Forum Post: Local Governments in Pennsylvania Vote Up Re-Instating Glass-Steagall

Two local governments in Pennsylvania voted up resolutions last night, in support of reinstating Glass-Steagall, and for restoring national credit, and launching the NAWAPA XXI program (North American Water and Power Alliance XXI). This brings the state total number to six, of localities supporting the resolution.

Nationwide, there are dozens of counties and localities now considering the resolution. In early May, Roberts County, South Dakota, unanimously passed it. In Louisville, Kentucky, there is a Glass-Steagall support resolution filed, awaiting action by the City Council.

On June 4, the Boards of Supervisors of Cumberland Township in Greene County, in southwestern Pennsylvania, and in Center Township in Indiana County, west central, passed the LPAC support resolution for Glass-Steagall and NAWAPA XXI.

The impetus for much of this action, comes from local leaders associated with independent community banks. They are vehemently in favor of restoring Glass-Steagall, and vehemently opposed to continuing bail-outs to mega-banks.

Indiana County stands out in a special way in this regard. It was hometown to actor Jimmy Stewart, who starred in the movie, "It's a Wonderful Life," which honored independent community bankers like "George Bailey," the lead character in the film.

Every year at Christmastime, Indiana, PA, holds a holiday parade, on the theme of "It's a Wonderful Life," with participation by surviving cast members. Rep. Walter Jones (R-NC), co-sponsor of HR 1489, featured a movie photo of George Bailey, the good local banker, in Jones's Dear Colleague letter in 2011, asking for Congressional co-sponsorship of H.R. 1489, showing Bailey in contrast to a debauched casino — the current financial bail-out policy.

http://larouchepac.com/node/22940