Pheu Thai executives open accounts at GSB in show of support to BAAC lending

[webfact]

Pheu Thai executives open accounts at GSB in show of support to BAAC lending

BANGKOK, 19 February 2014 (NNT) – Pheu Thai Party leading figures visited Government Savings Bank (GSB) branches on Tuesday and opened accounts, in a gesture of support to the paying of farmers who were still waiting for their rice mortgage money.

Pheu Thai Chief Advisor Somchai Wongsawat yesterday visited a GSB branch on Phetchaburi Road and made a deposit of roughly 10 million baht. He said Pheu Thai members were setting an example in helping the rice growers, after concerns arise regarding potential lack of liquidity at the GSB, which started supplying the Bank for Agriculture and Agricultural Cooperatives with an interbank loan but later canceled the move.

Deputy prime minister Plodprasop Surasawadi visited a GSB branch in Nonthaburi and opened a personal savings account worth 2 million baht while his wife opened her own account of 520,000 baht. During the visit, the couple were jeered on by a number of people who were at the bank to withdraw their money.

Salini Wangtan, an assistant governor of the Bangkok of Thailand, and a group of businessmen also visited the GSB's main office to make deposits. She added that the 30 billion baht worth of withdrawals made on Monday by GSB account holders would not damage the banking system.


-- NNT 2014-02-19

[telecom]

How nice of them.

Combine the amount of 'symbolic' deposits and it won't even reach 1% of the withdrawals from Monday alone. Yesterday there were reports that the run on the bank was worse again, yet I think the GSB are staying tight lipped over the amount, but I am suspicious that it was way more than 30 Bn.

Would seem almost poetic justice if the run continues, that the bank declares insolvency by the end of the week and those chumps lose their money.... Or at least have it locked in there till the bank liquidators can liquidate some of its assets.

Nice to see the PTP putting their money in so it can be taken back out again by the depositors.

[NongKhaiKid]

Tidy amounts from people who are supposedly not the elite and who represent the ' ordinary ' people.

[huanga]

When the "truth" of PTP's rice scam comes out, can every ordinary Thai citizen hold every PTP member financially responsible for every baht that they have ill-squandered? It's getting me sicker and sicker to read and see how these politicians are pilfering and plundering this beautiful country without any disregard and dare to even justify their action in doing so!

Sick to the bone!

[jaltsc]

"Pheu Thai Chief Advisor Somchai Wongsawat yesterday visited a GSB branch on Phetchaburi Road and made a deposit of roughly 10 million baht. He said Pheu Thai members were setting an example in helping the rice growers,"

The example set was: If you can find a way to collect graft, you too can have 10 million baht to deposit. It is so much easier when yoo are using other people's hard earned money.

[Ricardo]

One trusts that the bank will carry-out appropriate 'due diligence', as to the source of any cash-funds, from any 'dubious persons' who might open accounts ?

"Excuse me, sir, did you pack this wardrobe plastic-bag yourself ?"

[Robby nz]

How can any deposits into the GSB help the farmers, if, as has been stated the loan to the BAAC was to shore up the BAAC liquidity and NOT to pay the farmers ?

Or was it all a lie and the loan (loans, up to 20 billion) was actually to pay the farmers ?

[thesetat2013]

From what i read this morning in US the GSB lost $US 190 mil but Thaksins son deposited 11 mil. If ths continues through the week this bank will be unable to operate anymore.

Since the banks president is a tried and true PTP supporter its hard to believe he was ignorant about what this loan was to be used for. Especially with the Gov lack of funds to pay the farmers and their failed loan attempts. Common sense would show the president what the loan was really for. Then there is the facts that as soon as he approved this money YL began telling the farmers she had their money and would pay all within a month.

So either the president only knows how to add numbers and could not add 1+1 with facts or he is a total lackey for the PTP party. My vote goes for the latter of these two.

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

[ChrisY1]

Ironic......depositing possibly ill earned funds from the public coffers in a show of bravado......don't tell me that any of these people would use their own funds in a bank that could possibly crash!

Did these new accounts actually get opened....or is it all show?

[webfact]

Pheu Thai core members get booed at GSB bank



BANGKOK: -- A group of core members of the ruling Pheu Thai party got booed at the Government Savings Bank inside Bangkok Tower branch after they went to deposit cash amounted to three million baht to shore up the bank’s shaken liquidity from bank rush.

The executive members of the party went to open deposit accounts after they reached a decision to help the bank by opening deposit accounts.

The party’s advisor Somchai Wongsawat said the meeting of the party members agreed to request all its members to help deposit their money at the bank and also to encourage the people to put their money in the bank to help farmers to compensate the 30 billion baht cash which depositors withdrew yesterday.

The party was concerned that the bank rush to withdraw cash would affect the bank’s liquidity.

Coming to open bank accounts included Bhokin Polakul, Charupong Ruangsuwan, Sompong Amornvivat, Prompong Nopparit, Worawat Uah-apinyakul, Ruangkrai Leekitwatana, and Kanit Bunsuwan.

A total of 10 accounts with 3 million baht in cash were deposited.

