Question 2 at the fifteenth Friday webcast by Lyndon LaRouche addressed to the American people.
President Obama lied to the American people saying that the bailout was necessary. It was not. When he came into the presidency confronting a crisis worse than the great depression, he continued the bailout policy and refused to enact the only law that would have prevented the further disintegration of the United States, the Glass-Steagall policy.
This weekend Spain is set to ask for a bailout ahead of schedule, demonstrating the rate of collapse of the financial system moves faster than any bailout attempt. The only solution is the re-implementation of the Glass-Steagall Act.