Lodamun

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For the National Investigations Bureau (NIB), Lodamun’s premier domestic intelligence and investigative agency, the threat of illegal firearms use remains one of the most prevalent. In its previous report on incidents involving illegal firearms, the NIB notes an increasing trend in the number and relative lethality of firearms being used in various crimes including robbery, murder and kidnappings. It suspects that the vast majority of illegal firearms within the nation originate from sources external to Lodamun, mainly from neighbouring states. Within law enforcement, there exists a long-running, yet unsubstantiated claim that the vast majority of the nation’s illegal firearms problem could be traced to illegal ports of entry in south-eastern Millford, along the nation’s border with Baltusia. The region, outside of Fort Karav, has been known as a sort of trans-connection point where fringe groups within Lodamun import firearms from numerous Baltusian sources. Tisney County Sheriff William Anderson, whose officers have been on the frontlines of this seemingly silent war, notes that although the situation could not be placed at the feet of legal entities in neighbouring Baltusia, he suspected that firearms were moving into the county via bad actors within Baltusian militias operating in the adjacent area. “We ain't lookin' to point no fingers in this here situation. Our smarts tell us there's a chance their weapons might be comin' from them shady characters in them Baltusian militia outfits. 'Beyond that, I got nothin' more to say.” Sheriff Anderson explained. Recently, particular attention has been growing within Baltusia surrounding the potential ban on paramilitary organisations/militias by the incumbent Baltusian government, largely at the behest of an HPA (Hosian Proletariat Assembly) amendment. The amendment has attracted significant condemnation by political organisations within Baltusia including the National Objectivist Party (NOP) which has warned of its intention to expand the party’s paramilitary group, the National Objectivist Guard (NOG). Director of the NIB, James Feit when asked to offer comments on the evolving situation in the country said: “The National Investigations Bureau welcomes the decision to make paramilitary organisations (PMOs) illegal within Baltusia. It represents a step in the right direction towards getting that nation’s domestic security environment in step with the modern national security landscape.” He noted that the agency had launched an official investigation into Sheriff Anderson’s claims, noting that the seriousness of the matter requires the agency’s involvement. He noted that in the months to come, the agency will initiate formal communication with the Baltusian Government on a common agreement with respect to sharing information and mutual assistance in policing matters. He noted that as the bureau continues to build out its database of supposed national security threats, he notes that numerous paramilitary groups operating on the continent were under the agency’s watch including the various paramilitary wings of all political organisations in Baltusia. The Bureau of Firearms and Control (BFC), whose responsibility it is to investigate matters involving the use of firearms and other illegal weapons and ammunition on the federal level, has confirmed that it has communicated with the Baltusian Government its intention for cross-border collaboration, and was awaiting a response through relevant channels.

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Although a core institution of the modern Lodamese state, the Harrington Company, has remained dormant for the better part of the previous century. Much of this could be placed at the feet of the various governments which succeeded the administration of former DPL President Douglas Concannon. Following Concannon’s resignation owing to his deteriorating health, the Harrington Company, then under the leadership of Elliot Gallant entered numerous caretaker phases, as due to the lack of a formal appointment of a Merchant General, much of the entity’s daily administration fell on the numerous Chief Factors which followed. Amidst that precarious situation, numerous legacy projects initiated under the DPL-led Harrington Company include the reconstruction of Lodamun’s Merchant Marine and harmonisation of the nation’s export and import market, the entity has been operating in a sort of state of autopilot. Although the nation’s existing trade agreements with numerous entities including Kalistan and Lourenne could be sufficient to maintain the current environment, there is growing momentum within Kensington for the nation to rekindle its transformative drive once more. Ahead of the formal release of the federal government’s plans for the broader national economy, the National Congress approved the appointment of William "Bill" Hanlon as Merchant-General, therein confirming speculation related to the DPL’s intention of leading a major restructuring of the organisation’s internal governance mechanisms with the hope of ensuring the entity is capable of meeting the objectives of its foundation mandate a mere century away from the deadline of the charter’s sunset clause. The Senate unanimously confirmed Hanlon, an experienced diplomat and former Lodamese Ambassador to Luthori with all senators from the DPL and the LDPP voting in favour of his appointment. Although largely unknown within the halls of power in Kensington, as Lodamese Ambassador to Luthori and a close advisor to numerous caretaker administrations in recent Lodamese history, Hanlon has gained a name for himself as a sort of technical expert in international trade. Secretary of State William Spencer, who was recently confirmed before the Senate, stated that Hanlon’s confirmation meant that the administration could move forward on its ambitions for the future of Lodamese international trade. Pointing