PRESS RELEASE

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Major U.S. Union Endorses Glass-Steagall

May 9, 2011 (EIRNS)—The International Association of Machinists (IAM), with over 700,000 members in the United States, has endorsed H.R. 1489, to restore Glass-Steagall. In a May 6 radio interview in Cleveland, IAM international president Thomas Buffenbarger urged the passage of Ohio Rep. Marcy Kaptur's bill. The union's website features details on the measure, and this week, from May 9 to 13, more than 300 IAM officials and members will be in Washington, for the IAM's annual legislative conference. The union will spend two days on Capitol Hill, lobbying for a variety of bills, including the Kaptur measure.

Such pressure, and more like it, is urgently needed, since the more than 30 Congressmen who have "promised" their constituents or Lyndon LaRouche PAC representatives that they intended to cosponsor the bill, have so far "chickened out," to put it politely. There remain only four sponsors in addition to Kaptur: James Moran (D-VA), Walter Jones (R-NC), John Conyers (D-MICH), and Jesse Jackson Jr. (D-ILL).