100+ WA Candidates Support Glass-Steagall
June 23, 2012 • 9:24AM

On June 28, 2011, due to the work of the Washington State LaRouche PAC organizers, the Democratic Party of King County (Seattle area) passed a resolution urging the Congress to pass the H.R. 1489 Return to Prudent Banking Act, to reinstate the Banking Act of 1933 laws to prohibit commercial banks and bank holding companies from investing in stocks, underwriting securities, investing in or acting as guarantors of derivatives transactions.

At its April 28 convention this year, the King County Democrats, this time in great part due to the Christie for Congress Campaign, decided to include the following simple question in their 2012 Candidates Questionnaire:

"Do you support re-enactment of the Glass-Steagall Act?"

This questionnaire went sent to all 96 Democratic primary candidates in King County, including candidates for Senator, Governor, Attorney General, etc. This certainly includes Sen. Maria Cantwell, who sponsored a bill in the Senate last session, and Gubernatorial candidate Jay Inslee who, as a Congressman has co-sponsored Rep. Maurice Hinchey's version of Glass-Steagall, H.R. 2451.

Bob Ferguson, current State Attorney General and the Democratic candidate, like every other responder to King County questionnaire, answered "Yes." He has been working with Beau Biden of Delaware, Eric Schneiderman of New York, and Kamala Harris of California, to put the banks too big to jail on notice for mortgage fraud.

LaRouche PAC volunteers are currently working their way through the list of Democratic candidates, and a preliminary look indicates that all 96 candidates have, in fact, endorsed H.R. 1489 and a return to Glass-Steagall.

This 96 does not include a half dozen or so independent, Libertarian, or Reform Party candidates who have endorsed H.R. 1489 and a return to Glass-Steagall. In fact, it can be expected that many, such as Independent candidate Larry Ishmael, when asked, will also endorse NAWAPA and national banking.