A satire published on TheModerateVoice.com, by columnist Michael Silverstein, tells the story of how "Mr. B." [Blankfein] enounters the Goldman Sachs washroom attendant, Selig Cartwright, who remarks that Mr. B. is "white as a sheet," and asks why. "They did it again, Selig," Mr. B. replies. "They spray painted those nine horrible words on our front entrance.

In response to a briefing on Glass-Steagall today, reform Greek SYRIZA Party leader Alexis Tsipras responded by saying it "sounds like a good idea." According to Bueso TV's on-the-spot camera crew, led by Stefan Tolksdof, it was the most intelligent question at a press conference held by Tsipras in Berlin following his meetings with leaders of the German Die Linke party.

The growing derivatives-loss crisis at JPMorgan Chase continues to drive a renewed urgency for the restoration of the Glass-Steagall Act, beginning with its overdue introduction into the U.S. Senate.

The Friday, May 11th admission by JPMorgan CEO Jamie Dimon of a $2 billion + loss in derivatives has fueled a furious escalation of discussion around the need for the reinstatement of Glass Steagall. LaRouchePAC continues to lead the fight for the need for Glass Steagall and the necessary followup of a policy of a credit system in the tradition of Alexander Hamilton. For an in-depth examination of what the significance of the JPMorgan loss is- that it is not a simple gambling loss of one isolated bank, but is a signal of the bankruptcy of the entire system, read the latest article by EIR economics editor, John Hoefle, JP Morgan Fiasco Shows Need for Glass-Steagall.

FLASH: A second township in Greene County PA has passed the NAWAPA resolution. The Gilmore Township Board of Supervisors at their meeting last night (Monday night) joined Morgan Township in endorsing the NAWAPA Plan, including Glass Steagall.
Greene County produces more than half the coal in Pennsylvania, and is the second-largest coal-producing county in the United States, including the #1 and #2 largest-producing underground coal mines in the U.S.A.

In the flurry of renewed interest in Glass Steagall in the middle of this situation, three new cosponsors have signed onto Marcy Kaptur's H.R. 1489, Dale Kildee, (D-MI), Edward J. Markey (D-MA), and Karen Bass (D-CA).

Among the most recent significant additions of support behind Glass Steagall is the May 4, 2012 endorsement by the International Union of Operating Engineers (IUOE) local 302 of LPAC's Emergency Resolution on Glass-Steagall, national banking, and NAWAPA.

Monday morning's Forbes features yet another call for Glass-Steagall, this one by "contributor" Sy Harding. "Bringing Back Glass-Steagall Would Rebuild Shattered Confidence In Wall Street" reviews G-S history from 1930s, as a response to excess greed by banksters.

Lyndon LaRouche characterized the explosion of Glass-Steagall developments in the wake of the JP Morgan Chase blow out as "impressive, if not adequate" today, adding that the public mobilization spreading through Congress and among economists and analysts is also supported by developments not yet in public view.

Italian stock exchange regulator Giuseppe Vegas departed from his written speech at the annual meeting with stock market traders on May 14, to call for reintroducing banking separation. Separating investment banks from commercial banks, Vegas said after pointing to the JPMorgan case, "would lead to a better knowledge of risks and to defining more targetted cautious rules."

The new worldwide momentum for Glass-Stegall, in light of JPM Chase's escalating losses ($5 billion mooted on page 1 of the Wall Street Journal today), coupled with the looming bankruptcies of Greece and Spain, and the demise of the EU, has prompted some borderline insane "pushback" on Massachusetts Democratic Senate candidate Elizabeth Warren's recent decision to champion Glass-Steagall.

The May 31 Irish referendum on the EU's fascist "Stability Treaty" could be the third European national vote against the EU's supranational austerity regime, following rejections of it in French and Greek elections.

A well-placed U.S. intelligence source has confirmed that several government law enforcement and intelligence agencies have corroborated many of the charges made against HSBC's New York office by former bank vice-president- turned-whistle-blower, John Cruz.

Multiplying "investigations" by the FBI, Senate Committees, etc. are grandstanding with the JPMorgan Chase derivatives fiasco, but the law Morgan disastrously broke, is the one Congress disastrously repealed in 1999.

The Eurozone banks, loaded with perhaps five trillion euros of bad debts, were starting to slide visibly toward the abyss of a new bank crash yesterday — one that continues to be fraudulently described in nearly all media as a "Greek," "peripheral nation" or "EU breakup" crisis rather than the huge bank blowout that it is.

LaRouchePAC endorsed candidate Diane Sare (NJ-5) educates the American electorate on the urgent need of Glass-Steagall as demonstrated by the recent developments concerning the continued demise of JP Morgan's Chase.

The following is a statement by LaRouchePAC endorsed Congressional Candidate Diane Sare, NJ - 5

As more and more people realize that the JPMorgan/Chase trading losses are just the tip of the iceberg, more calls are being heard for the restoration of FDR's Glass-Steagall law. One noticeable omission in many of these statements is that they do not call for action on HR 1489 — the bill to restore Glass-Steagall that is already introduced in the House.

Though timidly, a debate in Italy has broken out on leaving the euro and on separating banks.

With hysteria growing over Greece leaving the Euro, a run on Greek banks underway, and reports of a run on Italian banks beginning after Moody's downgrade of 26 Italian banks, Spain's Prime Minister Rajoy found himself haplessly warning on national television on Wednesday that Spain is in danger of being locked out of capital markets, on the eve of Thursday's bond auction.

Monday's endorsement of Glass-Steagall by Massachusetts U.S. Senate Democrat candidate Elizabeth Warren, has met with huge media coverage, and her Glass-Steagall petition request exceeded its goal of 50,000 signatures, in less than 24 hours!

What does the recent JP Morgan Chase loss mean? The chain-reaction that makes 'your money' futile is at your doorstep.

What can lead us to avoid a suicidal panic? LaRouche's latest strategic assessment is here.

by Rachel Brown, current candidate for US House of Representatives from the state of Massachusetts and member of the LaRouche national candidates movement for federal Congress