to the transformative agenda of former Secretary of State Emerson Pope and Merchant General Gallant in making the first steps towards expanding Lodamese external trade, Spencer confirmed that President Danvers hoped to take up the mantle and continue building on the progress made under the Concannon Administration. Speaking to the press in an impromptu press conference on the steps of the National Congress, Hanlon thanked the bipartisan committee for its approval alongside hinting at some of the initiatives to be expected in the coming weeks and months. “I’d like to thank the bipartisan committee for its decision to confirm me as Merchant-General. I think that we are in a sort of watershed moment for Lodamun. Certainly, it is my hope to get a lot of the Harrington Company’s legacy projects off the ground once again; including the shipbuilding programme. We intend to move to the foreground some discussions with the Department of the Treasury and the Department of Commerce and Industry related to export credit which have been on the shelf for some time, so look out for that,” Hanlon said. As he seemingly lacks much of the expertise needed to manoeuvre the numerous political landmines scattered around Kensington, the Danvers Administration was also successful in confirming Linda Collins, a former Chief of Staff to the Speaker of the House, as Deputy Merchant-General.

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Having promised to provide a complete assessment of the potential risks and general impact associated with the closure of the Aldegar Canal to international trade amidst internal instability, Merchant-General William Hanlon stated that although the crisis is likely to have little impact in terms of Lodamese shipping having to use the canal, the direct effects of the situation could be easily dwarfed by the indirect effects. Speaking at a press conference at the Harrington Company’s headquarters in Kensington, Hanlon stated that the entity’s internal research bureau, on instructions from Hanlon himself had initiated an in-depth analysis of the evolving situation, largely bourne of broad concern for the potential impact of the enduring crisis on the Lodamese economy. With the federal government finally making incremental steps towards realising a revival of the Lodamese economy, the crisis could not have come at a worse time. In assessing establishing trade routes used by both the Harrington Company and private-sector companies, the research bureau noted that Lodamese trade was largely unreliant/independent of the Aldegar Canal, owing to the nation’s geographic position. The vast majority of Lodamese trade be it with Artania, Majatra, Eastern Seleya/Western Dovani and the Dovanian continent at large, often avoided the Aldegar Canal altogether. It explained that it would be largely irrational for any international trade moving into or out of Lodamun to pass through the canal, as such a decision would only serve to increase shipping costs. Although the Bureau notes Lodamun’s relative immunity from the more direct consequences of the canal’s closure, (i.e. trade diversion), Hanlon stated that the crisis’ indirect effects are what continues to trouble both the Harrington Company and the Federal Government. Quoting statistics from the research bureau’s report, Hanlon explained that the Canal’s closure would undoubtedly result in a decrease in Lodamese export volumes. Pointing to the fact the Lourennais economy, which depends on the Canal to facilitate trade between it, the WDEU and Majatra, could potentially experience an economic slowdown, demand for Lodamese products will decrease thereby contributing to the aforementioned fall in export volumes. “We [Lodamun & the Harrington Company] maintain strong trade relations with Lourenne, which outside of the informal Commonwealth grouping, represents the largest market for Lodamese exports. A slowdown in that nation's economy, WILL not could, lead to a decrease in export volumes as demand collapses on itself,” Hanlon explained. Alongside this, the research bureau noted the opening rumbles of broad financial market volatility as the Lourennais, Beiteynuese and Luthorian stock exchanges have all experienced major drops in points. It concluded that the broader economic uncertainty which could follow could impact Lodamese investments and cause fluctuations in the LOD. The barely silver lining arising out of the situation is centred around the anticipated increase in commercial traffic moving along Lodamun’s ports. As shipping firms either choose to bet on the crisis’ quick resolution and hold on to the edges of the canal, others will undoubtedly reorient trade towards alternative routes around Seleya including the Silliers Channel and the Karzon Strait. In a press statement issued moments before Hanlon’s conference, Secretary of Infrastructure and Transportation Patrick Stalno confirmed that he had been engaged in numerous discussions with state and federal port authority officials on the anticipated increase in maritime traffic. He noted that although numerous Port Authority Commissioners had expressed concerns related to port congestion, assurances were made by the Department to provide a much-needed funding boost to the respective entities to aid in the procurement of additional equipment, facilities and manpower. Hanlon warned that although the trade impact was largely unstated, he highlighted his thoughts on the financial situation as he notes: “Although it could be said that we are potentially risk-averse on the trade side, I believe that the financial/macroeconomic side could get choppy. I am by no means an economist, however from what we’re seeing throughout the globe, we are going to be impacted on the economy front. Notwithstanding that, I do not doubt that Secretary Wright [Secretary of the Treasury Dr Christopher Wright] will lead us out of this situation albeit slightly bruised and in a less than desirable debt situation than before.”

