Over 50,000 protesters demanded the resignation of Prime Minister Thaksin Shinawatra in a rally held in Bangkok on March 5, 2006.
The rallyists accused Thaksin of corruption, suppression of press freedom, and human rights abuse.  News reports state that the event represented the biggest political crisis in Thailand since 1992, when street protests forced the ouster of a military-backed government.

The largely middle-class based rally, held outside the Government House, site of Thaksin's office, included burning an effigy of Thaksin in a mock funeral, political satire through Chinese opera and performances of anti-Thaksin lam tat (Thai-style chant). They shouted, Out Thaksin!

Associated Press writes that the anti-Thaksin campaign swelled after January 23, 2006 when the prime minister's family sold its controlling stake in the telecommunications company Shin Corporation to Temasek Holdings, an Asian investment agency based in Singapore.

The Shinawatra and Damapong (the maiden name of Thaksins wife Potjaman) families are said to have netted about 73 billion baht (about US$1.88 billion) tax-free from the transaction, exploiting a regulation that individuals (as opposed to corporations) who sell shares on the stock exchange pay no capital gains tax.

Critics have accused Thaksin of insider trading, destroying democratic institutions, and structuring the deal to avoid paying hefty taxes, among other irregularities. They say that he is guilty of corruption, tax evasion and human rights violations.

Before the March 5 rally, two other anti-Thaksin demonstrations were held accusing Thaksin of corruption and abuse of power. There were over 50,000 protesters in Royal Plaza during the second demonstration on February 11, 2006. The first anti-Thaksin rally took place on February 4 with over 100,000 demonstrators.

In the February 4 rally, Media tycoon Sondhi Limthongkul led the campaign to spur political reform and oust Thaksin Shinawatra as prime minister.

Following the February 11 rally, Campaign for Popular Democracy secretary-general Suriyasai Katasila said in Thai webmagazine The Nation that people from various sectors including academics, businessmen, farmers, urban poor, non-government organisations, labours, and students would form the Peoples Alliance for Democracy (PAD) to champion reform and try to oust the PM.

After a month of street protests, Thaksin dissolved the parliament on February 24.  He has also called a snap election in April in an attempt to win back authority, a decision which has drawn widespread criticism from analysts and protesters. Parts of the opposition threatens to boycott the elections and PAD promises to continue rallies until the Prime Minister steps down.

Source: 

BBC News. (2006, March 5). Mass rally against Thailands PM. Retrieved March 9, 2006 from <http://news.bbc.co.uk/2/hi/asia-pacific/4775926.stm>.

Ganjanakhundee, S. & Bhumiprabhas, S. (2006, February 16). Mass protest: Anti-Thaksin alliance grows. The Nation. Retrieved March 9, 2006 from <http://www.nationmultimedia.com/2006/02/06/headlines/headlines_20000277.php>.

Pinyorat, R. (2006, March 6). Thai PM defiant despite protest rallies. Associated Press. Retrieved March 8, 2006 from <http://www.guardian.co.uk/worldlatest/story/0,,-5665489,00.html>.

Wikipedia. (2006, March 7). Thaksin Shinawatra. Retrieved March 8, 2006 from
<http://www.nationmultimedia.com/2006/02/06/headlines/headlines_20000277.php>.