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Posts posted by losworld

  1. I'm very concerned. After spending some time in various bars it has come to my attention through conversations with girls from Isaan that there is some type of mysterious illness effecting great populations of buffalo in northern Thailand. Many farang have provided financial assistance to buy medicine, whiskey, tv's, etc. to families of the sick buffalo but it appears they become infected again soon after. Therefore I am urging the Thai government to launch an official investigation into the virus effecting the buffalo. Stop the carnage! SAVE THE BUFFALO!!!!!!!!!! :o

  2. Very good point,49.7 baht to the gbp is reducing tourists coming to Thailand
    Nothing to do with the Thai Baht, has more to do with the steady decline of the GBP ever since WWII compared to all other major currencies (although accelerated the last few months).

    Okay a step in the right direction. Isn't changing the border run extension from 30 to 15 days looking stupid right now? With this world economy they should be happy to have anyone with a few hundred bucks to spend.

  3. Sorry but I have to post to restore some sanity to this forum. I'm not sure if some members are shareholders at BEAFEATERS but I tried their tex mex buffet on the recommendation of this board and IT SUCKS!

    For 250 baht there were a few overcooked dry ribs, a plate of salad, cooked hamburger, taco shells and a few chips. What a joke. I can get this type of meal in any western city for less based on taste and value.

    My advice Beafeater's buffet sucks and my gal's seafood salad was overpriced.

    I'll stay clear of there next time.

    Did you see the Texas Chili, African Chili, beef chunk chili, cold roast beef, sour cream, potato salad, stuffed potato skins, barbecued chicken, salsa fresca, jalapenos, grated cheese or tomato pesto salad?

    I'm sure there are other things, I just can't remember them all.

    Of everything you mentioned I saw only stuffed potato skins and potato salad. Either they've cut back or its just plain sloppy management as I was there later in the afternoon but still within the hours of the buffet. They still dinged me 250 baht and another 200 baht for my gal's salad. I'm not complaining about paying 500 but I could have forked out a few more hundred and we both could have had a much better buffet or meal elsewhere... very disappointing.

    I can get a better buffet in the U.S. for cheaper.

  4. Sorry but I have to post to restore some sanity to this forum. I'm not sure if some members are shareholders at BEAFEATERS but I tried their tex mex buffet on the recommendation of this board and IT SUCKS!

    For 250 baht there were a few overcooked dry ribs, a plate of salad, cooked hamburger, taco shells and a few chips. What a joke. I can get this type of meal in any western city for less based on taste and value.

    My advice Beafeater's buffet sucks and my gal's seafood salad was overpriced.

    I'll stay clear of there next time.

  5. There may be more to this than meets the eye. I find it interesting that this happened right around the time of the "million jobs threatened" release.

    This may very well be a calculated move to show Thais that Farangs will not be allowed to take your jobs in tough times. However, in my opinion Farangs take very few jobs that could be filled by Thais. They are only allowed into jobs that are in strong demand.

    Unfortunately with the downturn in the world economy I see the elite of Thailand and other countries blaming the westerners for many of their problems. This serves as a way to distract attention from themselves and continue their self interest.

    I think there is a strong possibility there may be ulterior motives behind this action. Given the recent airport dilemma, political unrest and negative press coverage it is just too dumb a thing to do based on initial observations. Thoughts?

  6. I am scheduled to leave for my 80 day vacation in Thailand on Tuesday the 9th after rescheduling twice due to airport closure. I had planned to renew my 30 day visa with trips to Angkor Wat and Laos. I went online today and discovered that I cannot renew for 30 days but rather 15 days. I am seriously considering canceling my trip and my 15k budget will go elsewhere. I am not a backpacker. I am a college educated professional male. And what if I was a backpacker?

    I can't overemphasize how foolish this move is by the Thai gov't. With tourism reeling they pull something like this out of the blue.

    I am seriously considering canceling my Thai vacation and rescheduling to either the Philippines or Mexico.

    I really do not understand this lack of judgment by the Thai government.

  7. I see visions of Thaksin dancing to "Viva La Vida". I think his game is over. How could anyone think that opponents of Thaksin could digest the appointment of his brother in law? Who could not see this coming?

    As per urban vs. rural this has existed virtually everywhere I have seen elected governments. I'm not saying that Isaan and the north do not deserve better representation but at what price - vote buying?

    Obviously the PAD have very strong convictions. We can debate endlessly on their true motivations but when it comes to standing in the face of fire I believe they really want Thaksin out. In a strange way this is about standing up to the perceived abuse of the elite and whether or not Thaksin admits it he has become the poster boy for the corrupt aristocrat operating above the law.

    Interestingly, if this had taken place in virtually any "democratic" country the protesters would have been shot dead at the gates and labeled terrorists as business is business. This speaks volumes for the hearts and minds of the Thai people.

    Somchai must accept the inevitable before violence errupts. The PPP should then demand the extradition and arrest of Thaksin and call an election.

