GSB president resigns after mass withdrawals

[Scamper]

As this latest chapter of the rice scandal takes place, Yingluck and Kittirat are now engaged in a full-frontal war of words, now claiming that the PDRC are the enemies of the farmers. This astonishing assertion would no doubt be news to the legions of farmers who are now walking with the PDRC, and to boot are receiving donations from them. This hate campaign - directed by Yingluck and Kittirat - and directed towards her own people - is obscene, and should be called for what it is - a deceitful and vile betrayal of the public trust by setting Thai people against Thai people, as well as a cowardly and incredulous abdication of any personal responsibility in the mess they've created. For all intents and purposes, however, the rice scandal came to an end this week - not through Kittirat's outrageous unconstitutional machinations to funnel cash ( though that will certainly lead to his impeachment ) - but by the flood of customers withdrawing their life savings. In a very real way - the Thai people themselves pulled the plug on the corruption practices of this administration. They said no in a way only Pheu Thai could understand. With their money.

[BuddyPinkham]

"Farmers are underprivileged and deserve sympathy, just as financial institutions do" He thinks banks deserve the same sympathy as the rice farmers? You can't make this stuff up!

[GeorgeO]

Symbolic resignation only as Worawit is still there, he is said to be acting president for 30 days (according to law ?)

Any bets he will be reinstated after 30 days ?

Only took 2 posts before Suthep got slammed this time, the red loonies are improving, the boss will be pleased.

"the red loonies" ( loony's), So Robby nz, you think the "peaceful protesters" that threw the bomb and blew the leg off a policeman is a loon? how about the one that shot and killed the policeman, is he a loon also?

There is now way that some of these protesters are peaceful mate and who is leading them, The biggest loon of all using farmers as political pawns, first threatening banks if they give loans to the gov for farmers payments then after advice back-flipped and said banks should give loans,

If that ... (loony's) ... was your attempt at an English lesson, then please don't give up your day job!

The protesters is a loon...? There is now way...?! who is leading them, (?)

If you feel competent to try (but fail) to pick someone up on their correct usage of the English language, you should first of all concentrate on your own usage...!!

[thailandbeachisland]

Should we withdraw the money like the Thai ?

[boomerangutang]

I actually respect this guy. He is Thai and he takes responsibility for his actions. Quite rare in this country. He should run for office, they could use someone with his morals.

To add it is refreshing to see someone taking responsibility for his actions i applaud the man.

Huh? Since when do Thai people resign when they make a mistake?

You're all easily fooled. He TENDERED his resignation, he didn't resign. It's window dressing. Plus required to keep the position for 30 days, no matter what. Thais have the memory of canaries. After 5 days, they'll forget about this man, and after 30 days he'll either be bank prez or employed by the Shinawatres. The reason he allowed the loan to the gov't was he was asked by one or both Shinawatres, and he complied. Depositors, by their run on the bank, showed their disgust, so the bank prez tendered his resignation. He's not resigning. It's all showtime. Asians excel at pretending remorse when it's culturally required.

[tilac2]

"tendered his resignation" is not the same as resigning. The bank board will have to decide, and it's likely they will accept the 'loss of face' gesture, and keep him at the helm. This is Thailand: 'Appearances Count More Than Reality'

When I see his youthful face, I think about the thousands of Thais who graduate each year from U. Their parents show up, and are so proud at the graduation ceremony - particularly if it's a degree dealing with 'Economics/Finances' or 'bank management' - because 'money is God' in Thailand. It's only later that the parents, or anyone else who's paying attention, realize that a U degree has nothing to do with making wise decisions. Getting a U degree, basically means showing up for class, and sitting in a chair facing the front of the room for the required amount of hours. The teacher could be a complete dunce talking in tongues, and it wouldn't make a whit of difference. If you don't agree, try having a conversation in English with a Thai U graduate.

Here are some Americans who never got a College or U degree: Ben Franklin, Steve Jobs, Bill Gates.

Here is one who did get a business degree: Bernie Madoff

You present an appalling generalization of the Thai University system, based on what? Propagating another "urban farang myth:?

There are good, bad and some middle ground universities here. Guess what - that's the same in the UK, USA and Australia too. Shock horror.

I've tried having a conversation in English with Master's graduates from Australian universities and they can't speak or write English correctly. A language needs to be constantly practiced or the skills deteriorate quickly.

The Thai MOE are much stricter on uni's course assessments and lecturer quality than you portray.

Yes, many criminals went to universities and many self made very successful people never had the opportunity or dropped out. So what?

True. I know a criminal that went to university and made himself very rich through his qualifications. The Doctorate he took proved invaluable to him - I believe it was in 'criminology'!!!

I'm sure there must be some logic in there somewhere - can you point out the word that makes sense!!!

