Thailand: Meltdown In Progress?

As the crisis deepens, Thailand Inc. is in danger

It was meant to be the end of a trauma. After the government had already pumped up to $3 billion into Finance One, a high-flying finance firm undone by massive bad loans made during Thailand's go-go years, word spread through Bangkok that a state-controlled bank would take the firm over. The merger, if it goes through, would be the first move under a package of emergency measures unveiled on June 24 by new Finance Minister Thanong Bidaya to ease Thailand's mounting fiscal crisis.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.