LaRouche: Only Federal Bankruptcy Reorganization Can Get Us Out of This Breakdown Crisis

July 28, 2008 (LPAC)--As bankers and other policymakers scramble in panic to try to bail out the sinking banking system, economist and former Democratic Presidential candidate Lyndon LaRouche issued the following statement this morning:

“Anyone who is pushing new bailout and buyout schemes is clinically insane. We are in a general breakdown crisis, with a financial crash fully on. Bailouts and buyouts cannot work, and will only make matters worse. The only solution is Federal bankruptcy reorganization, the tried-and-true Constitutional policy of the American System of Economics, to get us out of crisis.”

LaRouche added that LPAC has launched an investigation to find the impeachable official who is pushing the bailouts and buyouts, which would be deadly to the interests of the United States. As LaRouche had noted in his denunciation of mega-bailout package which went through Congress July 25-26, “these idiots are out to sink the Dollar,” and thus are violating their oath to defend and protect the Constitution and the interests of the United States.

On a lighter note, LaRouche said that Rep. Barney Frank (D-MASS) should henceforth wear a purple shirt with yellow polka dots, because his behavior shows he clearly is a dinosaur. The alternative would be to wear a purple shirt with yellow stripes--to highlight his cowardice in the face of the crisis.

LaRouche devoted his July 22 webcast to a full explication of his Three-Step Solution to the systemic crisis.