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Although initiated under the Concannon Administration as a permanent mission with the intent of yearly, enduring patrols, Operation Barracuda, the Lodamese Coast Guard’s mission to patrol the international waters near Telamon, Dolgava and the western approach of the Anantonese Ocean and the very edge of the Trigunian maritime zone is said to be collapsed, this from Coast Guard Commandant Admiral Alvin Conway. Citing complications related to the relative inaction of successive governments coupled with the suspension of the Coast Guard’s ambitious shipbuilding and equipment procurement programme, Admiral Conway stated that the mission’s demise was a result of numerous factors, largely out of the branches’ control. As the situation surrounding the Aldegar Canal deteriorates thus prompting numerous shipping firms to reroute traffic away from the canal and towards the alternate approaches, namely the Karzon Strait and the Silliers Channel, signals from Kensington have pointed to the need for the Coast Guard to recommence operations in anticipation for increased maritime traffic through Lodamun’s economic exclusion zone (EEZ) and the bodies of water adjacent to it. At a press conference at the Coast Guard’s headquarters in Portswood, Admiral Conway revealed that following numerous discussions with President Alex Danvers, Secretary of Domestic Affairs Ida Casel and Secretary of Defence Peter Gibson, the Lodamese Coast Guard would recommence operations in the area under the new “Operation Barracuda II”. Conway confirmed that following a review of the previous mission’s achievements, the new Operation Barracuda is likely to be accompanied by new changes. Principal among them is the introduction of new vessels. Under the existing force structure, the formidable Domestic Security Cutter remains the workhorse of the Lodamese Coast Guard. Its superior range enables it to conduct operations beyond Lodamun’s border for longer periods without having to return to a friendly port for R&R. Under the new force structure, the Cobia-class is likely to take precedent, with the Domestic Security Cutters working in tandem alongside them. He noted that although the Cobia-class will become the new workhorse of the Coast Guard in the operation, the number of Domestic Security Cutters would be reduced to two (2) patrolling the region at all times alongside Cobia-class vessels instead of the original four (4) under Barracuda I. Shifting towards ensuring the Lodamese Coast Guard maintains an enduring presence in the area, Conway revealed that he had initiated discussions with the Defence Procurement Administration (DPA) on a continuation of the coast guard shipbuilding programme. He noted that the crisis had provided a particular perspective on the Coast Guard’s needs and roles going into the future. Beyond the procurement of vessels, Conway revealed that the Coast Guard was looking into maritime patrol aircraft which would extend the service’s range well beyond Operation Barracuda II. He explained that in situations where a Coast Guard could not visualise or respond to a situation fast enough, maritime aircraft should be on hand to provide that necessary rapid response action.

