With a nationalist message that attacked the IMF, TRT caught the mood of an electorate that had suffered during the crisis. Schemes that were to pour government funds into rural areas—soft loans for every community, a three-year debt moratorium for farmers, a universal health care program, and a “people’s bank” proved popular during the 2001 election campaign. The economic downturn and fear of social conflict had convinced the Bangkok-based elite that they had to support Thaksin. The agreed-upon trade-off saw enhanced social welfare programs while the elite expected that their power and wealth would be restored and protected. Following TRT’s electoral victory in 2001, Thaksin set about delivering on his promises. At the same time, he caused some investor jitters by extolling the virtues of managed development. Boosted by the government’s heavy domestic spending, the economy recovered, and even international businesses saw that they could deal with Thaksin.