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Massive mortgage defaults


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#1 Sexpat

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Posted 23 November 2006 - 10:30 AM

More Thakisn-style populism ?

"Prime Minister Surayud Chulanont Wednesday promised to suspend any move that will see indebted farmers' lands being auctioned off by mortgage-holding government agencies or state enterprises....

Currently, 330,000 indebted farmers are on the verge of losing their land through mortgage loans.... He admitted that it was a shock to learn that more than 38 million rai of farmers' land had been mortgaged."

http://www.nationmultimedia.com/breakingne...newsid=30019665