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Prime Minister Ellis on State Visit to Lodamun

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Following the visit by New Englian Prime Minister Zach Ellis to Lodamun wherein both nations signed an agreement which would see New Englian bauxite exported to Lodamun (via the Harrington Company), processed and the resultant aluminium and steel would be shipped back to New Englia. Speaking at a joint press conference at the Department of Commerce and Industry, Secretary of Commerce Kevin Burke alongside Merchant-General of the Harrington Company William Hanlon stated that the meeting was both productive and provided real movement in terms of deepening the relationship between both nations. According to Secretary Burke, subsequent discussions with Prime Minister Ellis largely revolved around the nation's bauxite resources alongside its ambitions to launch its own domestic shipbuilding industry. Pointing to attempts by state and federal officials in Berkwaki to jumpstart the state's infant metalworks industry, he noted that a safe and dependable supply of bauxite would undoubtedly underscore the efforts being made by government officials towards encouraging private sector activity. The proposed NELAT agreement, as mentioned prior, would see New Englian bauxite extracted, shipped to Lodamun where it will be processed and then shipped back to New Englia and other territories. The structure of the trade itself has come under fire from some quarters who view it as a textbook mercantilist relationship. Trade economist and columnist Frederick Armstrong says, "What we have here is the revival of the mercantilist order, not seen since the days of the empires." Secretary Burke stated that amidst the agreement numerous firms involved in the smelting/metalworks industry have hailed the bauxite agreement as the beginning of a major boon, recognising the previous challenges surrounding mineral supply within Lodamun. "It is our hope that this agreement would lend itself to a long-term supply trend," a press release from the Millford Industrial Chamber read. Speaking to the prospects of Lodamese assistance in helping New Englia nurture its infant shipbuilding industry, Merchant-General Hanlon stated that amidst the company's decision to restart its shipbuilding programme, there was a possibility that the Harrington Company could aid in the actualisation/materialisation of said ambition. Hanlon noted that similar to its previous acts in Kalistan, wherein it contracted local Kalistani shipping firms to construct the vessels which would move trade between both Lodamun and Kalistan, he noted that such an arrangement could be organised. "We will have to conduct an assessment of where New Englia is in terms of shipbuilding, whether it has the ports necessary to construct say a bulk carrier. Based on that assessment we could then bring in our people to talk the more technical details of that programme," Hanlon explained. According to Hanlon, however, such an agreement is based on the broader assessment as well as whether New Englia will be capable of avoiding much of the internal instability which has become commonplace in Dovani, saying: "We will not be pouring investment into something which could potentially be disrupted due to internal machinations."

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Ahead of the Hanlon administration’s announcement of its broad plan for the domestic economy, Secretary of State Jennifer Toule and Merchant-General Adam Runt stated that they intended to use a four-day visit to Yingdala to both solidify the nation’s diplomatic relations as well as negotiate a tentative agreement which could potentially open the Yingdalan market to Lodamese exports and allow greater volumes of Yingdala imports into the country. Speaking at a joint press conference at the State Department building in Kensington, both Secretary Toule and MG Runt confirmed that following high-level talks between the Lodamese State Department and the Yingdalan Ministry of Rites and Education, it was decided that the Lodamese government formally elevated its relationship with what is slowly becoming one of the fastest growing economies in Dovani. According to Secretary Toule, Lodamun and Yingdala maintain cordial diplomatic relations wherein both nations recognise their common goals of global prosperity. However, the two nations do not maintain formal diplomatic relations (i.e.) neither operate an ambassador within the respective nation, as according to Secretary Toule, the vast majority of diplomatic services within Yingdala are conducted by proxy, through its embassy in Lourenne. She lamented that in what was once one of the world’s largest economies and what could be argued as one of the world’s major consumer economies, the concept of Lodamun not maintaining (1) formal diplomatic relations and (2) a diplomatic presence within the nation was “regrettable”. She noted that during her visit, she intended to sit down with numerous Yingdalan officials including Counsellor-in-chief Zhu Xiaoli and Minister of Rites and Education, Yan Xiang to discuss cultural exchanges alongside the more pressing diplomatic-related business. Yingdala universities have been considered to be among the best on the Dovanian continent and primarily serve as an important means through which many of the Dovani continent, particularly those within the developing world are granted some of the best opportunities for higher education. Although there is an enduring case for Secretary Toule to encourage dialogue between the Lodamese