Thai Senate passes loan bill in hush-hush manner

[Ricardo]

"Earlier before the passage of the bill, Senate Speaker Nikhom Wairatpanich has notified the Senate the deliberation of the loan bill would end at midnight so that another meeting would be held to continue the deliberation at 9 a.m. today.

However he did not keep his word and allowed senators to continue the deliberation of the bill and called a vote at 02.50 a.m."

Lies, damned lies and senate speaker promises.

"However he did not keep his word"

There appears to be a lot of that going around these days, amongst the 'independent non-aligned' office-holders, in Parliament.

Yay for Red-Democracy !

[Robby nz]

It was said not long back that Thai banks would be expected to fund 60% of the 2.2 trillion.

And even more recently the minister of white lies said that Thai banks had sufficient liquidity to fund the whole project.

So it looks like that is their fall back position if they cant get the money elsewhere.

Oh and smutcakes.

When you asked who was getting the bulk of the work I assume you were referring to the Korean Co that welcomed DR Thaksin not so long back.

[teacherofwoe]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

I think you will find the Dems are also in favour of this bill. After all there are many of them and their families who will make good money from it. Where was your beloved opposition?

Not all dems it would seem are in favour

"The loan bill came under attack by opposition leader Abhisit Vejjajiva that it would provide huge fiscal burdens for future generations with an estimated additional 3 trillion baht in interest over the course of 50 years, The burden of paying off this massive loan rests on the current and future taxpayers, children and their grandchildren."

Edited November 20, 2013 by teacherofwoe

[Moruya]

Like thieves stealing in the night.....

[klauskunkel]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

Is it the World Bank that will be providing this money? Because In 2009 there was an article saying they themselves were running out of money?

http://www.telegraph.co.uk/finance/financialcrisis/6255816/World-Bank-could-run-out-of-money-within-12-months.html

Never fear, new money gets printed all the time

[tingtongteesood]

SO let me get this straight, you are telling me that the crooked bunch lied AGAIN and are trying to just do whatever they feel like regardless of whether it is good for the normal people or whether they want it or not ? Surely not..... They will be running out of feet to shoot themselves in very soon hopefully.... They want this to go through as soon as possible and will hold on to power as long as they can in the hopes of leeching as much of this money away as they possibly can. If they get voted in again then god help us all !!!!!!!!!!!!!!!!

[GrantSmith]

Is this why the Constitutional Court didn't order the dissolution of the PTP today? Knowing that this little bit of legislation was coming right behind it?

Dear oh dear...

[Asiantravel]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

Is it the World Bank that will be providing this money? Because In 2009 there was an article saying they themselves were running out of money?

http://www.telegraph.co.uk/finance/financialcrisis/6255816/World-Bank-could-run-out-of-money-within-12-months.html

Never fear, new money gets printed all the time

So why not print 24 hours, seven days a week and everybody can be rich , not just the politicians?

[Baerboxer]

Just imagine the scenario if :- The Whitewash bill had been rammed through, as intended. Then the Senate Election Bill and finally this Loan bill.

The result would be the convicted crook given amnesty and returns to take "official" power. The removal of checks and balances via the Senate and the Senate appointed NGO's. And the cream on the cake, 2.2 trillion baht to do anything they want with.

Unfortunately, the whitewash was seen for what it really is - but is only suspended. The Senate bill ruled unconstitutional - what next? And, now the Senate speaker lies to push the loan bill through.

Someone must have decided to risk all to try and get these through as quickly as possible, whilst they can still cling on to power.

Wake up Thailand - you're being shafted and there not even trying to be subtle anymore. Desperate stuff.

[boomerangutang]

Everyone opposed can always petition the World Bank to reject the loan and instigate the road that was followed by the loan bill and how unconstitutional it was.

It is not Thailand that makes the ultimate decision on the loan, just make the World Bank aware of the actual level of corruption here and they will give it consideration.

There are many other countries that deserve that money a hell of a lot more than Thailand.

The majority of loans in question are thought to be coming from Chinese and Japanese banks with others coming from Thai banks.... 1997 all over again.... maybe.. maybe not..

Regardless of where the money comes from, the people behind it don't have a modicum of care or awareness of what the loan represents and how ridiculous it is. Whether the World Bank, or Thai banks or Chinese banks or whatever, they all eat, sleep, dream money. Money is their God. All else is far down their list of concerns.

In case any of them want to know: the loan is an obscene amount of money for a 3rd world country to spend. What makes it worse is, the money is not earmarked for education, not for parks, not to assist disadvantaged or poor people. Not a satang goes to help the environment or children. IT'S ALL INFRASTRUCTURE, overseen by the folks who paid $17,000 each for worthless bomb detectors, and $7,400 each for clocks which work as well as $16 clocks bought in a shop in town. The main item, comprising over 90% of the 2.2 trillion baht loan (or 6 trillion with %), is a speedo N/S train which is mainly to bolster Chinese commerce.

Cost over-runs = inevitable

project delays = inevitable

shoddy construction = likely

tea money = 30 to 36%, even by gov't estimates

Edited November 20, 2013 by boomerangutang

[Bpuumike]

Typical Thaksin modus operandi of deceit, lies and greed. Only 78 out of 150 senators voted on this bill and only 63 voted yes that is about 42% of the total senators, less than a majority.

If the Thai populous wasn't outraged before they might be now, this may be the straw that broke the camels back.

I have a feeling Madam wants it pushed through quickly so she can have her share while she still manages to hang on to office.

[smedly]

How many of the Thai people even understand what a Trillion baht is or a Billion for that matter - how many currently in government understand what it is - Thaksin knows because that's the sort of money he raped from the people when he abused power as PM.........discusting man

[MAJIC]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

When they eventually wake up.it may be too late!

[Chupup]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

When they eventually wake up.it may be too late!

IMHO it already is to LATE

[boomerangutang]

This government tends to keep everyone in the dark about what they are doing. To wit: they pass their legislation while the people are sleeping.

When they eventually wake up.it may be too late!

IMHO it already is to LATE

I agree. Many Thais, led by the paid-for-vote Issanites, have already sold Thailand down the river. They fell for the Wizard of Oz's promises, and didn't bother to look behind the curtain. Even if the scoundrel disappeared tomorrow, it will take decades for Thailand to get back on its collective feet again. The Shinawatre clan has hobbled Thailand like a pox.

[bigbamboo]

"Earlier before the passage of the bill, Senate Speaker Nikhom Wairatpanich has notified the Senate the deliberation of the loan bill would end at midnight so that another meeting would be held to continue the deliberation at 9 a.m. today.

However he did not keep his word and allowed senators to continue the deliberation of the bill and called a vote at 02.50 a.m."

Lies, damned lies and senate speaker promises.

Nikom at it again playing fast and loose with his very own version of Fergie Time.

[belg]

enslaving the people for 3 generations or more

lets hope HM does not sign this enslavement on his people