Thailand: Meltdown In Progress?
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.
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