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Harkin moves to reinstate Glass-Steagall Act

May 21, 2013
Dan Schmitt, Marshalltown , Times-Republican

My letter writing for the past year or more culminated on May 16 with our Senator Tom Harkin having the courage to introduce SB 985 to restore the Glass-Steagall Act into the U.S. Senate.

This is a companion bill to the House of Representatives HR 129 which already has 63 sponsors. I am urging citizen of the Marshalltown T-R reading area to thank Senator Harkin for this very bold action. And to urge Senator Grassley and each of our Representatives to do the same.

Senator Harkin went against his own party and the administration to correct the repeal of the Glass-Steagall, which was the single most important cause of the financial crash of 2007-2008, and we have been in economic free fall since that collapse. Glass-Steagall had served us

well for 66 years and protected our families and banks from financial collapse.

Appropriately, Senator Harkin took action on May 16, the 80th anniversary of the introduction of the original Glass-Steagall Act into the House of Representatives by Rep. Henry Steagall. Again, congratulate and thank Senator Harkin for taking this great action; it will make for easier

living. This will not only help us in the U.S., but also all of Europe whose citizens are begging for us to pass Glass-Steagall since they do not have this type of government. So I beg you to do your part in this great action and get more sponsors. Restoring Glass-Steagall will open the door to a full return to a robust, productive, agro-industrial economy.

 
 

 

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