August 17, 2007 (LPAC) -- Thomas Mayer, chief economist for Deutsche Bank, penned an op-ed in the Wall Street Journal today showing the level of stupidity which has destroyed this once production-oriented bank. First, he praised the way former Fed chief Alan Greenspan "saved" the financial system in Oct. 1987 by flooding the economy with liquidity. Lyndon LaRouche has long demonstrated that the Greenspan "solution" to the 1987 crash was precisely the source of the biggest bubble in human history, which is now threatening to drag the world into a new dark age. Not coincidentally, Deutsche Bank hired Greenspan last month as an adviser, hoping he could help get them the bailouts he was famous for as head of the Fed.

The second whooper by Mr. Mayer was a comment about the Oct. 1987 crash, writing that "the precise causes of the crash have never been fully discovered." In fact, the cause was known seven months before it happened, when Lyndon LaRouche published the following warning on May 26, 1987, after describing the financial bubble of that time: "Whether the great financial crash of 1987 erupts by October, or later, will depend on what leading governments do at the international monetary 'summit' held in Venice on June 12. [If] the U.S. government's role at Venice will be a continuation if the foolish international monetary policy which the Reagan administration has followed over the past five years..., a crash in October would not be absolutely certain, but it would be, at least, a very good guess." It is recommended that Mr. Mayer take heed of LaRouche's advice this time, as he did not the last.