gawguy Posted October 8, 2008 Report Share Posted October 8, 2008 I'm back in LOS after 3 months in USA in which IndyMac collapsed on me and Washington Mutual, and Wachovia, also my banks, were taken over, sold, absorbed or whatever. I don't have a lot of faith in banks! But what can you do? I read the article in Fortune magazine about the good King of Thailand being worth $30 billion, plus, and the "plus" is a lot more. Part of his holdings, held by the Royal Holding company, is a 25% stake in SCB. Of course we can't get a good read on the possibility of any Thai bank failing, but this is something that really concerns me because I have 2.5 million baht on deposit at BKK Bank. I want to open one more account to "spread the risk" by putting about half into a different bank. My theory is that Thailand would never allow SCB to fail because of its relationship with the King. Also the King's holding company could step in and support SCB. How does that sound for a seat-of-the-pants theory? GG Link to comment Share on other sites More sharing options...
WorldFun Posted October 8, 2008 Report Share Posted October 8, 2008 it's grate mate Link to comment Share on other sites More sharing options...
Sporty Posted October 8, 2008 Report Share Posted October 8, 2008 Sounds good to me, I may open an account as well. Link to comment Share on other sites More sharing options...
YimSiam Posted October 8, 2008 Report Share Posted October 8, 2008 It's not whether it fails or not, it's who is prioritised when it does - which is good for you, because (assuming you're farang?) we all know that farang retail customers will be protected, and Chinese-Thai godfathers and other vips will just have to wait in line... Link to comment Share on other sites More sharing options...
cavanami Posted October 8, 2008 Report Share Posted October 8, 2008 There was an airline the King was involved in that failed...if memory serves me right. So it can happen. Link to comment Share on other sites More sharing options...
exileexpat Posted October 9, 2008 Report Share Posted October 9, 2008 A lot of the Kngs money is in holding companies ( wind river etc) that invest in local and international projects. I would not think SCB is save just because his money is there. Of course his money would be safe, but as for the rest of SCB clients, I am sure they would lose their shirts in order for the kings money to be safe. His assests would be the first to be saved, probably at the expense of yours and mine Link to comment Share on other sites More sharing options...
samak Posted October 9, 2008 Report Share Posted October 9, 2008 you will not win the nobel price for this theory! Link to comment Share on other sites More sharing options...
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