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

[Ricardo]

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

He resigned this morning,

http://www.thaivisa.com/forum/topic/705401-gsb-president-resigns-after-mass-withdrawals/

Worawit said after the meeting that he had handed his resignation to the board to show his responsibility on this matter.

"I took a few days to decide to resign from the post as a result of pressure," he said.

He said there was a level of distrust on whether he was a political tool of the government, running the bank to serve the government's policy. Still, he insisted that lending to the BAAC did not violate any law.

The resignation was to show he was taking responsibility for the massive withdrawals the bank had endured as well as to restore confidence among clients and employees, he said.

[Davidhere]

Pheu Thai Chief Advisor Somchai Wongsawat yesterday visited a GSB branch on Phetchaburi Road and made a deposit of roughly 10 million baht.

30 billion baht worth of withdrawals made on Monday by GSB account holders

.

I went to open an account this morning.

Were you able to make up the 29.99 Billion Baht shortfall by the disgraced and formerly banned PM?

.

Uh oh, might need to open a second account in order to stem the tide.

The money being pulled out by customers has mushroomed from 30 Billion Baht to now 48 Billion Baht over the past two days.

http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5702190010008

.

Edited February 19, 2014 by Davidhere

[SICHONSTEVE]

Pheu Thai Chief Advisor Somchai Wongsawat yesterday visited a GSB branch on Phetchaburi Road and made a deposit of roughly 10 million baht.

30 billion baht worth of withdrawals made on Monday by GSB account holders

.

I went to open an account this morning.

Were you able to make up the 29.99 Billion Baht shortfall by the disgraced and formerly banned PM?

.

Uh oh, might need to open a second account in order to stem the tide.

The money being pulled out by customers has mushroomed from 30 Billion Baht to now 48 Billion Baht over the past two days.

http://thainews.prd.go.th/centerweb/newsen/NewsDetail?NT01_NewsID=WNECO5702190010008

.

Aw c'mon, look on the positive side, it's slowing down now!!!

[zydeco]

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

Do you stand to personally benefit either directly or indirectly from the rice subsidy?

[animatic]

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

Do you stand to personally benefit either directly or indirectly from the rice subsidy?

Soya Sauce IS made from rice. Donchya know

[Ricardo]

what books do you think they have

Three factors that will stand out

quantity of actual rice in storage - how long does it take to accurately verify and how much did they really pay for it

money that has actually been spent on the none existent rice estimated at over 800b with OVER 130b still owed to farmers

and you wonder why they wanted a 2.2trillion baht off budget loan

do any of you honestly think there are books being kept

"do any of you honestly think there are books being kept"

I think they must be in a second-hand book-shop, where every time you return the books, you only get half your initial money back !

[hawker9000]

I wonder what back room deals were made to guarantee these PTP "VIP" deposits.

[MaxLee]

GSB, the only bank where Pheu Thai goonies are lining up for the trough