NationStates Jolt Archive

Banking Regulation Act
A resolution to reduce barriers to free trade and commerce.


Category: Free Trade
Strength: Significant
Proposed by: Britannia1011

Description: Recognizing:
The significant impact of the failure and misconduct of financial institutions on the global economy and individual financial solvency.

The lack of protection for those individuals who are customers of commercial financial institutions.

The fraudulent risks banks take on issuing credit in order to make profit.

Establishes a Bank oversight committee that will make reccomendations on individual bank solvency and regulation adherence, as well as gives the committee the authority to impose sanctions on those institutions who violate banking regulations.

Forbids Financial institutions from loaning more than 40% of liquid deposits and more than 75% of non-liquid deposits.

Prohibts institutions from predatory (or sub-prime) lending.

Prohibits institutions from issuing credit at a variable interest rate on real estate loans.



Any thoughts?

Before this gets too far.....(it hasn't yet, but has all the potential)

http://i48.photobucket.com/albums/f235/HoratioSulla/WA_Catgirl_card.jpg

Opposed based simply on the fact that this does not appear to be an international issue.

Diplomat Xen Felgras

Before this gets too far.....(it hasn't yet, but has all the potential)

http://i48.photobucket.com/albums/f235/HoratioSulla/WA_Catgirl_card.jpg




There are no words which express how much we agree with the most venerated and highly esteemed Senator. May his ancestors ride in victory across the eternal plains of heaven.


yours sincerely,

I think I'll go one step further than everyone else here and call this illegal. This proposal is telling the banking industry that they can't do these things, which is not reducing barriers to trade and commerce but erecting them.

Opposed

this has no chance of passing basically because it's up to each state to decide on banking regulations. and a committee? to oversee whom? the international community?

doesn't make sense.

opposed

I'll repeat Bob's assertion: it's illegal on the grounds of increasing, not decreasing, regulation.

I personly think that you havn't gone far enough... research your topic before you propose something.

for example "The fraudulent risks banks take on issuing credit in order to make profit."

Thats how banks operate and make money... for the econ to work they must make profit

If this propoal passes your are putting all nations banks OUT OF BUSINESS and the economy bankrupt... I still agree that Free Tradeis an issue though. and to make our economy stronger we must enable Free Trade amongst WA Nations.

I personly think that you havn't gone far enough... research your topic before you propose something.

for example "The fraudulent risks banks take on issuing credit in order to make profit."

Thats how banks operate and make money... for the econ to work they must make profit

If this propoal passes your are putting all nations banks OUT OF BUSINESS and the economy bankrupt... I still agree that Free Tradeis an issue though. and to make our economy stronger we must enable Free Trade amongst WA Nations.


This may be the sort of "Casino Capitalism" which drives the economy of MYSEF but it is not that which necessarily drives every economy in the w.a. and it certainly is not the engine of the economy of the Empire of Urgench.

The legality of this resolution makes it moot but our objection to it is in having our economy tampered with by theories of economics which are immoral and faulty.

yours e.t.c. ,

Thank you for the input, i really appreciate it. As far as bank profit, i have no problem with that, i work for a bank. But to use a real world example, the banks seem to be doing an excellent job putting themselves out of business in persuit of profit, at the expense of consumers i might add. The stability of the world economy hinges on the health of the banking system.

Thank you for the input, i really appreciate it. As far as bank profit, i have no problem with that, i work for a bank. But to use a real world example, the banks seem to be doing an excellent job putting themselves out of business in persuit of profit, at the expense of consumers i might add. The stability of the world economy hinges on the health of the banking system.



Forgive our ignorance but is the respected Ambassador telling us that they work for a bank aswell as their national government or is their national government simultaneously a bank?

yours sincerely,

The ambassador begs forgiveness in his verbal gaff. He was formerly employed with a financial institution.

i still have issue with this committee. who will be appointed to it? how many appointees? whom will appoint them? and how long will their term be?

also note that all nations have different banking systems. One universal banking regulatory commitee doesn't seem very efficient. also booming economic countries might want to allow banks to give out more loans and at a higher percentage for economic reasons, while others might not.

how would such a committee be able to handle the thousands of country financial needs? it's too broad a committee. the commitee thing needs to be edited respected ambassador.

The category seems off. How will creating a commitee encourages free trade?

Would the ambasador from Wachichi look at supporting such a bill with the committee section either edited for removed completely?