By Pooky, this blog economics journalist
Bangkok Bank was started long time ago, by Chin Sophonpanich.
Chin braved a great deal, meaning he is Chinese and back then, Thailand was very anti-Chinese influence in Thailand. That saw Chin escaping Thailand under political pressure-and Bangkok Bank growth, “Mothballed” for many years.
If anyone should have learned a lesson about freedom and prosperity, it should be the Bangkok Bank. But apparently the Bangkok Bank did not learn a thing.
It started with rumors that Bangkok Bank went opening bank accounts to the Yellow Shirt, while they occupied the Thai government House.
That rumor followed the former Bangkok Bank president becoming the Finance Minister of the coup government of 2006. Yes, as rediculous as it seem, a top banker of a top Thai bank-went running the coup government finances.
The Red Shirt, fighting for Democracy and Liberty here in Thailand, got so freaked out by Bangkok Bank’s opening bank accounts in the occupied government house, it started to boycott Bangkok Bank, calling for Red Shirts to “Burn” their Bangkok Bank savings account book.
And many Thais, in deed, burned their Bangkok Bank savings account, after closing their accounts. Look around, member of the Sophonpanich family, is deeply involved with the Democrat Party in Thailand, that is being proped up by the Thai military.
Then it graduated the current Thai Finance Minister, Korn, selecting Bangkok Bank to be a major lender to the massive government borrowing to finance the Thai stimulus-and we are talking billions and billions here.
The picture becomes very clear now, with rumors that member of the Bangkok Bank are somehow involved with a golf course, existing right smack in the middle of a forest, with Prem, the Thai councilor that runs Thailand as a member.
Meanwhile, another major Thai bank, Kasiforn Bank, have seen a family member ditching politics-and resigning from a cabinet position in the current government.
As always, Kasikorn Bank is at the cutting edge in Thailand.