August 31, 2007 (LPAC)--According to Sueddeutsche.de, Horst Metz, the Finance Minister of the German state of Saxony announced his resignation on Friday effective on September 30 as a consequence of the crisis at the SachsenLB. As Finance Minister Metz was also the chairman of the Board of Directors of the SachsenLB. Metz continued to defend the emergency sale of the SachsenLB the previous weekend without the agreement of the Parliament as required by the Constitution. The Chairmen of the parliamentary groups had accepted a two-day suspension of the Constitution as urged by the State Governor Georg Milbradt.

Today it was also announced that the CEO of SachsenLB, Herbert Suess resigned from his post effective Sept. 15 to be replaced by Joachim Hoof. In addition, management board members Yvette Bellavite-Hoevermann and Werner Eckert were removed from the board by the company, which did not give a reason for the move, according to Forbes.

LaRouche said today don't get fooled and fixated by this local crisis, this is a crisis within a Global crisis.