Open letter to President Donald Trump:
Make good on your campaign statement to support the Glass-Steagall Act!
January 2, 2017
From: Our Revolution in Northwest Ohio
Endorsed by Cuyahoga County Progressive Caucus and by Ohio Revolution.
We the undersigned strongly feel the need for protecting our economy from another unnecessary market crash and recession like the one experienced in December of 2007. As you take office, the conditions for a collapse are too similar to those of 2007: rising asset values together with a lack of separation between FDIC insured banking and risk-investment brokering.
We applaud your campaign statement in Charlotte, North Carolina, October 26, 2016, endorsing a call for “A 21st Century version of Glass-Steagall.” and reintroducing a modern day Glass-Steagall Act. We trust that you understand that stabilizing the business climate and securing the assets as separate from Wall Street speculation is a key to prosperity during your administration.
To set the tone of discourse in Congress 2017, we ask that you restate your support for a Glass-Steagall Act during your State of the Union address.
Be assured in doing so, you will find common ground with both the Republicans and the Democrats since both party platforms have the support of banking legislation that separates insured accounts from Wall Street speculation in their respective platforms. Thank you for responding to the call from citizens, businesspersons, bankers and legislators as we move forward.
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Way back in 1999, Senator Sanders was fighting to stop the economic collapse that would happen a few years later.