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Bill: Stock Exchange Act - modified, corrected
Details
Submitted by[?]: Rutanian Democratic Forum
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: August 2580
Description[?]:
| Providing basic regulation for stock exchanges in order to prevent crime and fraud and any illegal or harmful activities. |
Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: The government has no position on the proliferation of stock exchanges.
Current: Stock exchanges are allowed but are regulated.
Proposed: Stock exchanges are allowed but are regulated.
Debate
These messages have been posted to debate on this bill:
| Date | 23:56:20, May 21, 2008 CET | From | Commonwealth Party | To | Debating the Stock Exchange Act - modified, corrected |
| Message | We support the first option, with the unregulated stock exchange... |
| Date | 00:02:48, May 22, 2008 CET | From | Rutanian Democratic Forum | To | Debating the Stock Exchange Act - modified, corrected |
| Message | We would rather see some regulation, basic bussiness controling, to prevent fraud or illegal activities. Or even stock exchange crashes- if price of some shares drops abruptly, the trading should be stopped in order to prevent greater damage. This is already standard politics in all major stock exchanges * OOC: * on Earth :) |
| Date | 00:22:57, May 22, 2008 CET | From | Commonwealth Party | To | Debating the Stock Exchange Act - modified, corrected |
| Message | Stock exchanges dont crash, stock markets can but they crash because the economy is unhealthy like high inflation, over spending by government, high interest rates, high tariffs, and an over supply of money. But the white-collar crimes the RDF is talking about, is over seen by our justice department and has nothing to do with stock exchange regulation. But we still support this law over the current law... |
| Date | 00:25:38, May 22, 2008 CET | From | Commonwealth Party | To | Debating the Stock Exchange Act - modified, corrected |
| Message | I take that back, i was being confused...we support |
| Date | 01:05:36, May 22, 2008 CET | From | Rutanian Democratic Forum | To | Debating the Stock Exchange Act - modified, corrected |
| Message | OK, I was wrong, stock market crash. But not because of unhealthy economy. OOC: Big Crash of 1929 came after very prosperous time, and there was no single signal of crash- economy was very healthy in USA then. |
| Date | 03:24:12, May 22, 2008 CET | From | Federal Rutanian Libertarian Union | To | Debating the Stock Exchange Act - modified, corrected |
| Message | Don't support, regulation is unhealthy for business and would rather see stock exchanges set up on their own - they are afterall self-regulating in themselves and don't need further government provisions for regulation. |
| Date | 22:36:13, May 22, 2008 CET | From | Commonwealth Party | To | Debating the Stock Exchange Act - modified, corrected |
| Message | Stock market regulation is pretty much only setting up security organizations to protect investors, and maintain fairness in investing. And it's also about reliability and being honest to the public, thats why there needs to be regulation. OOC: You are right about the crash of 1929 being after a prosperous time but that stuff doesn't happen in one day. There were signs that the economy wouldn't do good and thats when you have to look at what the Federal Reserve and Congress was doing. But a depression and recessions are normal in every economy and usually in America, a depression lasts about 2 or 3 years but the Great Depression lasted 10 years. FDR with his destructive and big government policies made it last longer than normal, World War 2 got us out of the depression. |
| Date | 00:25:13, May 23, 2008 CET | From | Rutanian Democratic Forum | To | Debating the Stock Exchange Act - modified, corrected |
| Message | OOC: I know I'm right, I did some research in university about that :) The same was happening with "black Monday" in 1987...And the conclusion is: economy needs some regulation. That statement "There is no such thing as a free lunch" is not quite correct.... |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 357 | ||||
| no | Total Seats: 236 | ||||
| abstain | Total Seats: 6 |
| Random fact: Unless otherwise stated, monarchs and their royal houses will be presumed to be owned by the player who introduced the bill appointing them to their position. |
| Random quote: "I think the environment should be put in the category of our national security. Defense of our resources is just as important as defense abroad. Otherwise, what is there to defend?" - Robert Redford |