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Maine Passes Glass-Steagall Memorial,
As National Campaign Takes Off

April 10, 2013 (EIRNS)—On April 9 the state of Maine became the second state in the Union to pass a memorial demanding that Congress re-enact the Glass-Steagall law. The Maine State house unanimously passed SP465, which had been voted up unanimously in the Senate April 4.

The South Dakota state legislature voted up a similar memorial for Glass-Steagall on February 28.

The action in these capitols reflects a new momentum coming into the fight for restoring Glass-Steagall, which the Lyndon LaRouche Political Action Committee has been leading since 2008. Resolutions demanding Congressional action have been introduced in 13 states, and are imminently to be introduced in as many as a dozen more (see the Glass-Steagall page at www.larouchepac.com for an up-to-date picture).

The state action is aimed at spurring immediate action in Congress, both around H.R. 129, Rep. Marcy Kaptur's bill for restoring Glass-Steagall, and for getting a similar bill introduced into the Senate. As of this writing, sponsors of Kaptur's bill stand at 53.

The recent official theft of funds of bank depositors in Cyprus, and the murderous budget cuts being put into effect by the Obama Administration, have contributed significantly to increasing support for Glass-Steagall, as the crucial means for ending bank bailouts, hyperinflation, and the genocidal austerity drive. It has become increasingly clear to Americans that, unless there is Glass-Steagall—and the followup national banking and infrastructure measures Lyndon LaRouche PAC has proposed—the genocide now being visited on Greece and Cyprus is coming to the U.S.