[tilac2]

As this latest chapter of the rice scandal takes place, Yingluck and Kittirat are now engaged in a full-frontal war of words, now claiming that the PDRC are the enemies of the farmers. This astonishing assertion would no doubt be news to the legions of farmers who are now walking with the PDRC, and to boot are receiving donations from them. This hate campaign - directed by Yingluck and Kittirat - and directed towards her own people - is obscene, and should be called for what it is - a deceitful and vile betrayal of the public trust by setting Thai people against Thai people, as well as a cowardly and incredulous abdication of any personal responsibility in the mess they've created. For all intents and purposes, however, the rice scandal came to an end this week - not through Kittirat's outrageous unconstitutional machinations to funnel cash ( though that will certainly lead to his impeachment ) - but by the flood of customers withdrawing their life savings. In a very real way - the Thai people themselves pulled the plug on the corruption practices of this administration. They said no in a way only Pheu Thai could understand. With their money.

This campaign of hatred, directed by Suthep and his plutocrat and military backers against the elected government and the Thai people, is indeed obscene.

[tilac2]

I hope this has open the eyes of the farmers to who is their friend. Suthep is two face, he has his people withdraw the money from the bank in the south while he often a mere 25 million baht for legal fees for farmers. I wonder how much money was pockets from his march on Silom the other day.

Can't accuse you of being two faced or you wouldnt be wearing the one you have!

Suthep isn't two-faced. He has only one face, and that face if the face of the Bangkok-centered, Thai elite who are so enraged that they've lost control of their country to simple, country-folk from the north through the vote they are now willing to bring down the popularly-elected government my any means possible. I assume Suthep will just continue to thwart all efforts of the caretaker government to conduct state business and escalate the violence in the protests which is aimed to provoke the government into taking police action to restore law and order until the violence escalates sufficiently to justify another military coup.

These people know they can't regain control via the ballot box so will resort to any means possible.

Unfortunately I see a long term of unrest for Thailand...

Good post Billsmart!

Sadly, unrest is indeed likely.

This mess has all been so predictable. The so-called sophisticated Bangkokians have been calling the people of the north and northeast names like "cheuy" (unsophisticated hicks) or "chao baan" (rubes) for years. Then the Generals arranged a coup in 2006 and election wins have been withheld from the majority in other ways ever since. Legal reasons are cited, but behind those are blind prejudice: 'the rubes are too stupid to vote', 'their votes are bought', 'they are Laos, not Thais', etc etc.

I'd say that none of these actions and insults and accusations are the best ways to bring a country together. Surely, if a political party can't win elections, the leaders should change policies or strategy or make alliances, so they CAN win! They shouldn't abandon democracy by encouraging coups, or changing the rules, or trying every other trick and insult in the book to disenfranchise the people!

Unless, that is, they are willing to foment civil war.

The Bangkokian elite and their stooge Suthep with his southern supporters are playing a dangerous and foolish game by antagonising half the population.

[SICHONSTEVE]

"tendered his resignation" is not the same as resigning. The bank board will have to decide, and it's likely they will accept the 'loss of face' gesture, and keep him at the helm. This is Thailand: 'Appearances Count More Than Reality'

When I see his youthful face, I think about the thousands of Thais who graduate each year from U. Their parents show up, and are so proud at the graduation ceremony - particularly if it's a degree dealing with 'Economics/Finances' or 'bank management' - because 'money is God' in Thailand. It's only later that the parents, or anyone else who's paying attention, realize that a U degree has nothing to do with making wise decisions. Getting a U degree, basically means showing up for class, and sitting in a chair facing the front of the room for the required amount of hours. The teacher could be a complete dunce talking in tongues, and it wouldn't make a whit of difference. If you don't agree, try having a conversation in English with a Thai U graduate.

Here are some Americans who never got a College or U degree: Ben Franklin, Steve Jobs, Bill Gates.

Here is one who did get a business degree: Bernie Madoff

You present an appalling generalization of the Thai University system, based on what? Propagating another "urban farang myth:?

There are good, bad and some middle ground universities here. Guess what - that's the same in the UK, USA and Australia too. Shock horror.

I've tried having a conversation in English with Master's graduates from Australian universities and they can't speak or write English correctly. A language needs to be constantly practiced or the skills deteriorate quickly.

The Thai MOE are much stricter on uni's course assessments and lecturer quality than you portray.

Yes, many criminals went to universities and many self made very successful people never had the opportunity or dropped out. So what?

True. I know a criminal that went to university and made himself very rich through his qualifications. The Doctorate he took proved invaluable to him - I believe it was in 'criminology'!!!

I'm sure there must be some logic in there somewhere - can you point out the word that makes sense!!!

Getting a bit tetchy are we!!!

I am referring to Thaksin Shinawatra - not that you could bring yourself to realise this!!!!

[DekDaeng]

I did the same maths Tom.