  8. If they were smart they would have imposed a state of emergency when they took the Parliament building. Now they are in a tough spot with protesters at the airport. I don't see a peaceful solution at the airport. I only see three reasonable options: 1) PM steps down 2) King appeals for election 3) military coup. At this stage I think it will be a military coup if people are killed at the airports. I'd say 3-6 months of military rule and an election is held. The military leader is pretty smart and I'm sure that even if he wanted power, which I don't think he does, no one in their right mind would really want to govern with the falling economy. PAD should remember that governments don't get elected as much as they get defeated and with the falling economy the current government will be doomed soon enough.

    I really do believe this is a knee jerk reaction to what I consider the most irresponsible and reprehensible act imaginable which was the selection of Thaksin's brother in law as leader. In a land of face nothing could be more insulting and divisive to the country than this move. Now everyone must suffer the consequences of Thaksin's foolishness and his party's subservience.

    I hope for a quick resignation and a call for an election prior to a military coup. PAD would be wisest to insist on the PM's resignation and let the new leader try to clean up the mess.

  9. BANGKOK AIRPORT UPDATE - okay I spoke with my airline today regarding moving a flight to Thailand and they assured me that the airport will be OPEN ON NOV 28. They insisted that the government had told them this information so I would interpret this as by negotiation or force if necessary. I hope I am right about the former and this gets peaceably settled via an election or a resignation.

    I still moved my flight until later as I am not completely confident this will be settled in that time frame.

    Just posting the update.

  10. This is really a slap in the face for the Thai people and democracy in general. While I do not condone overthrowing any government I certainly do understand the frustration of the Thai people in trying to eliminate the Thaksin era. Thaksin, minus corruption charges, etc., had the potential to be truly respected and recognized as a positive force particularly for building the Thai economy and infrastructure but he chose another route and one that put family and friends above the good of the public. Now he reigns from outside the country while arrest warrants exist here. If ever there was a good reason for a coup or an overthrow I am afraid it has been put forward on a golden plate. Now we will see if the Thai people can digest this regurgitated excuse for leadership. I doubt they can.

  11. Why is Paulson involved in this?

    Although he may not be a teenager, blank check to trillions, I don't think so. These kind of things establish policies, it may not be Paulson using that check next time.

    Banks are failing in the US OK that's happened before, what does that really mean unless you have more the a 100K in an account your safe. When they fail the Feds take them over they don't stop existing.

    Yes Freddie and Fannie are important but they are also businesses, when I had business that failed I took the loss, not my next door nieghbor through his taxes.

    Give them access to better borrowing OK, blank check for a bail out no way.

    There are things that these businesses can do to reduce thier loses, if they are really in that bad of shape. They ceated it they should fix it.

    Values of housing down nothing new about that, they were over valued in the first place. Really a normal correction in the market.

    What can they do, reduce the interest amount and recover as much as they can. Who hasn't had a buiness and nogoiated on a bill in troubled times.

    If you owe more on the house then it's worth you ride it out till the market comes back, it will. What's messing that up variable rate loans, instead of seeing a break in bad times the interest rates are increased leaving people without enough to make the house payment. Can someone explain to me why when loan rates on the commercial levels are down why are individual rates being raised. Personally I think we are trying to get money to investors. Well the last I Time I looked the Stock Market doesn't go up all the time it has down turns. You want to play you might pay, you might make a bunch of money.

    I have never been in the market simply because I don't understand it. So that means I have never made a dime from that. So why should I be paying for thier screw ups. Were they going to give me part of thier profits I doubt that.

    In any business I have been in if thing went bad you get innovative and work through it, for those good times again. Thats just business. If profits were guaranteed every time why would anyone have a job and listen to a grouchy boss.

    I'm sorry these busnesses need to get innovative and work thier way through this. Uncle has enough problems of his own deal with. Don't increase the rates and if you have to go interest free for awhile till this works it's way through, well that is just life Will the investors take a hit Yep. But they choose to play the game and knew going in they could suffer a loss.

    Banks really don't want the properties they lose big time on that, the values go down and the properties are subject to damage, that need to be repaired not a good deal. Investors still don't get money. This mentality gets you the same thing we have seen in Thailand for years, Bank takes the property back carries it and try to sale it at the loan value which was inflated in the first place. Result builder gets his money out of the loan. The property is over priced for the market, doesnt move. Carried as a NPL forever here. Just doesn't work

    Lawmakers Balk at Paulson's Fannie, Freddie Plan (Update1)

    By Dawn Kopecki and Craig Torres

    July 15 (Bloomberg) -- Lawmakers balked at giving Treasury Secretary Henry Paulson unprecedented power to use government funds to rescue Fannie Mae and Freddie Mac, the U.S. mortgage- finance companies grappling with a collapse of confidence.

    ``I'm uneasy about giving this blanket authority without having any kind of checks,'' Senate Banking Committee Chairman Christopher Dodd said in a Bloomberg Television interview after a hearing his panel held today. Senator Richard Shelby, the committee's top Republican, told reporters ``I've never known Congress'' to give ``an open-ended blank check for somebody to fill in.''

