Whereas, during recent events in Cyprus, the European Union sought to confiscate personal accounts, including insured accounts, for a bank bailout;
And whereas the Open Bank Resolution of the Bank of International Settlements considers holders of personal accounts "creditors" and hence subject to "losses" during a bailout;
And whereas millions of Americans have entrusted their money to banks for safekeeping;
Be it resolved that the President of the United States, Barack Obama, shall issue this statement:
"Neither the Federal Reserve, the U.S. Treasury, nor any other governmental or international body shall ever levy deposits from U.S. personal bank accounts for the purpose of a bank bailout."
The President shall enforce this statement with appropriate regulations.