September 1, 2007—Physical Economist Lyndon LaRouche issued an emergency statement on the morning of Sept. 1st to spell out precisely what must be done in the face of the biggest crash in modern history. LaRouche made it clear that if we don't pass his Homeowners and Bank Protection Act of 2007, there will be no protection against what will hit the U.S. and the world, very soon.
He began: "This is Lyndon LaRouche speaking. We are faced with the greatest financial crisis, globally, which has been known to humanity in centuries. This goes far beyond the experience of the immediate period following the World War, such as the Great Depression of 1930s, but we can handle it."
"I've produced a piece of proposed conception of legislation, which will do the job. I have proposed legislation by the Federal government, which will go into emergency implementation, which must be passed within the month of September, because the month of October is enormously dangerous: We dare not risk proposing anything beyond the early part of September. The action must occur by both Houses within September, as emergency legislation, with sufficient support from both Republicans and Democrats in those bodies, to create a bill which will resist a Presidential veto, a veto-proof bill."
What LaRouche sets forth is the only proposal that will succeed. There are no other options. What LaRouche has set forth, nothing more nor less, is what is required.
Click here for the transcript. Or here for the audio (MP3 Audio, 1.92Mbytes)
For more information on how the financial system was bankrupted see Debt is Not an Asset, by John Hoefle (EIR).
