PRESS RELEASE

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Washington State Senators Call for Glass-Steagall Resolution

Jan. 13, 2017 (EIRNS)—A resolution calling on Trump and Congress to enact legislation reinstating the 1933 Glass-Steagall banking separation law has been submitted to the Senate of the State of Washington, by a group of five sponsoring senators. It states that

"the Glass-Steagall act was repealed in 1999, partially contributing to the greatest speculative bubble and worldwide recession since the Great Depression of 1933,"

and calls on

"Congress [to] enact legislation that would reinstate the separation of commercial and investment banking functions that were in effect under the Glass-Steagall act."