Other people's money: Thai bank rescue could signal tougher regulation

Article Abstract:

The Thailand central bank has been criticized for not moving sooner than it did to take over the Bangkok Bank of Commerce (BBC). The BBC, Thailand's ninth largest bank, was taken over by regulators on May 17, 1996. The bank was engaging in making loans to executives and directors, funding questionable corporate acquisitions, allowing overdrafts that were leveraged into land deals that created phantom collateral for further loans, and providing credit for the purchase of BBC shares. Regulators answer critics by noting the weakness of Thai banking laws.

Commercial Banks, Commercial Banking, Banking industry, Investigations, Bank failures, Bangkok Bank of Commerce Ltd.

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Culture vultures: Asian governments exploit the past to press their political agendas

Article Abstract:

Asia's archaeology and history now serve a variety of political and economic purposes yet they are under severe threat and could vanish soon. Some elements are threatened by development, others by vandalism and looting. Funding is made available for the most spectacular but not always the most scientifically valuable sites, in the hopes of building a lucrative tourist trade. Yet those tourists also pose a threat, through their presence if not their malignant acts. In the meantime, governments use history to advance modern agendas.

History, Cover Story, Political aspects, Asia, Archaeology

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Rich are the blessed

Article Abstract:

Thailand's Buddhist monks and monasteries are enjoying a surge of popularity and wealth as a newly enriched middle class seeks spiritual enlightenment and good luck. However, critics say the money and power are corrupting influences, contributing to such events as the downfall of the once-popular Yantra Amaro Bhikku. The monasteries, overwhelmed by the funds, track them poorly and often spend them frivolously. Monks' education in particular is lacking, though some temples have proven clever in marketing and investment.

Economic aspects, Donations, Religious aspects, Buddhism, Buddhist monks

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