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Bill: The Banking and Economic Security Act
Details
Submitted by[?]: Telamon Social Democrats
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: February 4314
Description[?]:
| An Act to form a National Bank along side the commercial banks- The National Bank shall act as the Telamonia's official mint for the Telamonian Pound. The National Bank shall oversee monetary policy relating to the Telamonian Pound. The National Bank shall also act as a "lender of last resort" for private banks in case of financial crisis. The National Bank's leadership shall be appointed by the government, but the government is expressly prohibited from interfering in the National Bank's operation. This Act shall also implement a comprehensive policy of regulation on the Telamon stock exchanges, for the purpose of preventing dubious investor/corporate behavior that could seriously jeopardize the well being of the Telamon economy. |
Proposals
Article 1
Proposal[?] to change Central Bank oversight and regulation (if a central bank exists)
Old value:: The central bank is underneath the direct oversight of the Ministry of Finance.
Current: The central bank is underneath the direct oversight of the head of state.
Proposed: The government appoints the head of the central bank and an executive board to manage the central bank but does not otherwise interfere in its operations.
Article 2
Proposal[?] to change The banking system.
Old value:: All banks are privately owned.
Current: The government operates and owns all banks.
Proposed: The government operates a central bank and all other banks are private.
Article 3
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:
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| Vote | Seats | ||||
| yes |
Total Seats: 257 | ||||
| no | Total Seats: 243 | ||||
| abstain | Total Seats: 0 |
| Random fact: You can inactivate yourself on your User Page. You will then lose all your seats but your party account won't be deleted, and your party's Visibility ratings will not diminish. Reactivation can be requested in the "Reactivation Requests" thread in the Game Moderation section of the Particracy Forum. |
| Random quote: "We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice." - Friedrich August von Hayek |