    The skepticism forced Paulson to stress he would protect taxpayer funds and assert his authority over Fannie and Freddie, the biggest sources of U.S. home financing, in case of a government intervention. Federal Reserve Chairman Ben S. Bernanke said Paulson would have the right to overhaul the companies' management under the Bush administration's proposals.

    Today's hearing indicates Congress may not approve a plan to provide a backstop for the companies this week, as Paulson had counted on when he announced his rescue package July 13. Shares of the companies dropped and bondholders demanded higher premiums on their debt.

    Drop in Stocks

    Fannie Mae slid 27 percent, its biggest drop since at least 1980, to $7.07 in New York Stock Exchange composite trading, bringing its slump in the past week to 60 percent. Freddie Mac fell 26 percent to $5.26, and is down 61 percent from a week ago.

    Paulson repeatedly said he had no intention of using the authority to buy unlimited equity in Fannie Mae and Freddie Mac, and the proposal was aimed instead at bolstering confidence in the firms so such emergency action wouldn't be needed.

    ``When you're dealing with the taxpayer's money I don't think ambiguity has a place,'' Shelby, of Alabama, told reporters after the hearing, which featured Paulson, Bernanke and Securities and Exchange Commission Chairman Christopher Cox. ``We are potentially layering taxpayer resources on top of massive systemic risk,'' Shelby said at the hearing.

    Dodd's reaction was a sharp contrast with that of his counterpart in the House, who yesterday said he was comfortable with giving Paulson power to use unlimited funds.

    Not a `Teenager'

    ``I trust him,'' Democratic Representative Barney Frank of Massachusetts, the chairman of the House Financial Services Committee, said in an interview with Bloomberg Television yesterday. ``This is not some irresponsible teenager.''

    Republicans in the House today said they want to postpone consideration of the proposals because they haven't had enough time to vet them.

    House Minority Leader John Boehner, along with No. 2 Republican Roy Blunt, said in a joint statement today that Democrats ought to hold hearings on the plan so lawmakers can get a better understanding of how it would work and how much it would cost.

    ``There is little question that action is necessary, but there are also important questions that must be answered,'' they said. ``It would be irresponsible for Congress to provide the proposed new authority without due diligence on the mechanics of the Treasury proposal and its potential implications for taxpayers.''

    Bipartisan Reaction

    In the Senate today, Paulson found skepticism on both sides of the aisle.

    Democratic Senator Jon Tester of Montana demanded that Paulson detail in writing the consequences for the economy if Congress doesn't act to help Fannie Mae and Freddie Mac.

    ``It could be a trillion bucks'' that Paulson could appropriate under his proposed authority, Tester said.

    Paulson, appointed by Republican President George W. Bush, received the most hostile reception from other Republicans.

    ``The taxpayers have reacted and the market has reacted to your plan by driving down Fannie Mae shares 26 percent today, right now,'' said Senator Jim Bunning, a Kentucky Republican. ``Freddie Mac's are down 29 percent at this moment, just in case you are interested in how the markets are reacting to your wonderful plan.''

    Bunning pledged to oppose the measure, indicating the Senate may need 60 votes to enact it, rather than a simple majority. A single senator can block legislation unless 60 other members vote to stop his so-called filibuster.

    `Essential' Role

    Bernanke told lawmakers it's ``important'' for Fannie Mae and Freddie Mac bonds and stocks to rise so they can keep raising capital and aid the mortgage market. Paulson said the two companies are ``essential'' because they represent the only ``functioning'' part of the home loan market. The firms own or guarantee about half of the $12 trillion in U.S. mortgages.

    The extra yield investors demand to buy Fannie Mae's five- year debt over U.S. Treasuries with a similar maturity rose 5.2 basis points to 85.2 basis points today, compared with 64 basis points two months ago, according to Bloomberg data. Spreads on five-year Freddie Mac notes widened to 85.3 basis points, from 66 basis points in mid-May.

    The Treasury chief's proposals also included unlimited lines of credit for the companies and bringing the Fed into a ``consultative'' role over the firms' capital.

    Dodd, a Connecticut Democrat, said he was ``uneasy about what we're trying to achieve here'' by bringing the Fed into some supervisory role.

    Dodd said he planned to work with other lawmakers on the committee in coming days on some sort of measure, because ``inaction is not an option.'' He said some plan would probably be attached to an existing bill that's aimed at stemming foreclosures and setting up a stronger regulator for Fannie Mae and Freddie Mac.

    To contact the reporter on this story: Dawn Kopecki in Washington at [email protected]; Craig Torres in Washington at [email protected]

    Last Updated: July 15, 2008 16:54 EDT

    Fannie and Freddie are at the crux of the U.S. housing market problems and gave unscrupulous lenders ammunition to provide false loans. Who in their right mind would allow such mismanaged, unregulated and irresponsible organizations like this to take endless transfers of bad loans - the corrupt U.S. gov't of course! A recipe for disaster and it's now baking at 500 F. The only thing worse will be a public bailout to the tune of hundreds of billions. Look who's running the show in the U.S. - Paulson and all his cronies from Goldman Sachs. Wall Street owns Washington and its monkey politicians just like the London Exchange owns England and its people.

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