Department of Education and Culture and Yingdala Ministry of Rites and Education on potentially adapting many of the core concepts endemic to the Yingdala higher education system, she underscored the importance of the cultural exchange programme as proposed by Minister Xiang saying: “There is certainly a lot to be learned from Yingdala’s education system. An apt counter-balance to the Western-oriented teachings of the Lourennais universities system, Yingdala universities produce revolutionary minds with a keen understanding and appreciation of Eastern culture. Such awareness of one’s heritage is most certainly an admirable quality among students and citizens alike.” Merchant-General Runt, in mirroring much of the sentiment conveyed by Secretary Toule noted that Lodamun cannot and should not pass on the opportunity for greater access to what could be considered one of the world’s largest consumer markets. Pointing to the tens of millions of Yingdalan consumers, MG Runt stated that as Lodamese exporters continue to express a growing “hunger” for newer markets, the Yingdalan market could potentially become a major boon for said exporters. In sympathising with the nation’s ongoing battle against inflation (stemming from the ensuring Canal Crisis), Runt stated that the Yingdalan government’s eagerness to resolve economic uncertainty within the country was “admirable.” Numerous business leaders have expressed eagerness with the trip, with the CEO of Pryor Motors William Dodson noting that his company would be more than interested in discussing establishing Yingdala as a potential base for the vast majority of its operations in Dovani. When asked whether the Hanlon Administration had any intention of potentially learning from some of the economic/fiscal decisions of the Yingdalan Government, Runt retorted that although the administration has not hidden from the fact that the transition period has stymied a more aggressive response, unlike Yingdala which maintains a sizeable sovereign wealth fund, each economic decision within Lodamun, domestic or otherwise must be made with careful consideration of the long-term implications recognising the tight rope the nation walks related to its foreign reserves.

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As economic uncertainty within the world’s major economy mounts amidst the worsening situation surrounding the Aldegar Canal, there is a growing wariness surrounding Lodamun’s chances of exiting the crisis either unaffected or potentially stronger than before. Although the Harrington Company’s initial assessment confirmed that the canal crisis’ impact on the wider Lodamese economy would largely be contained to indirect circumstances, primarily a decrease in trade volumes among the nation’s largest export markets, the entity’s sentiment has not done much in allaying fears among employers and employees of the sustainability of the Lodamese economy in its current state. Following decades of mismanagement at the hands of the Grand Republican Party, who seemingly squandered on the broader prosperity created by the previous DPL Administration of former President Douglas Concannon, the Lodamese economy although stable and macroeconomically sound, has experienced a major collapse in productivity throughout the economy. According to statistics from the Department of Labour, compared to the previous half-century, Lodamese labour productivity collapsed from 3.14% to around 1.89%, a 39% drop. This coupled with unemployment statistics pointing to an 8-point increase from 4% to 12%, in the past decade has painted a gloomy picture for the national economy which has economists sceptical of Lodamun’s prospects of surviving another external shock on the scale of the canal crisis and the ensuing financial market uncertainty making its way through Lourenne, Beiteynu, Yingdala and now Dankuk. Historically, the Lodamese government, under the DPL, has played an enhanced role in the national economy and has been largely responsible for “inducing demand” in some infant industries. The vast majority of this economic interventionism has been largely contained to funding/financing and technical assistance through numerous federal agencies including the Federal Industrial Finance Corporation (FIFC), the Rural Development Administration (RDA) and the Research Projects Administration (RPA). The underlying rationale/principle behind the vast majority of these entities stemmed from the nation’s industrial policy which was conceptualised under the [Julliet] Andrews Administration. Under this industrial policy, core areas of the Lodamese economy were identified as being in dire need of “broad fiscal attention”, namely manufacturing (be it related to automotives, semiconductors, advanced machinery, etc), research and development (be it related to advanced computing software, semiconductors and digital processes) and agriculture. In leveraging Lodamun’s growth and increased revenue against these industries, the nation experiences a period of extraordinary economic activity. Alongside the federal government’s efforts, state governments also became involved in the broader industrial policy, with states mirroring and in some cases innovating much of the financing options available to both the public and private sector. However, at the end of the Concannon Administration, much of this momentum had been lost as the DPL retreated from the Lodamese political scene entirely, leaving the nation’s hard-fought prosperity to “incompetent” economic managers and therein exposing the nation’s soft underbelly to the broader canal crisis.

