Executive Intelligence Review
Subscribe to EIR

PRESS RELEASE


LaRouche Drafted the Policy To Get Out of This Crisis—There Is No Way Around It!

Jan. 14, 2009 (EIRNS)—This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).

n the midst of the flurry of activity over TARP or No TARP sweeping Capitol Hill, Lyndon LaRouche took the occasion to re-emphasize the fundamentals of the situation. First, LaRouche drafted the policy to get out of the breakdown crisis which erupted at the end of July 2007. It's called the Homeowners and Bank Protection Act, and it called for protection for the chartered banks, no foreclosures, and the dumping of the mortgage-backed securities and other derivatives products—as the first step in a full bankruptcy reorganization. Under those preconditions, the U.S. government could launch a full-scale infrastructure program, with cheap government credit for needed infrastructure projects.

Second, this policy was blocked by Senator Christopher Dodd of Connecticut, and Rep. Barney Frank of Massachusetts, both of whom should be held responsible for the disasters which followed (assuming Frank is competent to do so).

Third, there is no alternative to Lyndon LaRouche's solution. It must be implemented—we cannot have future generations paying for the hyperinflationary disaster which these Congressmen are leading us into. The fact that Congress, so far, has either been too corrupt, or has been unwilling to face the reality that only LaRouche's solution will get us out of this breakdown crisis, has led them into a panic. It is up to constituents to address this situation, immediately.