Lyndon LaRouche Quotes
Wall Street is the only factor in the U.S. economy, which really keeps Obama still in office. He couldn't have made it, otherwise.
LaRouche, Lyndon H. LaRouche PAC Webcast. LaRouche Political Action Committee, 2013.
The Stock Market went up slightly as a result of his efforts.
When the stock market crashed, the Board of Governors was entertaining the idea of putting a syndicate of banks together or back some financiers who would buy up the stock that people were trying to sell. There were those who wanted to sell but no buyers at any price. They concept of a market was being destroyed. Lamont correctly explained that the idea was not practical—it was too late for that. Lamont however had underestimated the market crash and made a feeble effort to assist President Hoover make his feeble effort to get the American economy going again.
There was a financial crisis in the country and the world when highly risky home mortgage loans defaulted leaving investors and speculators in mortgage-backed securities in a poor position. The investors had been reaping very high interest rates for their risky investments, but this was the first time that this form of risky investment had failed. The investors, of course were looking for a bailout from government. When the Bush administration failed to bail out investment bank, Lehman, there was a panic and the banking system of the country and much of the world froze up. Bush and his Secretary reversed their bailout of speculators policy and provided various assistants and bailouts to the very bankers and other investors who had caused the economic meltdown. The policy was continued by the Obama administration although the bailouts were just as distasteful to Obama as they were to Bush, but most economists agree that the two presidents very distasteful and unpopular bailout actions probably saved the nation from a massive depression. After being bailed out by the taxpayers, the Bankers then paid themselves exorbitant bonuses while the results of their management put 10 percent of the country out of work.
Few politicians ever admit publicly to this truism, but all in private tend to agree, Inflation is complex and it takes a number of factors to control it.
Lyndon Hermyle LaRouche Jr. was an American political activist, convicted fraudster and cult leader who founded the LaRouche movement and its main organization the National Caucus of Labor Committees (NCLC).