At a joint press conference at Whitehall alongside Secretary of the Treasury Dr Phineas Sinkler and Secretary of Commerce and Industry Ann Taggert, President William Hanlon proclaimed that the Lodamese economy was entering a new phase of its economic development. Unveiling his administration’s keynote economic agenda, President Hanlon admitted that the ensuing economic downturn spurred on by the canal crisis did impress upon him, the need for a broader recovery agenda. In premising his broader statement, President Hanlon noted that unlike many territories, with vast reserves of mineral resources, Lodamun had no means of accumulating vast foreign reserves in excess of its export earnings. He explained that it was against this backdrop that historically, there has always been a careful undertone to how successive DPL administrations have approached the entire concept of economic development. “Unlike many territories with vast reserves, we have to ensure that we get certain things right because we have very little wiggle room for mistakes,” he said. He confirmed that the administration intended to focus the vast majority of its energy on six (6) core areas, namely financial services, manufacturing, research and development, renewables, petrochemicals and agriculture. These six areas, according to President Hanlon, represented the sectors of the Lodamese economy, which have demonstrated a degree of particular importance within Lodamese economic history. Although there is an argument to be made surrounding the need to develop new, emerging industries, thereby building on the model developed under the Neilson Administration, Hanlon noted that whilst there will certainly be a time to explore new and emerging industries in Lodamun, against the backdrop of uncertainty within the global economy, strengthening of existing industries was the far greater priority, he quipped, “At this moment we are focused on restoring confidence within our economy. Whilst it will undoubtedly mean that focusing on the emerging sector will be placed on the back burner for now, I remind everyone that it is possible to chew gum and walk.” The administration’s agenda, similar to that of the Andrews Administration, calls for the creation of new independent agencies tasked with providing unique support with the purpose of affecting positive change and growth within the aforementioned sectors. This has led many economists to call the agenda an industrial policy in all but name, as it sets out key objectives for these agencies moving into the next half-century. “Although it may not have the same overt overtures as did President Andrews’ industrial policy, it nonetheless attempts to mirror much of what it sought to achieve. Under that programme, numerous entities were created including the RDA, RPA, FIDC, FHFC and FGFC, all of which continue to do yeoman work in enacting positive change within the Lodamese economy. I think what President Hanlon is attempting to do here is simply build on that model,” economist Alexander Porter said during a brief interview.

Speaking to the broader details surrounding the financial services sector, Secretary Sinkler stated that compared to other sectors, financial services had been largely “forgotten”. Pointing to the extraordinary support agriculture and manufacturing received from previous administrations, he noted that the nation’s commercial banks had been largely “left to their devices.” The last recorded instance of aid or regulation to the sector came under the Neilson Administration, which incubated many of the nation’s legacy financial institutions including, Bank of Newchester, PCH Carville and Flintwood Nash. As part of the administration’s plans for the sector, the Credit Reconstruction Corporation (CRC) will be operationalised as an entity subordinate to the Federal Reserve Bank with the sole purpose of restructuring and recapitalising distressed banks and involving solvency throughout the financial system. He explained that the administration had no intention of usurping the FRB of its responsibility for banking stability, but instead hoped that a special-purpose agency under the FRB’s remit would lend itself to a recovery within the sector. In agriculture, two new agencies arise in the form of the Nutritional Resources Administration (NRA) and the Agricultural Securities and Risk Management Authority (ASRMA). The NRA, according to President Hanlon would be primarily responsible for addressing the challenges related to hunger and nutrition within Lodamun and is likely to work with Lodamese farmers in distributing surplus agricultural products to the most vulnerable within society. The ASRMA, a machination of Secretary Sinkler’s macroeconomic reforms, aims to establish a means through which the federal government can aid in providing much-needed insurance options to the nation’s farmers, particularly as it relates to crop insurance. Secretary of Agriculture Robert Mantle, via a press statement issued following the press conference, hailed the ASRMA’s creation as a major victory for farmers, noting that as crop insurance is considered extremely risky for private sector entities, it was envisioned that the solution be brought into the public sector, via the ASRMA where the federal government will carry the risk burden. Additionally, the agency will oversee the operationalisation and management of Lodamun’s first agricultural commodities exchange. Secretary Mantle penned that following discussions with both the Governor of Barrington Evan Duncan and the Barrington Farmers Association, the exchange would likely be established in Barrington, with farmers throughout Lodamun having access to the inherent benefits of a commodities exchange for agricultural goods including market-based pricing, market information and transparency. Manufacturing, Petrochemicals and Research and Development are likely to be handled by the FIFC and the RPA respectively, as rumours surrounding an expansion of the RPA activities with universities and the private sector has drawn considerable interest.