During the opening of bank accounts by the Pheu Thai party’s executives, news was quickly spread, prompting many people to get angry and came with whistles to blow and shout at them in front of the tower building.

However, there was no violence and all Pheu Thai members then left under the protection of their guards.

Source: http://englishnews.thaipbs.or.th/pheu-thai-core-members-get-booed-gsb-bank/


-- Thai PBS 2014-02-19

[telecom]

deposit cash amounted to three million baht to shore up the bank’s shaken liquidity from bank rush.

Oh come on.... 3 million baht to shore up losses potentially upwards of 100 billion.

Another pathetic PTP attempt to try and show the country that everything is good.

[zaphodbeeblebrox]

Looks like good fodder for the anti-money laundering commission. I'm sure if I made a deposit in the amount that Jatuporn promised he would make, I would be investigated.

[sakthai]

Where is Thaksin now? Why he not transfer his 50 millions into GSB. to support his sister?

Sent from my iPad using Thaivisa Connect Thailand

[coma]

They opened them for convenience in ciphering off more cash would be more correct.

[moonao]

The can only withdraw the money once, so they can't do this trick again.

In the meantime, lets release the names of those companies donating to the terrorist protesters so the people can take their trade elsewhere and put these fascist enablers out of business

[tomyummer]

Good! Put back the money you stole!

[Siripon]

Just a publicity stunt by the rich elite of Pheua Thai but it may work with the gullible. -"Look! Pheua Thai are helping the farmers whilst the Democrats are just obstructing them!

[bkkdave1220]

Just a publicity stunt by the rich elite of Pheua Thai but it may work with the gullible. -"Look! Pheua Thai are helping the farmers whilst the Democrats are just obstructing them!

it will help, and it got a lot of airplay on no suthep media as well. All helps!!

as will the educated BKK thai elite who were in the background engaging them in intelligent debate.

Peeeppp sayeth the Suthep

peeeeep peeep peeeep peeeeeep !!! sayeth the flock

[Crushdepth]

Just a publicity stunt by the rich elite of Pheua Thai but it may work with the gullible. -"Look! Pheua Thai are helping the farmers whilst the Democrats are just obstructing them!

it will help, and it got a lot of airplay on no suthep media as well. All helps!!

as will the educated BKK thai elite who were in the background engaging them in intelligent debate.

Peeeppp sayeth the Suthep

peeeeep peeep peeeep peeeeeep !!! sayeth the flock

Since the GSB has cancelled the interbank loan, it can't possibly help. When are you going to rejoin reality?

Sent from somewhere in the Pacific

[noikrit]

The can only withdraw the money once, so they can't do this trick again.

In the meantime, lets release the names of those companies donating to the terrorist protesters so the people can take their trade elsewhere and put these fascist enablers out of business

Let's release the books on this Rice Scam to the public so that the Total Thai Population can see where thier money went , !!!

[JesseFrank]

Pheu Thai core members get booed at GSB bank

BANGKOK: -- A group of core members of the ruling Pheu Thai party got booed at the Government Savings Bank inside Bangkok Tower branch after they went to deposit cash amounted to three million baht to shore up the bank’s shaken liquidity from bank rush.

The executive members of the party went to open deposit accounts after they reached a decision to help the bank by opening deposit accounts.

The party’s advisor Somchai Wongsawat said the meeting of the party members agreed to request all its members to help deposit their money at the bank and also to encourage the people to put their money in the bank to help farmers to compensate the 30 billion baht cash which depositors withdrew yesterday.

The party was concerned that the bank rush to withdraw cash would affect the bank’s liquidity.

Coming to open bank accounts included Bhokin Polakul, Charupong Ruangsuwan, Sompong Amornvivat, Prompong Nopparit, Worawat Uah-apinyakul, Ruangkrai Leekitwatana, and Kanit Bunsuwan.

A total of 10 accounts with 3 million baht in cash were deposited.

During the opening of bank accounts by the Pheu Thai party’s executives, news was quickly spread, prompting many people to get angry and came with whistles to blow and shout at them in front of the tower building.

However, there was no violence and all Pheu Thai members then left under the protection of their guards.

Source: http://englishnews.thaipbs.or.th/pheu-thai-core-members-get-booed-gsb-bank/

-- Thai PBS 2014-02-19

Looks like at least 300 years jail-time in a single picture . By the way did they let the already convicted one, far left in the picture, out of jail for the purpose of depositing his bail money in GSB ?

[JesseFrank]

Good to know that all the money this government stole is deposited in a single bank. Makes it easier for the NACC to confiscate it.

[smileydude]

Just depositing their chump change. Most of their "real" savings is stashed in offshore accounts or hidden under their beds in wads and bundles.

[Stradavarius37]

Thaksin sh$ts, Pheu Thai wipes...

Edited February 19, 2014 by Stradavarius37

[bkkdave1220]

Just a publicity stunt by the rich elite of Pheua Thai but it may work with the gullible. -"Look! Pheua Thai are helping the farmers whilst the Democrats are just obstructing them!

it will help, and it got a lot of airplay on no suthep media as well. All helps!!

as will the educated BKK thai elite who were in the background engaging them in intelligent debate.

