The Supreme Court verdict spells it out clearly - Thaksin was inept at enriching himself and family, and he failed to learn the proper lessons from older, wiser, predecessors:
Bloomberg:
Shin shares gained 121 percent from when Thaksin took office on Feb. 9, 2001, to when his family sold the company on Jan. 23, 2006, compared with a 128 percent gain in the benchmark SET index, according to data compiled by Bloomberg. Siam Cement Pcl, Thailand’s fourth-biggest company, which is controlled by the monarchy’s investment arm, gained 717 percent in that time.
“Whether Thaksin used his influence to benefit his companies is for the courts to decide,” said Vikas Kawatra, head of institutional broking at Kim Eng Securities (Thailand) Pcl, the nation’s biggest brokerage by trading volume. “We analyze the stocks on fundamentals and price movements and based on past performance versus the SET it appears his companies performed no better than others in the benchmark.”
Apart from the courts attempt to legitimize the coup, I am basically happy with the financial aspects of the verdict as it (purportedly) returns to the Thaksin clan an amount that in my view, considering the totality of their business lives, they 'might' have 'earned' legitimately.
In my dream world, the verdict will encourage investigative research by journalists, and activists, into all the business dealings of public office holders, not only politicians, but police, military, bureaucrats and other office holders (both elected, and appointed:)
Update: Or I should say I would be happy with the verdict if I knew the precedents would be consistently applied to all.
There also seems to be considerable doubt about whether anything will actually be returned to the clan, and perhaps this verdict was just a stalling measure to provide a gloss of 'fairness' when he real intention is to grab the remainder with other court actions over time.
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14 comments:
Hobby, like you, I hope this is the much needed opening up of the "pandora's box".
Many will say, this is not going to happen.
I am a bit saddened this morning to read and hear the Red/UDD groups going back into the "trenches", where once again their focus is on the issues of one man rather than the plight of the people they say they are fighting for.
Perhaps it is early days and all they are doing is allowing for some face saving?
What do you think ?
I think the reds are a very diverse group, and its clear that some appear blinded by thier love of one man (who admittedly did deliver to them, unlike any before).
For others its more about real democracy and eliminating the obvious double standard.
Overall the court verdict was just another battle in a long war, and the problems are all still there.
I have lost any hope that the yellows will make things better, so I would prefer to at least see the reds keep highlighting the double standards, build their grassroots networks, win the next election, and then govern to make a fairer society with everyone subject to the same rule of law.
(and of course, less emphasis on one man:)
All very well, to "wish" for the scenario you present.
A real people's movement forming a party, with real policies and sustainable programs, to help the people (and not line the pollies pockets)would be the best thing for all Thais.
But, you know and I know, in reality as long as Thaksin is in the "game", this is not possible.
If the Thai people install (by popular vote) the PT, backed by the "fractuos" UDD/Reds/Thaksin lovers groups, all that will happen, is, one lot of elites will be surplanted by another - and to me even less attractive - group of elites.
To know what I am saying, just think back to those years when Thaksin and TRT were at their peak (early 2000s).
Whilst they might have thrown a few (needed, but unsustainable) social trinkets out, they were also building an alternative "elite" group.
You also must recall how they were winding back so many of the major tenents of true democracy which the country had managed to attain over the previous 60+ years. And before you say it, I accept those democratic freedoms were not as many, as they should have been.
Do you think they have "learnt their lesson" ?
It would seem maybe some in the present government have.
And, maybe yesterday's decsion was also an indication that the courts will from now on, act as courts should do in a proper democracy.
Time will tell on that, I guess.
But, more importantly, do you think the man a large number, still want to be their leader has changed his ways and has somehow seen the "light on the hill" towards democracy for ALL Thais ?
Judging by the statements he has made since the verdict, it would seem, all he wants now is revenge.
As for the leaders of the Red shirts - you tell me ?
I will say there are some in the PT who are realstic enough to know when to change course - even if in a large part, those "consiliatory" words are mostly coming from Chalerm.
