South Dakota Legislators Sign Letter Demanding Glass-Steagall Hearing
October 6, 2013 • 12:37PM

Thirty-four South Dakota state legislators, including 8 members of the State Senate, have signed a letter to Sen. Tim Johnson, the chairman of the Senate Banking Committee, calling on him to hold hearings on the Glass-Steagall legislation currently pending in the U.S. Senate. South Dakota's legislature was the first in the nation to pass a resolution in support of Glass-Steagall, last February, a fact referenced in the letter. The full text of their press release and letter follow:

PRESS RELEASE

On October 3rd, the letter below, signed by an additional bipartisan group of South Dakota legislators, bringing the total to 34, was hand-delivered to Senator Johnson's Sioux Falls, S.D. office rather than his Washington office because of the government shutdown in our nation's capital. Thirteen present and former legislators had signed the original letter, which was made public on July 29th. Since Senator Johnson, chairman of the Senate Banking Committee, had still not held hearings on Glass-Steagall, even while the momentum for support of its reenactment was growing on a daily basis, it was clear the time had come to expand the number of legislators urging him to open up hearings on passage of the Glass-Steagall bill.

To: Senator Tim Johnson, Chairman U.S. Senate Banking Committee

C/C:N
Sen. Maria Cantwell
Sen. Thomas Harkin
Sen. Angus King
Sen. John McCain
Sen. Barbara Mikulski
Sen. Elizabeth Warren
Sen. Sheldon Whitehouse
Sen. Bernie Sanders

WE, the undersigned South Dakota legislators, by virtue of the overwhelming passage of SCR 6 in the last S.D. legislative session, call upon you, as Chairman of the Senate Banking Committee, to hold immediate, emergency hearings on the reinstatement of the Glass-Steagall Act. There is strong support for the Glass-Steagall Bills in the Senate and the House. Our people are facing economic and psocial ruin. The collapse of Detroit, which used to be the U.S. "arsenal of democracy," is the handwriting on the wall for economic ruin across our once-strong United States.

You follow in the footsteps of the great South Dakotan Peter Norbeck. You must act as he did in the present crisis that threatens to be more terrible than the Great Depression of his time.

Signed

State Senator

Tim Begalkap
James Bradford
Jason Frerichs
Ried Holien
Phil Jensen
Ryan Maher
Jeff Monroe
Chuck Welke

State Representative

Julie Bartling
Kevin Killer
Jacqueline Sly
Stace Nelson
Don Kopp
Jim Stalzer
Jim Bolinp
Betty Olson
Isaac Latterell
Manny Steele
Christine Erickson
Jim Peterson
Elizabeth May
Kathy Tyler
Dennis Feickert
James Schaefer
Mike Verchio
Troy Heinert
Kyle Schoenfish
Steve Hickey
Dean Schrempp
Charles Hoffman
Karen Soli

Former State Legislator

Frank Kloucek
Patty Miller
Lyndell Petersen

For further information contact: Tim Luke 605-413-6621 [email protected]