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PRESS RELEASE


LaRouche Calls For Pelosi's Immediate Ouster As Speaker

July 10, 2008 (EIRNS)—This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).

Lyndon LaRouche today demanded Nancy Pelosi's immediate ouster as Speaker of the House, for her role in covering up for the City of London and Wall Street speculators who have driven up energy and food costs in a hyperinflationary spiral. "Pelosi has run a fraudulent side-show, to protect the speculators, and this is more than reason can tolerate," LaRouche charged. "She should be sent back to housekeeping, to defend the honor of all women."

LaRouche's latest call for Pelosi to be dumped, came, in part, in response to her role in suppressing all legislative initiatives in the House of Representatives to crack down on oil speculation. Three days of hearings in the House Agricultural Committee, chaired by Pelosi underling Rep. Colin Peterson (D-Minn.), were nothing short of a disgusting coverup of the role of speculators in driving up energy costs. LaRouche was also responding to an extraordinary letter, released by the Chairmen, Presidents and CEOs of every U.S. airline, which went out by email to "all airline customers" today. The letter read, in part:

"Twenty years ago, 21 percent of oil contracts were purchased by speculators who trade oil on paper with no intention of ever taking delivery. Today, oil speculators purchase 66 percent of all oil future contracts, and that reflects just the transactions that are known. Speculators buy up large amounts of oil and then sell it to each other again and again. A barrel of oil may trade 20-plus times before it is delivered and used; the price goes up with each trade and consumers pick up the final tab. Some market experts estimate that current prices reflect as much as $30 to $60 per barrel in unnecessary speculative costs."

The letter then explicitly referenced Franklin Roosevelt: "Over seventy years ago, Congress established regulations to control excessive, largely unchecked market speculation and manipulation. However, over the past two decades, these regulatory limits have been weakened or removed. We believe that restoring and enforcing these limits, along with several other modest measures, will provide more disclosure, transparency and sound market oversight."

LaRouche said, "The airline statement is correct," adding that this just adds further fuel to his demand for Pelosi's immediate ouster. Pelosi, LaRouche charged, has become a "tool of the very speculators" targeted by the airline executives. LaRouche cited the June 30, 2008 LaRouche PAC press release, exposing Pelosi's deep ties to mega-speculator George Soros, in addition to her well-documented, longstanding ties to Felix Rohatyn. From the moment that she was elected as Speaker of the House in January 2007, Pelosi hired George Soros operative Joseph Onek as her general counsel. Onek had been the chief policy advisor for Soros' Open Society Institute and its affiliated Open Society Policy Center, before being hired by Pelosi.

"With the entire financial system coming apart, rapidly," LaRouche concluded, "the kind of treachery that we have seen coming from Pelosi, on behalf of Rohatyn, Soros, and their ilk, has just reached the point where it is no longer tolerable. If this nation is to survive, Pelosi must be dumped now."