IL SR2418

Urges Congress to restore Glass-Steagall Act provisions and pass HR 381 (House) and S. 1709 (Senate) to separate investment and commercial banking.

Calls for establishing a national banking and federal credit system modeled on Alexander Hamilton's First Bank of the United States and Abraham Lincoln's National Banking policy to finance infrastructure and manufacturing projects.

Requests federal credit system funding for high-speed rail networks, power generation systems, water projects, and critical infrastructure in cities including Flint, Chicago, and Philadelphia.

Identifies commodity price collapse (oil down 70%, other commodities down 10-70%) and $300 trillion derivatives bubble as sources of economic crisis requiring immediate federal action.

Directs copies of resolution be sent to President Obama, House Speaker Paul Ryan, Senate Majority Leader Mitch McConnell, and all Illinois Congressional Delegation members.