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Maryland the Eighth State to Memorialize Glass-Steagall

Feb. 6, 2017 (EIRNS)—A House Joint Resolution on Glass-Steagall was introduced in Maryland’s state legislature today—H.J. 4 (or HJ0004), titled, "Reinstatement of the Separation of Commercial and Investment Banking Functions," sponsored by Del. Susan McComas, a Republican from Bel Air, who is a Deputy Minority Whip, with six other co-sponsors.

The six co-sponsors include two Republicans and four Democrats, who represent a very diverse group. The two republicans are Rick Impallaria, who has been Chair of the Harford County delegation, and Pat McDonough, a prominent right-wing radio show host who ran for Congress against incumbent Dutch Ruppersberger. The Democrats include a Baltimore County Democrat, Jay Jalisi, who is a member of the Pacific Islanders Caucus; Mark Chang, the first Korean-American elected to the House of Delegates; Susie Proctor, a Maryland Education Association leader from Prince George’s County; and Ana Sol Guttierez, a prominent Hispanic-American from Montgomery County.

This represents the eighth state where Glass-Steagall has been introduced into the state legislature in 2017.

Memorials urging Congress to pass legislation enacting all of Lyndon LaRouche’s Four Laws to revive the U.S. economy have been introduced in Mississippi, New Mexico, South Carolina, and Washington State. Legislation urging Congress to pass Glass-Steagall (LaRouche’s Law #1), has been introduced in Virginia, Delaware (both House and Senate), Iowa, and the Washington State Senate (as a second resolution which memorializes Glass-Steagall as a stand-alone bill). Today, the introduction of HJ4 for Glass-Steagall makes the eighth state where the Memorials have been introduced.

The Four Laws Memorials contain three additional pieces of legislation to follow Glass-Steagall: 2) The creation of a National Bank, as Alexander Hamilton did; 3) the issuance of public credit for building infrastructure, and 4) the funding of advanced technologies such as space and fusion power to increase the productivity of the economy through science drivers.

Twenty-seven Congressmen, led by Ohio Democrat Marcy Kaptur, reintroduced The Return to Prudent Banking Act (HR 790), which would reinstate Glass-Steagall, into Congress last week.