On the Urgency of Passing the Glass-Steagall Law: An Argentine Former Governor Writes to the Congress of the United States
May 11, 2013 • 10:15AM

The following letter from a former Argentine Governor was directed to the Congress of the United States.

May 9, 2013

Dear Congressmen:

For many years now, the economic, monetary, and financial system imposed on the world has been causing grave problems: it mercilessly destroys the dignity of human beings, privileges speculation and even usury while punishing real effort.

Poverty, unemployment, and drug consumption are growing at an accelerating rate, to the extreme that, once evening falls, the downtown areas of our major cities are transformed into dangerous zones where drugged, desperate and hopeless young people of both sexes gather. In my tormented and beloved country, this is something never before seen, even while we possess all the resources necessary to guarantee the well-being of twenty times the [size of] the current population.

Maintaining the present situation makes us accomplices to a genocide both brutal and suicidal, as no one will escape the intensifying decadence that will culminate in an explosion of violence and anarchy already looming on the horizon.

Please, members of the U.S. Congress, it is urgent that you pass the proposed law to restore Glass-Steagall which, in my judgment, will represent the beginning of the wished-for moral and material recovery of our nations.

With kind regards,

Dr. Hector Claudio Salvi

Former Governor, Santa Fe province, Argentina; coordinator of the Great National Waterway Project; lawyer, author of several books and conference speaker