The sign reads: Who? [does these things?]
Helps the rich: Lost 800 billion baht from FSRA
[And] Blocks helping the poor: 130 billion baht for the rice farmers
[The Financial Sector Restructuring Authority (FSRA), was set up as an independent organization by the Chavalit Yongchaiyuth government in 1997 after the currency crisis. FSRA’s main purpose was to manage assets of the 56 financial institutions which closed during the crisis. The value of their total debts were around 800 billion baht.
During the next government (the Democrat-led Chuan government), the debt was sold to foreign investors via auction for 190 billion baht. The much lower price was due to the sloppy lending practices of the 56 financial institutions. Thus, most of the debts became bad debts with a much lower value.
The poster refers to the struggle the government has undergone to borrow money from financial institutions including the Government Saving Bank and the Social Security Fund in order to pay for the rice mortgaged by farmers under the government rice mortgage scheme. Those who oppose the Pheu Thai see this as an attempt to drain the nation’s finances to reward Pheu Thai supports in the Northeast.
The message on the billboard contends that the money the government seeks is not large at all and is going to help the poor. It contrasts the money owed to the farmers with the 800 billion baht supposedly “lost” by the Democrats when they restructured the bad loans caused by the 1997 Asian currency crisis.
This poster replaces a previous Anti-Suthep one.]