Nothing mysterious about LaRouche and Glass-Steagall

There seems to be some confusion among some observers regarding a possible link between Lyndon LaRouche followers, some South Dakota legislators and a letter calling for restoration of the old Glass-Steagall federal banking regulations. There is a clear connection. In fact, the Legislature considered a resolution last winter on the topic. Eighteen senators from both major parties, led by Republican Tim Begalka of Clear Lake, put their names on the resolution, as did 51 House members from both parties. There are big names on the sheet, including many of the parties’ leaders in each chamber. The goal of SCR 6 was to urge separation of banking activities, so that investments would be apart again from commercial functions. The Senate voted, after some strong debate, to approve the resolution 19-16, as LaRouche activists watched from the gallery and passed out literature. The House agreed on a vote of 67-2 (the nays came from Republican Tim Rounds of Pierre and Democrat Susan Wismer of Britton). To see the legislative record and the resolution, go to this link:

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About Bob Mercer

I am a newspaper reporter in Pierre where I cover state government, issues and politics for the Aberdeen American News, the Black Hills Pioneer, the Mitchell Daily Republic, the Pierre Capital Journal, the Rapid City Journal, the Watertown Public Opinion and the Yankton Press & Dakotan. I began covering the Legislature in 1985 and have lived in Pierre since December 1986. I grew up in Wisconsin, worked my way through college, took my first full-time newspapers jobs in Wyoming, and have lived in South Dakota since the summer of 1984 when I moved to Aberdeen to join the American News. I worked for the Rapid City Journal as its state government reporter in Pierre from late 1992 through late 1998. I spent four years as press secretary and a senior aide to Gov. Bill Janklow during his fourth and final term from late 1998 through 2002. I returned to journalism in January 2003 as a self-employed reporter, providing state government coverage to the Mitchell, Watertown, Spearfish, Pierre and, depending on the year, Aberdeen newspapers. In 2008, the Aberdeen American News offered to hire me as full-time member of the AAN staff, with my reports continuing to be available to the Mitchell, Watertown, Spearfish, Pierre, Yankton and Rapid City papers. The new arrangement has been in effect since January 2009 as the seven papers continue their remarkable dedication to their readers and the general public, as the only South Dakota news outlets with a full-time reporter covering state government in Pierre throughout the year. In addition to focusing on the Legislature during the annual winter session and its various activities during the interim periods between sessions, I spend many days throughout the year -- traveling as often necessary -- to cover state government boards and commissions which oversee the state universities, technical institutes, outdoors, water, environment, business, public schools, banking, agriculture, utilities, health care and various other areas of public interest. I purposely don't register to vote because of my profession; the last time I recall voting in a presidential election was the first time, 1976, when I had just turned 18. I think I voted for Jimmy Carter over Gerald Ford. Make of that what you want, just don't make much of it.

One thought on “Nothing mysterious about LaRouche and Glass-Steagall

  1. jeannie

    Bob Mercer was of course right in writing that ” There is No Mystery About LaRouche and Glass Steagall”. The LaRouche movement has a record of active organizing in SD for twenty years. It is absolutely no secret that LaRouchePAC is organizing for Glass-Steagall everywhere in the nation.In fact, California just became the 25th state to introduce a Glass-Steagall resolution in the legislature.SD was the first state to pass a Glass-Steagall resolution in February.

    LaRouche’s support for Glass-Steagall is written into California Concurrent Resolution 73,which cites the bills in the U.S. House of Representatives and Senate ,and is followed by a whereas clause which identifies the support from “diverse” groups and individuals, citing among others the AFL-CIO, AFT and IAM; Thomas Hoenig, David Stockman; economists Luigi Zingales and Lyndon LaRouche; Robert Reich; and various state legislatures.”

    There is no mystery to it. If anybody wants to figure out the link between LaRouche and Glass-Steagall they need only go to the Glass-Steagall page on the organization’s website.

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