Louisiana Realtors Pass Resolution To Reinstate Glass-Steagall
January 26, 2011 • 12:30PM

At a January 20-21, 2011 meeting of the Louisiana Association of Realtors Leadership Conference, a resolution was passed by the Louisiana state Board of the National Association of Realtors (NAR), calling for the reinstatement of Glass-Steagall. Plans are to get it passed by the National Association of Realtors, and also to present it to Louisiana Congressmen in Washington, D.C. This resolution, introduced by Fred Huenefeld, a longtime LaRouche activist and a board member of the Louisiana group, follows last week's endorsement resolutions calling for a return to Glass-Steagall, and adoption of NAWAPA, by the Louisiana Association of Soil Conservation Districts.

The text of the resolution reads: "The Louisiana Association of Realtors urges and requests the National Association of Realtors to support the return to Glass-Steagall Act.

"Whereas, the Glass-Steagall Act was put in place in 1933 to separate commercial banks from investment banks and

"Whereas, in 1933, the F.D.I.C. act guaranteed funds in commercial banks and

"Whereas, in 1999 the Glass-Steagall act was repealed and resulted in trillions of dollars of debt and the cration of $1.4 quadrillion of derivative debt, thereby tightening available money for resident and commercial projects, and

"Whereas, the return to the Glass-Steagall policy will aid in saving Western Civilization economy by creating earned income in the economic system.

"Therefore be it resolved that the Louisiana Associations of Realtors requests and urges the National Association of Realtors to support the return to Glass-Steagall policy."