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Disappointed? Don't be. And here are the reasons why:

Legal observers call the Thaksin verdict a "winning ugly" strategy. It's a popular term in sports, especially soccer, referrring to teams that play for results rather than entertain the audience. You keep it very tight, try to steal a goal, and then shut up shop until the final whistle.

As we can see, the guilty verdict was based exclusively on indisputable facts - Thaksin was prime minister; his spouse bought a state-auctioned land with his consent; the Financial Institutions Development Fund is a state agency; the purchase was prohibited by anti-corruption laws.

Since the Supreme Court's verdicts can only be appealed in the event of earth-shattering new evidence that can challenge facts that form the basis of a ruling, Thaksin's grounds for appeal are virtually non-existent thanks to the watertight writing of the verdict on his case.

This "winning ugly" theory may explain why the court dropped more contentious charges that Thaksin as prime minister "conspired" with state officials to reap personal benefits. The ruling only dealt with the obvious - Thaksin's actual act of giving his consent to Pojaman to buy the land.

It can also explain why the ruling did not touch upon some dubious events that could have enhanced conflict of interest accusations. For example, the Thaksin government made December 31 an official working day, allegedly allowing the Ratchadaphisek land transaction to be completed just in time before a new, and higher, transfer fee took effect. Putting this in the verdict would be nice, a beautiful football, but you will be more exposed to counter-attacks.

Simon Quek from Singapore inquired about Thaksin's options including the possibility of a royal pardon. Unless the Constitution is changed drastically enough to provoke the worst political violence in modern Thai history, Thaksin looks all but finished legally, though politically he could continue pulling the strings from |exile.

This, of course, leaves the royal pardon a plausible possibility. But it's too early to discuss the questions of how to get it and when.