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New Advocates of Glass-Steagall
Step Forward

Sept. 12, 2011 (EIRNS)—The state council of the AFL-CIO of West Virginia today issued its resolution endorsing H.R. 1489, the "Return to Prudent Banking Act of 2011," and urging West Virginia's Congressional Representatives "to co-sponsor and vote for H.R. 1489 restoring the protections of the Glass-Steagall Act." Eight statewide AFL-CIO bodies, along with the national union, have now done so.

For its part, the protest group calling itself "The General Assembly of New York City," which is involved in building for the Sept. 17 Day of Rage/Occupy Wall Street demonstrations and sees itself as the American "Indignados," issued a release Sept. 11 [The full statement is on takethesquare.net] stating, among other things:

"Some of us think that the imposition of a Robin Hood Tax on all financial transactions, tax increases on capital gains, and the reinstatement of the Glass-Steagall Act are three essential measures to reestablish a minimum of fiscal sanity in the United States and abroad."