Senators to fight FIDF debt switch

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Senators to fight FIDF debt switch

Petition seeks ruling on legality of decree

Published: 28/01/2012 at 04:08 AM
Newspaper section: News

A group of senators will file a court challenge against the government's transfer of financial crisis bailout debt to the Financial Institutions Development Fund next week.

Kamnoon: Principle must be observed

Sen Kamnoon Sidhisamarn said a petition would be filed to the Senate speaker to seek a ruling on the legality of the emergency decree authorising the debt transfer passed yesterday.

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Writer: Aekarach Sattaburuth and Parista Yuthamanop

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ggh
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Discussion 4 : 28/01/2012 at 10:09 AM4
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By some groups in society, last years flooding has been proclaimed to be only a natural disaster. To prevent this type of disaster in the future, budgeting must be available to implement flood prevention projects. For the victims of last years flooding, I am certain this is considered an emergency priority.
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bkposter
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Discussion 3 : 28/01/2012 at 10:09 AM3
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RE: D2.... it is only an emergency when you are standing in 2 meters of water...As you know these projects take years to complete and a comprehensive water management plan would take a decade or more and cost over 100 billion. If there is another heavy rainy season there will be flooding again next year.....what would you say then? that the government should have acted and declared an emergency decree to pay for the project? Should they spend the money on this or more blimps and submarines?
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whatajoke
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Discussion 2 : 28/01/2012 at 08:12 AM2
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This is absolutely the right thing to do. If the govt can so easily use 'an emergency decree' to bypass parliamentary debate on such a critical issue (we're all going to paying back this, and the new debt for decades), then why bother having a parliament? The Senate's job is to check these actions, asking whether it really is an 'emergency' or simply an abuse of priviledge to force through a controversial measure with hidden agenda attached. It's irrelevant who gets to pay it off, since it's one and the same group, nor who caused the debt. What's important is; how much more debt are we creating and shouldn't it be open to public scrutiny and debate first, since there is no real 'emergency'.
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ggh
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Discussion 1 : 28/01/2012 at 06:03 AM1
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uncontrolled financing by financial firms where largely responsible for the 97 crisis. So why is it wrong to hold banks and other financial firms more accountable for debt created partially by these firms?
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Senators to fight FIDF debt switch | Bangkok Post: news