Thailand has suffered a military coup in favor of the monarch. Good or bad, I can't tell. I am no expert on Thailand, but do know that their government has been plagued with allegations of corruption and more recently, lack of a working legislature.
From the AP:
Thailand - The Thai military launched a coup against Prime Minister Thaksin Shinawatra on Tuesday night, circling his offices with tanks, seizing control of TV stations and declaring a provisional authority pledging loyalty to the king. The army commander took over the government and declared martial law.Prime Minister Thaksin is currently in New York City for the UN General Assembly, and for whatever it's worth declared a state of emergency.
An announcement on Thai television declared that a "Council of Administrative Reform" with King Bhumibol Adulyadej as head of state had seized power in Bangkok and nearby provinces without any resistance."The armed forces commander and the national police commander have successfully taken over Bangkok and the surrounding area in order to maintain peace and order...
*UPDATE* Thai Military suspends constitution, parliament, and a high court.
*UPDATE* Pajamas Media covers the coverage, with lots of links.
A more recently updated post on the Thailand Coup can be found here.