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Glass-Steagall Showdown Will Decide Your Future
by Jeffrey Steinberg and Nancy Spannaus

May 18—As this issue of EIR goes to publication, the U.S. Senate has yet to debate and vote on the Cantwell-McCain amendment to the Dodd financial reform bill, which would reinstate the Glass-Steagall Act's separation of commercial banking from investment banking and insurance.

Lyndon LaRouche today identified the passage of a new Glass-Steagall Act as an existential issue for the United States and for the world. Unless the Senate passes the Cantwell-McCain amendment (S.A. 3884), restoring Glass-Steagall, ``the world just goes to Hell. Either we wipe out the quadrillions of dollars in illegitimate assets from the books of the banks, or the United States and the entire planet have no protection against a near-term precipitous collapse into a new dark age.''

LaRouche emphasized that the passage of Glass-Steagall is a pivotal first step. Once the U.S. commercial banking system has been restored, under Constitutional standards, we can next look to Western Europe and Russia. ``But, the first crucial step must take place here, in the United States,'' LaRouche explained....

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The Anatomy of Russian Capitalism, by Stanislav M. Menshikov
March 23, 2007
—EIR News Service announced the publication of
The Anatomy of Russian Capitalism,
by Professor Stanislav M. Menshikov.

Translated from the Russian by Rachel Douglas, the book is an authoritative study of the Russian economy during the first 15 years after the break-up of the Soviet Union. The Preface, by EIR founder and contributing editor Lyndon LaRouche, titled, "Russia's Next Step," poses the need for U.S. policy-makers to study and grasp the "disease" presented in this book, since it represents "an economic global pandemic which we must all join to defeat."

This Week's Cover

  • LaRouche Webcast:
    The Greatest Crisis in Modern History

    In a webcast address May 8 from Northern Virginia, Lyndon LaRouche discussed first the immediate crisis the world faces, and the unique opportunity presented by the Cantwell-McCain amendment in the U.S. Senate, which calls for reinstating the Glass-Steagall law. 'The people behind McCain-Cantwell and so forth,' LaRouche said, 'are acting not as factitious politicians, they're acting as patriots. And the guys who oppose them are not acting as patriots! Because, if the British system goes down, the euro system goes down—as it will go down—one way or the other, it's doomed! This system is finished, and nobody can save it.' The second part of his presentation was a scientific discussion of what we can (and must) do next, if we succeed in getting the Glass-Steagall amendment passed. The transcript includes an extensive question-and-answer period.

National

  • Glass-Steagall Showdown Will Decide Your Future
    Lyndon LaRouche said on May 18 that the U.S. Senate's passage of the Glass-Steagall separation of commercial and investment banking is an essential step toward global recovery. 'If the Senate forces through the Cantwell-McCain amendment, and the President is forced to sign it into law,' he said, 'despite his own desperate efforts to kill the amendment, then this will create the opportunity for several crucial European countries to break free from the total breakdown collapse they now face.'

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