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Against the backdrop of weakening confidence within the domestic banking sector spurred on by growing uncertainty within the global financial system as the stock markets on Lourenne, Beiteynu and now Dankuk begin to feel the pressure of the canal crisis and its ensuing knock-on effects, President of the recently-constituted Credit Reconstruction Corporation (CRC), Dr Capria Bowman met with the CEOs of the nation’s major financial institutions to discuss the agency’s plan to recapitalise the banking sector. In an impromptu press conference held on the steps of the Treasury Department, Dr Bowman stated that prior discussions with the Chairman of the Federal Reserve Bank Dr Josef Wojciechowski and Secretary of the Treasury Dr Phineas Sinkler had resulted in its being made incumbent on the CRC to address the capitalisation issues within the banking sector. Data made available from the Federal Reserve Bank revealed that as the sector had been largely left to its devices under successive political administrations and had been made to weather numerous external shocks on their own, several of the nation’s major financial institutions had entered into periods of debt which the FRB described as “unsustainable.” Dr Bownman confirmed that she had inter-personal meetings with the CEO of Bank of Newchester, Daniel Macdonald; the CEO of Flintwood Nash, Charles Thomas; the CEO of PCH Carville Georgia Simpson, and the CEO of Meridian Financial Dr Megan Sutton. She explained that whilst the meeting was cordial, there was a looming dread within the atmosphere. Historically, the Lodamese Government has not been receptive to the idea of helping the nation’s major financial institutions get back on their feet, as they often argued that it represented the antithesis of the DPL’s progressive platform. “Our focus is on Main Street. The banks can fend for themselves,” former President Jared Williams once quipped. The tentative agreement, as negotiated between the CRC and the aforementioned banks, would see the Lodamese Government essentially clear the banks’ debt over a medium to long-term period, albeit alongside the additional caveat of restructuring. She noted that of the five banks party to the agreement, PCH Carville needed the most help, recognising that the firm’s otherwise reckless actions in offering below-average loans had placed the firm in a situation wherein it struggled to maintain positive capitalisation throughout the month. “Whilst I certainly cannot go into the details now surrounding PCH Carville, I can reveal that the firm’s previous actions have landed it into a capital crunch situation wherein it struggles to maintain positive capitalisation at the end of the month,” Dr Bowman explained. She reiterated Secretary Sinkler’s comment that “seamless access to capital is the foundation of positive economic growth”, noting that although the bank would receive the necessary funding required to recapitalise itself and maintain a stable operation, it would have to be restructured. Leaked images from the tentative agreement signed between the banks and the CRC show that in exchange for accepting the aid of the CRC, PCH Carville would be broken up into two separate entities: namely an investment bank called Hewlett & Lynch, and a commercial bank called Carville Domestic Trust. An additional, caveat which has reportedly angered both senior management and investors involved in PCH Carville related to the CRC’s acquisition of roughly a 5-8% stake in both Hewlett & Lynch and Carville Domestic Trust. Chairman of the Board of Directors of PCH Carville, Edward Poole has reportedly threatened to resign amidst the decision to not only break up the firm but also to allow the federal government to maintain a “sizeable” stake in the operations of the new entities. According to Dr Bowman, PCH Carville’s situation on non-negotiable, as she noted that due to PCH Carville’s exposure, the bank was by no means capable of keeping the lights on. “The agreement was signed onto by the Senior Chairman, Dr Jeremiah Milligen. Dr Milligen understands the dire situation of the firm and saw this recapitalisation proposal as a rescue line. Should the board choose to withdraw from the agreement, they are well within their rights to seek a private-sector solution, which according to our assessments will fall on its head and will inevitably result in either the company’s bankruptcy or complete nationalisation. By breaking the bank up, we are giving them another chance,” Dr Bowman concluded.

