October 13 2008 (LPAC)--The dismal results of the raft of meetings over the past few days to deal with the financial crisis underscore that there is simply no viable institution to effectively address it. This points to the need for Lyndon LaRouche's proposed four power arrangements as a new institutional authority to fill that vacuum.

Since Friday, the G-7 finance ministers, followed by the G-20 finance ministers, and the IMF's International Monetary and Financial Committee have held meetings in Washington with no results except to agree on a set of principles that mean little. Simon Johnson, former chief economist of the IMF and now a senior fellow at the Peterson Institute for International Economics, who is concerned about "the markets," told the Washington Post that "You need specific, concrete steps, not a list of principles that are obvious and everyone can easily agree to." Guido Mantego, Brazil's finance minister and chairman of the G-20, meanwhile, lamented that the G-20 was not created to deal with a crisis. "There is no structure to deal with an emerging economic problem," he said.

Actually, there is. LaRouche's four power arrangement of the U.S., Russia, China, and India could deal with the crisis. LaRouche outlined the necessary steps in his October 1st Webcast, titled: The Program for World Economic Recovery."