A major turn-around is emerging from some of the previously staunch opponents of Glass-Steagall bank separation. These shifts are no accident: People are getting the point that without Glass-Steagall there is no alternative to hyperinflation. What first took hold in London, when a group of senior bankers used the revelations of the LIBOR scandal to thrust Glass-Steagall into public debate, is now sweeping through the US in the wake of Sanford Weill's "epic conversion."
Here is a run down of recent editorials for Glass-Steagall:
- Financial Times on Sandy Weill's Damascus Road Conversion
- Los Angeles Times: We Need Glass-Steagall, Not Volcker Rule
- Crisis Also Converts The New York Times: Editorial for Glass-Steagall
- American Banker Magazine Says Weill's Call Rivets Washington, LaRouche's Glass-Steagall No Longer "Marginal"
- Finance Watch Publishes List of Bankers for Bank Separation
- Spitzer: Weill Finally Got It Right, Even If He Is To Blame
LaRouche PAC is in the midst of a two-week mobilization to get the first steps of a national program for recovery underway. The challenge now is ensuring the entirety of that three-fold program is grasped as a unit.