Following a closed door meeting at the White House between the top Wall
Street bankers and President Barack Obama on Oct. 2, it has been revealed that
Wall Street has demanded that Obama stop the reinstatement of Glass Steagall at
all costs, and instead move ahead with more bailouts and bail-in looting of the
American people to preserve their thoroughly bankrupt system. The Wall Street
policy means an acceleration of crippling hyperinflation, devastating austerity
and, ultimately, mass murder of the nation's most vulnerable citizens.
Several highly qualified Washington sources have confirmed that this was the
ultimatum delivered by the Wall Street delegation that met privately with Obama
on Wednesday afternoon Oct. 2 at the White House. The delegation was organized
by the Financial Services Forum, a coalition of the nation's 19 biggest banks
and insurance companies, and included Jamie Dimon, CEO of JPMorgan Chase; Lloyd
Blankfein, CEO of Goldman Sachs; Brian Moynihan, CEO of Bank of America; Michael
Corbat, CEO of Citibank; and Anshu Jain, CEO of Deutsche Bank.
IMF Managing Director Christine Lagarde delivered the same message in an
interview with the Financial Times on Oct. 4, in which she demanded
that the Federal Reserve maintain the $85 billion a month quantitative easing
bailout of the top Wall Street and Europe banks indefinitely. And Treasury
Secretary Jack Lew, speaking for Obama, threatened that any U.S. default will
trigger a financial crisis far worse than the September 2008 meltdown.
The reality, as bluntly stated by Lyndon LaRouche today, is that the ongoing
government shutdown and threatened default on U.S. sovereign debt on Oct. 17 is
nothing more than an orchestrated swindle, aimed at conditioning the American
people for the murderous policies that have already been accepted by Obama and
by leading Congressional Republicans.
LaRouche warned: "Unless Glass Steagall is passed into law immediately, Obama
and Wall Street plan to unleash the worst mass murder austerity and looting of
the American people ever. The total separation of commercial banking from all
the gambling activities under Glass Steagall is the only remedy. Bankrupt Wall
Street now, before they can unleash their genocidal schemes full-force.
President Obama is nothing but a tool of these Wall Street interests, as
evidenced by his slavish commitment to maintain the bailout/bail-in program and
stop Glass Steagall."
LaRouche continued: "In a matter of days or weeks, Obama and his
Congressional Republican cohorts, on orders from Wall Street, are going to
unleash absolute Hell on the American public through even deeper killer
austerity cuts than the sequestration of the past months. The government
shutdown is the biggest dog and pony show ever, intended to prepare the
population to accept more hyperinflation, more bailouts and bail-ins, and
worsening conditions so that Wall Street can survive a bit longer while honest,
hard-working Americans die in ever greater numbers.
"It is time for Congress to break from Wall Street and the bankers stooge in
the White House, and do the only thing that can set the United States back on a
course of genuine prosperity: Pass Glass Steagall by a veto-proof majority this
week."
"By passing Glass Steagall, the vise-grip of Wall Street is immediately
broken. Once the too-big-to-fail banks are no longer kept alive by tax-payers
bailouts and depositor bail-ins, they go under. Good riddance! We are then left
with a viable but undercapitalized commercial banking system and with an
immediate opportunity to revive Federal government credit to launch great
economic projects like NAWAPA and an Apollo-style crash international program
for commercial thermonuclear fusion energy."
"The moment of truth has arrived," LaRouche concluded, "and I call on the
American people to demand that Congress stop behaving like a bunch of corrupt
fools, going along with the Wall Street Obama swindle. Pass Glass Steagall, wipe
out the power of Wall Street and their European allies, and get on with the
business of reviving this nation and the world around a plan of genuine
development, as my colleagues and I have spelled
out."
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