Akron, Ohio Councilman: Wall Street Money Hogs Started 'Class Warfare;' Stop It With Glass-Steagall!
September 28, 2011 • 9:13AM

A City Councilman from Akron, Ohio, yesterday wrote to his Congressman, for his co-sponsorship of H.R. 1489 to reinstate the Glass-Steagall Act.

Akron was once a leading, high-skill industrial center in the Cleveland-to-Pittsburgh arc of heavy manufacturing. Since World War II and before, Akron was known as "Tire City," from its specialty in rubber processing. Its population in 1960 was 290,000, and has fallen down to barely 200,000 today, with a high poverty rate. Though dislocated, its workforce families would remobilize under the Glass-Steagall gateway to re-industrialization, rebuilding and launching NAWAPA.

The Councilman's letter in full:

Dear Congressman —-,

"I am writing to you to ask that you become a co-sponsor of HR 1489 to reinstate the Glass-Steagall Act. That law served us well for many years. After its repeal in 1999, it only took the money hogs on Wall Street eight years to "tank" the economy. They got outrageously rich while the honest working people here in my ward got shafted. They need a champion to speak for them, and I am hoping that you become that champion.

"If that sounds like "class warfare," let's make the best of it; they started it. Sincerely, —-"