Whew. For a second there I thought my government issued tablet was malfunctioning.

Wouldn't 'functioning' be mention worthy?

[Ricardo]

As this latest chapter of the rice scandal takes place, Yingluck and Kittirat are now engaged in a full-frontal war of words, now claiming that the PDRC are the enemies of the farmers. This astonishing assertion would no doubt be news to the legions of farmers who are now walking with the PDRC, and to boot are receiving donations from them. This hate campaign - directed by Yingluck and Kittirat - and directed towards her own people - is obscene, and should be called for what it is - a deceitful and vile betrayal of the public trust by setting Thai people against Thai people, as well as a cowardly and incredulous abdication of any personal responsibility in the mess they've created. For all intents and purposes, however, the rice scandal came to an end this week - not through Kittirat's outrageous unconstitutional machinations to funnel cash ( though that will certainly lead to his impeachment ) - but by the flood of customers withdrawing their life savings. In a very real way - the Thai people themselves pulled the plug on the corruption practices of this administration. They said no in a way only Pheu Thai could understand. With their money.

This campaign of hatred, directed by Suthep and his plutocrat and military backers against the elected government and the Thai people, is indeed obscene.

"against the elected government"

I must have missed, when the EC declared the results of the recent election, and a new government was legally formed ?

Surely the current administration is only an unelected caretaker one ?

[SICHONSTEVE]

As this latest chapter of the rice scandal takes place, Yingluck and Kittirat are now engaged in a full-frontal war of words, now claiming that the PDRC are the enemies of the farmers. This astonishing assertion would no doubt be news to the legions of farmers who are now walking with the PDRC, and to boot are receiving donations from them. This hate campaign - directed by Yingluck and Kittirat - and directed towards her own people - is obscene, and should be called for what it is - a deceitful and vile betrayal of the public trust by setting Thai people against Thai people, as well as a cowardly and incredulous abdication of any personal responsibility in the mess they've created. For all intents and purposes, however, the rice scandal came to an end this week - not through Kittirat's outrageous unconstitutional machinations to funnel cash ( though that will certainly lead to his impeachment ) - but by the flood of customers withdrawing their life savings. In a very real way - the Thai people themselves pulled the plug on the corruption practices of this administration. They said no in a way only Pheu Thai could understand. With their money.

This campaign of hatred, directed by Suthep and his plutocrat and military backers against the elected government and the Thai people, is indeed obscene.

"against the elected government"

I must have missed, when the EC declared the results of the recent election, and a new government was legally formed ?

Surely the current administration is only an unelected caretaker one ?

Correct, this (caretaker) government is no longer in power and the previous elections are for the history books only now!!

The only election that counts is the ongoing one and that will never be completed as the conditions do not allow for it.

[hawker9000]

As this latest chapter of the rice scandal takes place, Yingluck and Kittirat are now engaged in a full-frontal war of words, now claiming that the PDRC are the enemies of the farmers. This astonishing assertion would no doubt be news to the legions of farmers who are now walking with the PDRC, and to boot are receiving donations from them. This hate campaign - directed by Yingluck and Kittirat - and directed towards her own people - is obscene, and should be called for what it is - a deceitful and vile betrayal of the public trust by setting Thai people against Thai people, as well as a cowardly and incredulous abdication of any personal responsibility in the mess they've created. For all intents and purposes, however, the rice scandal came to an end this week - not through Kittirat's outrageous unconstitutional machinations to funnel cash ( though that will certainly lead to his impeachment ) - but by the flood of customers withdrawing their life savings. In a very real way - the Thai people themselves pulled the plug on the corruption practices of this administration. They said no in a way only Pheu Thai could understand. With their money.

This campaign of hatred, directed by Suthep and his plutocrat and military backers against the elected government and the Thai people, is indeed obscene.

Uh, so political opposition is obscene? You must be on loan to the shin-rouge from that fat boy in N. Korea. They're pretty hard on political opposition there too I hear.

Ever notice how the more dire a lost cause gets, the more aggressive their claims that THEIR views are the TRUE views of "the people"? The more incriminating the facts & circumstances against the embattled incumbents, the more everyone who opposes them is misled or a "backer" or a "hater", and the opposition views are misguided or uninformed or "obscene". Here, you're expected to realize that THIS guy has his finger on the pulse of the masses, and HE apart from ALL others who might disagree with him knows & represents the true popular will (which, by the way, can't be divided and is 100% as HE says it is)!

A "campaign of hatred"? "Plutocrat and military backers"? "Obscene"? Wow, 'talk about a messiah complex...

[kannot]

The Commerce Ministry was able to sell 600,000 tones of rice for Bt20 billion? Did I do my math wrong? That's 33,333 thb per ton? Market price is roughly half that or less?! Please explain!!

sold to a "Mr Nik Nak @ Fantasy Island"