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Bill: [RP Law] Banks
Details
Submitted by[?]: Liberecana Unio
Status[?]: passed
Votes: This bill is a resolution. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: November 4231
Description[?]:
| Honorable Ladies and Gentlemen, We would like to discuss the government actions we will take, in case of a collapse of the financial system. The LU, after long thought, has decided to follow our capitalist roots, and use the classical approach: in case of the financial collapse of private banks, the government will provide no special assistance to said banks and will definitely not bail the banks out. The bank, through the owners or their assets, will have to pay reparations. The procedure will follow any other bankruptcy procedure without any special privileges. And a Criminal investigation will follow to search for any fraud the banks as corporations and staff as individuals have done. OOC: The laws 1. a. In case of the financial collapse of private banks, the government will provide no special assistance to said banks; b. Bailing out of the private banks with tax payer money is regarded as unconstitutional and is treated as theft, as it is taken people's money and giving it to privileged private business and corporations; 2. a. The bank will have to pay reparations; b. The Owners are made partially liable; c. Corporate assets are confiscated/nationalised by the government in the total sum of the reparations and sold to private enterprises in a fair and free tender according to all the rules and laws of the free market and respecting the holiness of private property and pwnership; 3. a. The procedure will follow any other bankruptcy procedure without any special privileges; b. Criminal investigation will follow to search for any fraud by the banks as corporations and staff as individuals; 4. The judicial system shall be fair and unbiased and never forgeting the sanctity of free market laws and private commerce; 5. This bill needs a constitutional, 2/3, majority to pass and the same to be cancelled. IC This should always keep us prepared, and let the free market regulate itself, to provide the fairest and most efficient solutions. Furthermore, it reflects well on the image of the government, especially in the face of left accusations, as we are Independent of the financial sector lobbying efforts. Thank you for listening, Respectfully, Alfio Provo Minister of Finance of Zardugalo. |
Proposals
Debate
These messages have been posted to debate on this bill:
| Date | 00:24:50, June 06, 2017 CET | From |  Liberecana Unio | To | Debating the [RP Law] Banks |
| Message | Ooc: of course open for debate |
| Date | 13:37:10, June 07, 2017 CET | From | Zardio Konfedera Partio | To | Debating the [RP Law] Banks |
| Message | Mr. Speaker This is nothing more then enshrinement of the careless laissez faire economic policies that got Zardugal into the mess the LU did when the global financial collapse happened. We see no point in supporting such a careless and reckless Bill. Citto Mamalo Assembly Minority Leader |
| Date | 23:23:08, June 07, 2017 CET | From | Liberecana Unio | To | Debating the [RP Law] Banks |
| Message | Mr. Minority Leader, This bill would ensure, that such financial collapse never hits Zardugalo again, as banks would be much more careful who they issue loans to, how much they securitize and to what extent is speculation 'safe'. This bill kills the current 'too big to fail' mentality within our financial sector, and shows the people, the taxpayer with whose money banks would be bailed out, that we are on their side. Not on the side of big banks. This shuts down the communists claiming that the government is corrupt, which has led to the emergence of the Socialist Federation right at our borders, and lastly, it shows that we do not prefer any type of industry, any type of lobby. We deny subsidies and bailouts to famers, private industry and other corporations, so why is the financial sector any different? Of course we would save government owned companies, as they are financed by tax payers anyway, but private companies who went bust, they must know better and must be held accountable for their actions. Sadly we cannot pass this bill without a 2/3 majority and therefore we have to ask you to reconsider, or to highlight any specific points that disturb you. Thank you, Alfio Provo Ministe of Finance |
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Voting
| Vote | Seats | |
| yes |
Total Seats: 323 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 77 |
| Random fact: Particracy does not allow real-life fictional references (eg. Gandalf, Harry Potter, Luke Skywalker). |
| Random quote: "The National Rifle Association says, 'Guns don't kill people; people kill people,' but I think the gun helps." - Eddie Izzard |