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Bill: Lex autem ripas popularibus regulandam
Details
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: June 4476
Description[?]:
| Senators, This law seeks to have the regulation of banks and their policies, trades, and finances to avoid a bibble or monopoly forming in Selucia. Cicereia Materna Populares Party Member in Marstella |
Proposals
Article 1
Proposal[?] to change The banking system.
Old value:: The government operates a central bank and all other banks are private.
Current: The government operates a central bank and all other banks are private.
Proposed: The government operates large, national banks, but small community based private banks are allowed.
Debate
These messages have been posted to debate on this bill:
| Date | 20:01:25, October 24, 2018 CET | From | Partis Communis Seluciae | To | Debating the Lex autem ripas popularibus regulandam |
| Message | Senators, The Pars Laborem wholeheartedly agrees with Article 1, however, we are concerned with Article 2. The Central bank has largely operated as a semi-independent institution to ensure corrupt bureaucrats do not hold complete power over the economy. Alongside this, the organization of our economy as Democratic Workers Coalitions ensures that corrupt capitalists also do not hold complete power over the economy. We question why the national legislature would be any more competent than appointed individuals who are educated in the inner workings of our economy. We also question why we would put the central bank in the hands of the legislature as doing so, effectively gives control of the economy to the largest party and/or coalition of parties. Flavius Gessia Senator and Pars Laborem Candidate for Minister of Finance. |
| Date | 09:50:52, October 25, 2018 CET | From | Factio Republicana Socialistica | To | Debating the Lex autem ripas popularibus regulandam |
| Message | Senators, We welcome the comments by Senator Gessia and we applaud the decision of Ms. Materna to remove Article 2. We will support the renationalization of major banks. Public banking has a number of benefits that will allow greater democratic oversight over our financial system, something that existing credit unions often have difficulty providing. Public banks will, in conjunction with private democratic financial institutions, contribute to increased growth and a more democratic economy. We would however need to avoid the influence of the legislature and other high offices over the renationalized public banks. What guarantee can Ms. Materna offer that would avoid undue political influence over public banks? Titiana Agrippina Minister of Finance |
| Date | 13:35:06, October 25, 2018 CET | From | Factio Unitatis Patriae | To | Debating the Lex autem ripas popularibus regulandam |
| Message | Senators, Following on from the Minister of Finance's comments about undue political influence, we would propose that if this bill passes that all the publicly-owned banks be run based on the policy in place for the central bank i.e. "the government appoints the head of each public bank and an executive board to manage each bank and can interfere with their operations". Our party would be happy with that level of oversight and regulation for all the public banks. Marcus Aquillius Ursus Senator; Finance Spokesperson for the FUP |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 328 | |||
| no |
Total Seats: 171 | |||
| abstain |
Total Seats: 251 |
| Random fact: Players must never be asked for their Particracy password. This includes Moderation; a genuine Moderator will never ask for your password. |
| Random quote: "The greatest lesson in life is to know that even fools are right sometimes." - Winston Churchill |