Aug. 24, 2007 (LPAC)--"Even in the streets of Berlin, Saxony's state bank has become a topic: Biggest banking crisis since 1931 -with this panic slogan, the Buergerrechtsbewegung Solidaritaet (Bueso) went before the stock exchange..." reported Saechsische Zeitung, yesterday, in an article portraying the financial meltdown under the headline "Unrest among Bankers." Saechsische Zeitung, published in the Saxon state capital of Dresden, is the leading news daily of the state. The Bueso is the German political party led by Helga Zepp-LaRouche.

The unrest is growing, as new rumors have it that Sachsen Landesbank (LB) kept a much bigger wheel turning through its Dublin, Ireland-based international branch with a bubble of altogether 65 billion euros. The question is posed in Germany's press today, how much of that actually is sub-prime and other junk loans. At its Ormond Quay Fund in Dublin alone, Sachsen LB admitted to 3.5 billion euros, or 20 percent of the entire 17.5-billion operation there, as being sub-prime loans. And the banker in charge of the Dublin branch, Stefan Leusder, resigned last night, when the news on the 65 billion broke. More resignations and dismissals are expected.