April 24, 2008 (LPAC)--Lyndon LaRouche responded today to the Bank of England's $100 billion bail-out of Britain's thoroughly bankrupt financial institutions, led by the Royal Bank of Scotland, with appropriate scorn. LaRouche took exception to the remarks of the London Guardian's chief economic editor Larry Elliott, who also attacked Bank of England Governor Mervyn King's announcement that the bank would take in worthless mortgage-backed securities and other "toxic" paper as "collateral" on hundreds of billions of dollars equivalent of freshly minted British government bonds. Elliott called the King plan a fraud, describing the Bank of England as "a giant pawnbroker." He elaborated, "You take your dodgy stuff to the pawnbroker, and he gives you something less than its market value."

LaRouche corrected Elliott, noting that the Bank of England is behaving more like a gigantic "porn shop," doing obscene things while the world financial system and the global economy crashes.