Thai Crisis: Bangkok Bank branches ablaz & ATMs trashed-but the real price is cutting-edge banking

By Pooky, this blog economics journalist

Off course the Sophonpanich family that controls Bangkok Bank is one of Thailand richest and most powerful family in Thailand.

But it got greedy of political power-where in Thailand connection is everything-and thus it sent a family member into the democrat party of Abhist as a rising star MP.

That was not the problem-since everyone does that-but the family wanted a short-cut and when the yellow shirt royalist became a force in Thailand-the democrat aligned itself with the yellow shirt.

Thus Bangkok Bank thus became the main sponsor of the yellow shirt-through the rising political star of the family.

All would have been OK and fair game-but the family crossed ethical and moral lines-when the yellow shirt went to occupy the government house-clearly an illegal act much severe than the Rajprasong sit-in.

The un-ethical act was hammered in hard-and that is in provide financing for that occupation-that with the yellow shirt airport occupation-drove the red government out of office.

In fact, the rising star of the family went to the occupied government house on a regular basis-against stated warrants not to enter.

For all its help-the big fish to catch is off course the billions and billions in financing government projects-and another additional hate factor for the family is that the president of Bangkok Bank is a board member and part owner of the Post group.

But there is no doubt-we are talking billions of richness here and one of the biggest bank in the ASEAN region-meaning what the reds did-was nothing much-or is it?

At Thailand Muslim bank-Singaporean IT specialist are fast installing a package of software that will revolutionize Thailand banking.

The software allows for bank customers to become bankers themselves-like help bring friends in to get a house loan-and take a cut of the loan interest for the duration of the loan.

That type of cutting-edge banking-off course relies on net-work and good community relations and feelings.

By now-Bangkok Bank-being so politicized and hated-a great deal of network is gone-and image?

Well, a great many Thais see Democrat Party as killers and Bangkok Bank-the financier of killers.

Hi, this is Tammy-all this talk about money, power and corruption-strangely is making me very hot and horney. I literally feel like getting laid in a big pile of money.

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