Thai banks still cleaning up the wreckage of 1997

Analysis - Thai banks still cleaning up the wreckage of 1997 - Asia Pulse, August 11, 2005
...And so the lending goes on and consumer debt keeps piling up, despite warnings and curbs from the central bank. As Paul Krugman told his audience in Bangkok, "unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful".