Citizen Communication_Vaughan C. Yaklin re Derivatives MarketJeanne Schneider - "Contact Us" inquiry from City of Dubuque website
From: "Citizen Support Center" <dubuqueia @mycusthelp.com>
To: <jschneid @cityofdubuque.org>
Date: 06/11/2010 1:50 PM
Subject: "Contact Us" inquiry from City of Dubuque website
Contact Us
Name: Vaughan C. Yaklin
Phone: (563) 581 -3644
Email: vcyaklin @gmail.com
City Department: City Council
Page 1 of 1
Message: Members of the Dubuque City council, as a citizen disturbed by the recent 'bank bail -out' and subsequent inaction
on the part of our nation's congress to pass any substantial reformative legislation reining in the derivatives market as
promised by the Obama administration, I request your consideration of the attached resolution, and that it may be included in
the order of business at the next council meeting. Thank you.
file: / /C: \Documents and Settings \jschneid \Local Settings \Temp \XPgrpwise \4C123F23DB... 06/14/2010
aRouche
POLITICAL ACTION COMMITTEE
To Save Our Nation
Congress Must Pass Glass- Steagall
and Shut Down Derivatives Now!
DRAFT RESOLUTION ISSUED MAY 24TH 2010 • LAROUCHEPAC.COM
While the U.S. Congress, especially the Senate, is being tied up with all kinds of silliness, the fact of the matter is that a warning
shot for the dissolution of the entire world financial system has already taken place. The world as a whole stands on the edge of a sud-
den, overnight collapse, which will make the 1,000 point drop in the Dow Jones on May 6 look like a small perturbation. We could wake
up one morning, and find that we have no financial system at all. The immediate key to this situation is the derivatives. The derivatives
markets must be shut down now! The U.S. government must be forced to take the same action, immediately.
There are tens of thousands of American patriots now mobilizing to enforce the Glass - Steagall principle, and they must escalate
their efforts, with a clear understanding of the danger. The issue of the derivatives gamblers, which Senator Dodderer is moving to
protect, is inextricably linked with the Glass - Steagall issue. We must insist that the derivatives markets be shut down now. And we
must immediately put in place the Glass - Steagall standard of separation between the commercial and investment banks, to protect
our people from chaos, and establish the basis for the recovery program which I have laid out in detail.
- Lyndon H. LaRouche Jr., May 20th 2010
WHEREAS, the leadership of the U.S. Senate has sabotaged the inclusion of the Cantwell - McCain Glass- Steagall
amendment into the so- called financial reform bill, thus leaving our banking system vulnerable to the ongoing blowout
of the world financial system, as such is anticipated by the current freeze -up of bank lending, and the 1000 point "flash"
drop in the U.S. stock market; and
WHEREAS, that same leadership, under pressure from the Obama Administration and Wall St., has similarly removed
any significant enforcement mechanism from that "reform" bill in respect to the trading of derivatives, and has given
every indication, as of May 24, that they intend to remove the Lincoln amendment which imposes restrictions on banks'
trading in derivatives, from the bill entirely during Conference discussions with the House of Representatives; and
WHEREAS, the re- imposition of the Constitutional Glass- Steagall principle that separates commercial from specula-
tive banking, and the shutdown of the hundreds of trillions dollar derivatives casino —both measures which have been
strongly promoted and supported by leading economist Lyndon LaRouche —are the indispensable, and inseparable,
first steps for saving the U.S. economy, and creating the basis for the launching of a real economic recovery program
based on massive infrastructure projects;
THEREFORE, be it resolved that demands that Congress immediately act to pass the
Cantwell- McCain Glass- Steagall amendment (or law), and to adopt measures which will lead to the shutdown of the
derivatives market, starting with the Cantwell- Lincoln amendment to the Dodd bill.
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Seattle, WA 206 -417 -2363
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