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Forum Post: Glass Steagal resolution intruduced in three states

Posted 1 year ago on Feb. 22, 2013, 4:33 p.m. EST by arturo (3169) from Shanghai, Shanghai
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Glass-Steagall Resolution Introduced in South Dakota February 22, 2013 • 1:30PM

The momentum for Glass-Steagall continues with the latest filing of Senate Concurrent Resolution 6 in the South Dakota state legislature. The resolution requests Congress enact legislation that would reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall Act (Banking Act of 1933).

The resolution was introduced with massive support thanks to the on the ground organizing of LaRouche PAC volunteers in South Dakota. This resolution is sponsored by 69 legislators, more than half of the total 105 South Dakota legislators. Cosponsors include 18 Senators and 51 Representatives from both political parties.

The South Dakota resolution follows swiftly on the heels of House Joint Resolution 3 which was introduced into the Maryland legislature just two days ago and carries the bipartisan support of 15 legislators. Also this month, on February 5th, in the Pennsylvania legislature, House Resolution 73 was introduced with 10 bipartisan cosponsors.

A total of seven states have introduced resolutions this year calling for the immediate reinstatement Glass-Steagall: Rhode Island, Virginia, Kentucky, Montana, Pennsylvania, Maryland and now South Dakota.

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[-] 2 points by Middleaged (5140) 1 year ago

Good job, Arturo. Seems like solution if states impose laws to force the Industry to Change and Get Cleaned Up. Wonder what our state legislatures have been doing up to this time. 2008 was the Crisis, 2009 was the Recession. Thats like 4 years ago.

We are sleep walking with passive floridated State Representatives.....

[-] 2 points by arturo (3169) from Shanghai, Shanghai 1 year ago

Thanks for your support. Some of the state legislatures have been into Glass Steagall since a while back. I don't remember the details, but I remember hearing about it.