairs breadth of default. Anyone desperately trying to consider buying USD debt at 0.5%? Anyone taking?

The only way out for the USA is to devalue the USD slowly and surely. Thailand weakness means nothing versus the level of USA debt and fiscal weakness.

Unfortunately, what the OP talks about effects this also. Do we really know the true level of Thailand's debt? The finance minister did admit to telling "white lies". At least with the US, it's relatively transparent. So you can properly decide what to do.

As we saw when news came out about the fed reducing their QE program, money flowed out of Thailand. For a good reason?

Yes, but issues like turning off qe are medium term. Thailand has less than 50% debt, USA EU UK 80% plus depending on how you calculate it. Throw in the default possibility and an unfolding of obamacare that needs to be paid for beyond the gargantuan debt level already there.

On average in the long run, the Thai baht will strengthen. Wouldn't the USA like to cheapen it's exports anyway?

[chainarong]

A startling piece of information this is, Thailand has been corrupt since they started printing money, this corruption disease is so in-trenched in Thai society , that you will never remove this disease with out a morals crusader from Mars being involved, Thailand will never change ,along with some other bad habits, its here to stay .

[noitom]

The head of the stock exchange moaning about corruption? How many insider trading cases they ever had in Thailand?

I mean honestly. Is this the case of the pooyai calling the kettle black?

And can you imagine how much insider trading and manipulation goes on at SET and by its listed companies?

[meatboy]

Seem the situation is getting so dire that many ex financial leader are joining the chorus, this government is bleeding the economy dry and stealing Thailands future prosperity.

yep and there is no plaster big enough to stop the bleeding and no antidote to cure the tuther.

[UncleJ]

Lots of insider trading going on with the SET staff.

Edited October 19, 2013 by UncleJ

[smedly]

Seem the situation is getting so dire that many ex financial leader are joining the chorus, this government is bleeding the economy dry and stealing Thailands future prosperity.

IMO stolen already to the extent they need a 2 trillion loan to fill the gaps - I thought is was obvious

[GeorgeO]

Seem the situation is getting so dire that many ex financial leader are joining the chorus, this government is bleeding the economy dry and stealing Thailands future prosperity.

It is, however, quite heartening to see 'people in high places' coming out against the current regime. This may encourage more of them to start speaking up and ultimately bring this regime to an end.

[meatboy]

Seem the situation is getting so dire that many ex financial leader are joining the chorus, this government is bleeding the economy dry and stealing Thailands future prosperity.

yep and there is no plaster big enough to stop the bleeding and no antidote to cure the tuther.

i see one country not far away has found a cure "its called a fireing squad"

[GeorgeO]

Unfortunately, what the OP talks about effects this also. Do we really know the true level of Thailand's debt? The finance minister did admit to telling "white lies". At least with the US, it's relatively transparent. So you can properly decide what to do.

As we saw when news came out about the fed reducing their QE program, money flowed out of Thailand. For a good reason?

As you have alluded to, I also firmly believe that when this "government" is ousted, and the truth comes out on Thailand's true debt figure, no-one is going to want to take over.

There is absolutely no transparency here, and we are simply supposed to accept, when her ladyship tells us, that there is no corruption in the current government.

[oldsailor35]

Thailand's corruption is amateurish and negligible compared to USA's.

What corruption are you referring to in the USA?

YES! lets have a few examples instead of innuendoes. And are the police on the same level as they are here in Thailand.

[A1Str8]

Dont worry. When this government fails, someone will come along with a new set of promises. He or she is going to be elected. The only promise that is going to be delivered: there will be more dept.

[shaurene]

A Country run by a Government is basically a business and has to be run like a business and pay dividends to it's people.

The top companies in the world all have a management board and a CEO to direct the company. A country should be run the same way. Employ top qualified people and pay them well on results, not having people elect someone from their areas who could be a no no who has money to bribe people to vote for them.

[Thai at Heart]

The head of the stock exchange moaning about corruption? How many insider trading cases they ever had in Thailand?

I mean honestly. Is this the case of the pooyai calling the kettle black?

And can you imagine how much insider trading and manipulation goes on at SET and by its listed companies?

I would rather berry on Thai soccer than try to make money trading the SET. Even CP got investigated when buying MAKRO.

[lovetotravel]

The head of the stock exchange moaning about corruption? How many insider trading cases they ever had in Thailand?

I mean honestly. Is this the case of the pooyai calling the kettle black?

And can you imagine how much insider trading and manipulation goes on at SET and by its listed companies?

I would rather berry on Thai soccer than try to make money trading the SET. Even CP got investigated when buying MAKRO.

I seem to remember it was pretty obvious, but nothing happened to the CP boss?

[LarryBird]

The head of the stock exchange moaning about corruption? How many insider trading cases they ever had in Thailand?

I mean honestly. Is this the case of the pooyai calling the kettle black?

And can you imagine how much insider trading and manipulation goes on at SET and by its listed companies?

I would rather berry on Thai soccer than try to make money trading the SET. Even CP got investigated when buying MAKRO.

I seem to remember it was pretty obvious, but nothing happened to the CP boss?

You mean the richest businessman in Thailand?

[Thai at Heart]

The head of the stock exchange moaning about corruption? How many insider trading cases they ever had in Thailand?

I mean honestly. Is this the case of the pooyai calling the kettle black?

And can you imagine how much insider trading and manipulation goes on at SET and by its listed companies?

I would rather berry on Thai soccer than try to make money trading the SET. Even CP got investigated when buying MAKRO.

I seem to remember it was pretty obvious, but nothing happened to the CP boss?

Don't think it was him personally, but someone inside attached to a deal. Some thai guy got indicted in the USA for trading on another deal concerning CP in the USA. Its rife, so don't come the anti corruption line.

Isn't his wife something to do with the tourism authority? They have been triple counting long stayers and regular travellers based in thailand forever as individuals so they can inflate their numbers.

[Benmart]

Thailand's corruption is amateurish and negligible compared to USA's.

As an American, I agree. Thailand has around 66 million people vs 313 million people. The Thai GDP is around 365 billion USD vs USA which is around 16 Trillion USD. Even an uneducated, amateur such as myself, would conclude that there would be more opportunity for dishonesty and corruption.

As China positions itself as the number one world economy, it will also inherit the corruption crown and all that goes with it. I can hardly wait to see another country give it a shot and become the bull-eye for the world.

Edited October 19, 2013 by Benmart

[UncleJ]

They even steal from kids.

Schools suppliers pay 35% to the administrators.

Sick country.

[pablodiablo]

corruption is so deeply embedded in thai culture its untrue! i was in the kitchen 1 wk ago and my wife came in with a big smile on her face, your happy today yea she says just got 1000bt for the vote,the vote ? but the funny thing is she got 500bt from 2 more when you consider this is just a local council election makes you think i said why don't you vote for someone who will do good like fix the potholes no point she says they just put any money they get from government in there pockets!!!!!!!!!!!!!!!!

[phitsanulokjohn]

You don't say.Thats certainly news to me.

[phitsanulokjohn]

You don't say.Thats certainly news to me.

[anotheruser]

Thailand's corruption is amateurish and negligible compared to USA's.

Maybe we should hope it stays that way?

[LarryBird]

Thailand's corruption is amateurish and negligible compared to USA's.

Maybe we should hope it stays that way?

It's already been pointed out, it's the worst post in the thread.