- (LPAC) -- Those were Lyndon LaRouche's words on Thursday,
describing two of the latest fascist innovations to come from the Obama
White House, Treasury Department, and Federal Reserve.
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- On Thursday, Treasury Secretary Tim Geithner appeared
before Barney Frank's House Financial Services Committee, to release a
proposed reorganization of the bank regulatory system, that would, in effect,
wipe out the use of bankruptcy reorganization, to deal with the hopelessly
bankrupt financial system. Under the new swindle, bank holding companies,
and other "non-banks", would be exempted from bankruptcy court
proceedings, and, instead, would be put through reorganization by an Executive
Branch "Financial Services Oversight Council." There are now
minimally $5-6 trillion of worthless "toxic waste" liabilities
on the books of the big banks, and the proposed "reform" would
establish a $10 billion Financial Company Resolution Fund, to deal with
these "too big to fail" institutions. You see the fraud! All
of the B.S. aside, the essence of this "reform" would be to gut
the U.S. Federal Constitution's credit system and provisions for bankruptcy
reorganization on behalf of the general welfare.
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- Combine this latest swindle with the fact that the Fed
has, through its zero-interest rate policy, created a "dollar carry
trade," which is creating a gigantic new financial bubble.
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- Lyndon LaRouche commented on these developments by focusing
on the "criminal intent of these measures." He fully endorsed
the denunciation of the Geithner/Frank scheme by Rep. Brad Sherman (D-Cal.),
who called it "TARP on steroids." LaRouche explained, "Even
though this latest scheme by Geithner, Bernanke, Barney Frank, et al. will
not live, it is the criminal intent behind it that must be targeted. If
this swindle is allowed to go forward, it will be a recipe for the total
collapse of the entire financial system. It must be stopped. It is boiling
down to genocide against the American people."
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- The same genocidal swindle was reflected in several other
events of the day, including the laughable fake data, coming out of the
government, claiming that GDP for the third quarter of 2009 jumped by 3.5
percent! "On the basis of past performance," LaRouche immediately
reacted, "we can presume that the GDP data is fraudulent. Everything
this Administration has done with respect to the economy and the financial
system has been one big lie. We have not yet carefully reviewed the latest
phony data, but we can be certain that the evidence is there of one more
lie in the series of wild hoaxes."
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- The same "genocide" label can be affixed on
the Obama Administration's response to the swine flu pandemic, which continues
to spread all over the country and around the globe. On Thursday, in its
weekly conference call status report, the Centers for Disease Control (CDC)
once again admitted that the amount of H1N1 vaccine that would be produced
this year would fall far short of initial estimates. LaRouche responded,
"It is so obvious they are lying. This swine flu issue is the hottest
issue on the planet, and once again, we hear last-minute announcements
of unexpected failure to deliver the adequate supply of vaccine. It is
only fair to ask: Did they ever really intend to deliver the vaccine?"
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