[imperialpearl]

If it had not been clear, food alongside other bare necessities including water and housing remain inalienable and fundamental rights inherent to the human experience. Equal access to these bare necessities has, for the better part of the previous millennia been a silent, yet growing issue among the nation’s poor and most vulnerable. In an era of inherent excess, broad variety and unprecedented technological advancements, thousands within Lodamun go hungry each day, many of whom are children and the elderly. Recently updated data from the Department of Agriculture revealed that among the 8 million senior citizens in Lodamun, some 500,000 often could be said to be “food insecure”, with some 8,000 dying each year due to starvation and/or malnutrition. Figures from the Department of Education and Culture reveal a more dire situation among the nation’s children. It notes that of the 30 million some 800,000 could be said to be food insecure, with some 12,000 dying each year due to starvation and/or malnutrition. In potentially one of the most prosperous nations on the Seleyan continent, the very existence of hunger remains a striking indictment against the nation’s economic priorities, particularly its wanton failure to address issues such as poverty and income inequality once and for all. The data mentioned prior, although a snapshot of the situation over the previous decade, is but a small instance of a situation which had been secretly festering to the knowledge of previous political administrations, however in the absence of a coherent strategy to address the broader challenge, the issue had been kicked down the road from one administration to the next. Having outlined his administration’s broad economic reform agenda, President Alex Danvers stated that his administration would not, “for all intents and purposes”, continue to ignore the hunger crisis sweeping through the nation’s poor and most vulnerable communities. Speaking at a joint press conference alongside Secretary of Agriculture Ralph Hudson, President Danvers stated that the plight of hunger and malnutrition would remain a stain on the DPL’s political legacy for millennia to come as he acknowledged that so too did various DPL Presidents including Douglas Concannon, Julliet Andrews and Abner Whitford were uniquely aware of the situation. He noted that although it would be performative for the government to conduct a broad investigation into the supposed reasoning behind the decision by the successive administrations to ignore the issue, it would be better for it [the federal government] to make yeomen steps in addressing the challenge and finding itself on the side side of history with respect to hunger. In its analysis of the food supply and distribution system within Lodamun, the Department of Agriculture’s Socioeconomic Research Unit concluded that the crisis of hunger within the nation was not the result of a deficit/scarcity within Lodamese agriculture or food processing but was instead as a result of how food is distributed throughout Lodamun. It pointed to the nation’s seemingly shaky social welfare system as a key contributor to the enduring challenge. Although the administration has offered comments related to its broader plans for social welfare, President Danvers stated that as a result of the situation, the administration would ultimately seek to reform the food supply chain from the inside out.

As part of the administration’s response, President Danvers revealed that the cabinet had agreed to create an independent agency under the preview of the Department of Agriculture to be known as the Nutritional Resources Administration (NRA). This new agency would, according to President Danvers, be responsible for establishing networks of collaboration between local farmers and food-insecure groups in the hopes of providing immediate relief to low-income households and the needy. “Within this, our nation, bound by our commitment to the betterment of all, hunger should and must be eradicated. The abundance of this modern era has allowed for prosperity never seen in previous decades and thus it is easy to conclude that this challenge is not based on our ability to produce but on how we distribute what we produce to those who are in need,” said Secretary Hudson as he explained that rationale behind the NRA. “This agency would bring about a transformation in our internal food distribution system and hopefully bring an end to this crisis of hunger which plagued many Lodamese citizens of varying age, sexuality and gender.” Among some of the core responsibilities of the NRA would be direct support to vulnerable groups. Secretary Hudson noted that the agency would be largely responsible for developing impactful food assistance programmes, developing policy for the implementation of a federal school feeding programme and the distribution of surplus agricultural products. He confirmed that although much of the administrative work surrounding the agency’s eventual operationalisation is ongoing, the NRA would undoubtedly have access to the Social Welfare Administration’s central database for vulnerable persons. Nutritionist and author Dr Christopher Ellis has been tapped to lead the NRA as its Administrator. President Danvers has noted that there is consideration to transfer the agency to the Department of Health and Social Services once reforms related to the Lodamese welfare state have been initiated, noting that the NRA is likely to work closest with the nation’s social welfare agencies, bureaus and departments in achieving its core function of eradicating hunger throughout the nation.