I prefer to think for now, if things can stay calm, this will have been a great day for Thailand.
But, I am also realistic enough not to hold my breath.
TRT was the first real political party in Thailand - it had a policy platform and it implemented it.
I think the real problem in Thailand is not Thaksin - it lies elsewhere IMO.
Sure Thaksin was a rogue, but he's no worse than any of the others, and at least he had a democratic mandate.
He was only able to rise to such prominence because of the steady diet of hero worship the people have been fed over the last 60 years.
Also there has been a considerable 'eye-opening' since Thaksin was last in power - I do not expect the the people would allow him to get away with a hijacking of democracy now that they have more information at hand.
Sadly, they are unable to access & discuss a lot of other important information.
For instance, don't you think all Thai's should be able to discuss in public the 'network' and articles such as this?
This is about Thaksin, not "fredom of speech" as such, so I will not comment more for the sake of you being able to maintain your blog unhindered. But, I will say, I do not like censorship.
Yes, there are plenty of other rogues in Thailand's "ruling" classes - on both sides.
I don't have an argument with you on that.
Further,as said earlier, I hope yesterday's verdict, is just the start.
However, I have just read a "breakig news" story on the Bangkok Post website with Thaksin saying :"However, the ex-premier called on his supporters to refrain from moving to help him but to use peaceful means to bring back true democracy and to resolve problem of injustice in the country."
This was read out by that real beacon of hipocracy...err, sorry democracy, Noppadon Pattama.
What hope does the average Thai person have when once again, all their "supposed leader" does is talk about himself.
Sure he mentions a desire for "true democracy" and "justice".
But when you sit down and analyse that in the context of events, it has little to do with the average Thai - but it sounds good.
Just like you say TRT had policies. True. So did the Democrats. TRT knew how to sell them. The Democrats didn't - some would say, they still don't.
But when you looked under the hood, they were in the main just cheap tricks and re-branding of existing programs.
Still, that they resonated with the voters was a good thing. It made many appreciate voting for politicians can have benefits beyond a few hundred Baht at election time.
If the "non" government supporters - of which there appears to be a large number of, in the middle - could organize themselves into a true "people's movement" in Thailand, without such a charismatic and corrupt band of leaders aroudn them, I know Thailand would go forward at a great rate of knotts.
But, that's easier said than done.
So I suggest, be a little bit patient, before jumping on to the other ship, because it's painted in pretty colours - there's more to running a country than that.
GeGee: A question for you: - should the military be answerable to the government (elected by the people), or some other authority?
sorry GeGee, my question was a follow up to my previous post - I did not see that you had already responded to it.
I think we are close on these matters - you just choose to still focus on Thaksin, whereas I have switched to other matters that happen to annoy me more.
yes, we are very close in thought. But I believe until the Thaksin factor has been taken out of the equation, it is almost impossible to move forward and on to those other issues.
Regarding the Military, in all effictive democracies they are responsible to the government of the day. I believe this is right and proper.
I also hope you have read Tulsi's comments. As I am not on your list of people you follow (Twitter) you might not have received it.
http://www.nationmultimedia.com/home/2010/02/27/columnists/Yes-Mr-Thaksin-you-were-too-stubborn-30123605.html
Thanks for that - I had seen it as I started following Tulsie yesterday.
I was not aware you are on Twitter -will try to find you now & follow.
Could not find GeGee
Not that I have a lot to say compared to you and/or BP.
But as Tulsi did such a good job yesterday - amazing he kept at translalting for almost the eintire 7 hours - he showed how effective Twitter is becoming when it comes to getting the message out.
As all know Thaksin has been using it for some time for "propaganda" purposes and has shown what can be done in that arena. But, Tulsi showed how it can be great for journo/news too.
Could not find GeGee
Try blandda
Agree about Tulsie twittering.
btw, Looks like you are much more prolific than me:)
hobby said...
Agree about Tulsie twittering.
btw, Looks like you are much more prolific than me:)
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