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Bill: SR 24: The Investor Confidence and Security Act
Details
Submitted by[?]: Labour Party
Status[?]: defeated
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: September 3079
Description[?]:
| ***SR 24: The Investor Confidence and Security Act*** Sponsored by: Senator Ryan Fay, SDP Chancellor Cosponsored by: Senator Joe Augutis, Shadow Finance Minister (SDP) Whereas the entire nature of a stock exchange requires rules and regulations, we fear that the current system of deregulation will lead to the collapse of our stock indexes. Currently, insider trading and speculation can run amok. Without any type of regulation, insider traders will manipulate the system and cause massive corporate stock losses, non-liquid asset losses for Solentia's families and workers, and could lead to a massive collapse in the Solentian economy. _________________________________________________________ Article I: Stock exchanges are allowed and will now be regulated. _________________________________________________________ |
Proposals
Article 1
Proposal[?] to change The government's position towards the stock exchange(s).
Old value:: Stock exchanges are allowed and are unregulated.
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 | 20:16:34, February 17, 2011 CET | From | Labour Party | To | Debating the SR 24: The Investor Confidence and Security Act |
| Message | Stock exchanges cannot exist without regulation. We do not have the luxury of laissez-faire stock investing. If we did, that would be truly wonderful, but alas, we do not, and we have to responsible and live within our means. I ask each and every senator to denounce ideological loyalties and vote using common sense. Are we going to allow insider traders and stock speculators to bankrupt our country? To destroy private retirement accounts? To overvalue or undervalue stock prices and destroy corporate wealth? Don't toe the ideological line. Do the right thing, because we can either regulate our stock exchanges to make sure they work, or we can have none at all. The status-quo is unsustainable. Vote yes, and I yield back. Senator Ryan Fay SDP Chancellor |
| Date | 20:19:58, February 17, 2011 CET | From | Labour Party | To | Debating the SR 24: The Investor Confidence and Security Act |
| Message | Unregulated stock exchanges are chaotic. Those with inside knowledge at major firms can sell or buy with advanced knowledge that gives them an unfair advantage, which makes the entire point of investing obsolete. Speculators can drive prices artificially high, which can create a bubble of imaginary wealth. Or, they can drive it lower and make a corporation much less wealthy than it really is. Finally, investors know these things. Solentians know these things. If you were thinking about investing, but knew that insider traders had better knowledge than you, would you invest? Absolutely not. You would lose your money. Anyone who votes no on this bill is clearly admitting they know nothing about economics, and are voting to bankrupt investors across the land. Vote yes, and I yield back. Senator Joe Augutis Shadow Finance Minister, SDP |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 85 | ||||
| no |
Total Seats: 203 | ||||
| abstain | Total Seats: 137 |
| Random fact: When it comes to creating a Cultural Protocol in a Culturally Open nation, players are not necessarily required to provide a plausible backstory for how the nation's cultural background developed. However, the provision of a plausible backstory may be a factor in whether Moderation approves the Cultural Protocol if players in surrounding nations question its appropriateness for their region of the game map. |
| Random quote: "Many forms of Government have been tried, and will be tried in this world of sin and woe. No one pretends that democracy is perfect or all-wise. Indeed, it has been said that democracy is the worst form of government except all those other forms that have been tried from time to time." - Winston Churchill |