Lombardy Regional Councillors Write Sen. Warren on Glass-Steagall
November 29, 2013 • 9:06AM

Milan, Nov. 25, 2013

Dear Sen. Warren,

First of all, we would like to applaud your initiatives for Glass-Steagall in the US Senate. Your work is extremely important beyond the borders of your own country as well, since it aims at improving the social and economic conditions of the whole world.

The Lombardy Region in Italy has for centuries been the center of successful economic activities because of the entrepreneurial abilities of its population and administrators. However, in order to continue in this direction, we need an economic system which is able to produce, give credit and improve the living standards of the population through investments that favor the development of new productive technologies and infrastructure.

For this reason, as spokesmen of the political group led by the Governor of Lombardy Roberto Maroni, we introduced a resolution in the Regional Council of Lombardy, which was subsequently approved unanimously, demanding that the Italian government return to a traditional banking system inspired by the American model of the Glass-Steagall Act, in order to promote territorial and cooperative development.

We believe that it is of vital importance for our own survival, and for the survival of all of western civilization, to return to banking separation by restoring the Glass-Steagall Act in the United States, which can be an example for the other economies that have been devastated by decades of unbridled speculation.

Our best wishes to you. Your success is our success.

Stefano Bruno Galli

Antonio Saggese