Peeeppp sayeth the Suthep

peeeeep peeep peeeep peeeeeep !!! sayeth the flock

Since the GSB has cancelled the interbank loan, it can't possibly help. When are you going to rejoin reality?

Sent from somewhere in the Pacific

Sorry it is difficult to grasp.

The pic is of Government people putting money in a bank that WAS trying to help famers until PDRC scuppered it. Pic and vid also clearly showPDRC people whisling, booing and generally trying to prevent the money going to farmers.

might not affect you, but the imagery is spectacularly good for the Government.

this is how things work in the real world, picture paints 1,000 words etc.

[Stradavarius37]

Just a publicity stunt by the rich elite of Pheua Thai but it may work with the gullible. -"Look! Pheua Thai are helping the farmers whilst the Democrats are just obstructing them!

it will help, and it got a lot of airplay on no suthep media as well. All helps!!

as will the educated BKK thai elite who were in the background engaging them in intelligent debate.

Peeeppp sayeth the Suthep

peeeeep peeep peeeep peeeeeep !!! sayeth the flock

Since the GSB has cancelled the interbank loan, it can't possibly help. When are you going to rejoin reality?

Sent from somewhere in the Pacific

Sorry it is difficult to grasp.

The pic is of Government people putting money in a bank that WAS trying to help famers until PDRC scuppered it. Pic and vid also clearly showPDRC people whisling, booing and generally trying to prevent the money going to farmers.

might not affect you, but the imagery is spectacularly good for the Government.

this is how things work in the real world, picture paints 1,000 words etc.

If you think anything about this entire situation has been "Good" for the government, you are deluded.

[kikoman]

It is a step in the right direction, what needs to be done is the common people move their accounts out of other banks that do not support the farmers and into the GSB a number of our neighbors suggested we do the same, but I moved my account to GBS about 2 weeks ago!

Also I made a personal decision to stop buying Red Bull and Singha beer,and will check what other products owners backed the non-payment to rice farmers.

The run on the banks was in Bangkok and the South, strongholds of the Democrats, all can see who is in favor of non payment!

Cheers

[spirit47]

Pheu Thai core members get booed at GSB bank

BANGKOK: -- A group of core members of the ruling Pheu Thai party got booed at the Government Savings Bank inside Bangkok Tower branch after they went to deposit cash amounted to three million baht to shore up the bank’s shaken liquidity from bank rush.

The executive members of the party went to open deposit accounts after they reached a decision to help the bank by opening deposit accounts.

The party’s advisor Somchai Wongsawat said the meeting of the party members agreed to request all its members to help deposit their money at the bank and also to encourage the people to put their money in the bank to help farmers to compensate the 30 billion baht cash which depositors withdrew yesterday.

The party was concerned that the bank rush to withdraw cash would affect the bank’s liquidity.

Coming to open bank accounts included Bhokin Polakul, Charupong Ruangsuwan, Sompong Amornvivat, Prompong Nopparit, Worawat Uah-apinyakul, Ruangkrai Leekitwatana, and Kanit Bunsuwan.

A total of 10 accounts with 3 million baht in cash were deposited.

During the opening of bank accounts by the Pheu Thai party’s executives, news was quickly spread, prompting many people to get angry and came with whistles to blow and shout at them in front of the tower building.

However, there was no violence and all Pheu Thai members then left under the protection of their guards.

Source: http://englishnews.thaipbs.or.th/pheu-thai-core-members-get-booed-gsb-bank/

-- Thai PBS 2014-02-19

Looks like at least 300 years jail-time in a single picture . By the way did they let the already convicted one, far left in the picture, out of jail for the purpose of depositing his bail money in GSB ?

Thats a real reason to put our money away from this bank...

[SICHONSTEVE]

How can any deposits into the GSB help the farmers, if, as has been stated the loan to the BAAC was to shore up the BAAC liquidity and NOT to pay the farmers ?

Or was it all a lie and the loan (loans, up to 20 billion) was actually to pay the farmers ?

Of course its a lie, when do they EVER tell the truth?

What I can't fathom is why or how this money can help the farmers as the loans to the BAAC have been withdrawn (in full) so the BAAC is not getting any money from the GSB to shore up their liquidity (for that read appease the farmers).

Am I nuts, or does what these politicians are doing make any sense whatsoever?

Confused!! must be Thai logic or something.

[SICHONSTEVE]

It is a step in the right direction, what needs to be done is the common people move their accounts out of other banks that do not support the farmers and into the GSB a number of our neighbors suggested we do the same, but I moved my account to GBS about 2 weeks ago!

Also I made a personal decision to stop buying Red Bull and Singha beer,and will check what other products owners backed the non-payment to rice farmers.

The run on the banks was in Bangkok and the South, strongholds of the Democrats, all can see who is in favor of non payment!

Cheers

Right!!!! just for that, I'm going out to buy 12 bottles of Singha beer (even though I much prefer Leo). Two can play at that game and I am determined to save the Singha Beer Corporation from suffering on account of your dastardly scheming!! I might even buy a crate of Red Bull and distribute amongst our teachers just to spite you and stop you in your tracks with this evil protest of yours!!!

You nasty man!!