Glass-Steagall Bill Placed Before Congress; Now, Assure Its Passage Along With LaRouche's Four Laws

February 2, 2017
Reps. Walter Jones, Tim Ryan, Tulsi Gabbard (at podium) and Marcy Kaptur, introduced the "Return to Prudent Banking Act," H.R. 790, calling for the reinstatement of FDR's original Glass-Steagall Act. [instagram/Tulsi Gabbard]

Three developments occurred in Washington, D.C., yesterday, which set the stage for a policy showdown which will determine, in short order, whether or not the United States economy and nation will survive.

First, Representative Marcy Kaptur (D-Ohio) announced the re-submission of her Glass-Steagall bill to this, the 115th Congress of the United States, with 26 co-sponsors. She also held a high-profile press conference along with Congressmen Walter Jones (R-NC), Tulsi Gabbard (D-HI), and Tim Ryan (D-Ohio), during which she stated: "President Donald Trump even endorsed the call for 'a 21st-Century version of Glass-Steagall' during a campaign statement in Charlotte, North Carolina. We have an obligation to work with him to achieve that."

This is precisely the sort of bi-partisan drive required to force the British Empire and Wall Street to swallow the medicine they so despise--but which the country and the world so desperately need.

Second, White House press spokesman Sean Spicer responded to questioning by EIR's Bill Jones, as to whether or not President Trump still supports Glass-Steagall, as he had stated he did on the campaign trail back in October 2016. Jones referred to the "ambiguous" statements about Glass-Steagall made by Treasury Secretary nominee Steve Mnuchin, now up for Senate confirmation. Spicer assured Jones and the gathered press corps that Trump's policy remains "consistent" on Glass-Steagall.

The third development, was the shameful sight of the Republican members of the Senate Finance Committee ripping up their own rule book, to approve the nomination of the anti- Glass-Steagall Steve Mnuchin for the post of Treasury Secretary, despite the fact that not a single Democratic Senator was present--a blatant violation of Senate rules. This maneuver de facto ushered in a parliamentary system in Washington--at least for now. The nomination of Soros hatchet-man Mnuchin now passes to the full Senate for a vote, unless a Senator--any single Senator--puts a "Hold" on the matter.

Lyndon LaRouche yesterday told associates that Glass-Steagall is the enemy's most vulnerable point, and that we have to realize the intention of Congress as a whole with a clear statement of policy on this matter. We take that first, he stated; we can outnumber them, and then proceed to the remainder of the Four Laws that are required for national and international economic recovery.

In that same discussion, Helga Zepp-LaRouche stressed that our mobilization must move both quickly, to locate a Senator in the next 24 hours to put a hold on the Mnuchin nomination; and in depth, to achieve the prompt return to Glass-Steagall and LaRouche's Four Laws. This issue of Glass-Steagall is one of two central policy battles that must be won in and around the incoming Trump administration, she emphasized. The other is to pull back from the brink of thermonuclear war with Russia and China, which the Bush-Obama policies brought about, based on re-establishing a sensible relationship between the United States and Russia.

Trump is moving forward significantly in that regard, as was again emphasized by Kremlin spokesman Dmitry Peskov, who praised the "good, constructive" phone call that Trump and Putin had on Jan. 28. And the growing hysteria among spokesmen for the British Empire and Wall Street, who are howling about how Trump has created "exceptional uncertainty" for them by speaking amicably with Putin, shows that real progress is being made.

Now it is time to make the British Empire's worst nightmare come true, on both accounts.

Highlights from the press conference.