Checks restored - Bangkok Post

Re: "Democrats seize control of Congress, Senate", (World, Nov 5).

I am delighted that the American people finally put the shackles on the most dangerous and divisive president in history, and that checks and balances will be restored.

He has been humiliated and put in his place to serve the American people, not himself.

Perhaps the petrol and everything else will become cheaper and the world will breathe a sigh of relief.

Well done, the Yanks, especially in Texas and Kansas.

Re: "Democrats seize control of Congress, Senate", (World, Nov 5).

Bravo on the US midterm elections' strong voter outcome. I never gave up on the American people.

As one good-old-boy Texas man just said: They tried to fit a high-end saddle made for a thoroughbred horse onto a donkey, and no matter how much they tried, it just would not fit.

Re: "Echoes of 1997", (PostBag, Nov 5).

In response to Paul Renaud again about the 1997 economic meltdown, which pulled down 56 finance/finance and securities firms, it was triggered by the Thai baht devaluation from the fixed exchange rate of 27 baht per US dollar to finally more than 50 baht per US dollar.

As a result, borrowing in foreign currency denominations more than doubled, affecting banks, finance companies, and the finance and securities section of the finance and securities company, with 56 eventually going down.

The securities company and the securities section of the finance and securities company were also affected as stock prices fell across the board.

At that time, margin loan accounts that triggered the minimum maintenance margin threshold were enforced under the regulations.

But at that moment, market liquidity dried up, and the enforcement took days or weeks.

Finally, I also presume the margin loan regulations are still in place and have not been loosened.