LaRouche Speaks On "Firewalls" To an Italian Parliament Commission
September 21, 2007 • 12:50PM

Economist and statesman Lyndon LaRouche, who on Tuesday called the Federal Reserve's inflationary emergency interest-rate cut "the only thing worse than raising interest rates in this crisis," was in Rome Sept. 20-21 meeting government officials about his proposal for national actions to protect real economies from the financial collapse, as with "firewalls" of protection. His visit followed his keynoting the Schiller Institute's historic conference on a New Bretton Woods and Eurasian Land-Bridge infrastructure development, in Wiesbaden, Germany.

LaRouche presented to the Italian parliamentary commission the principles of his proposed "national economy firewall" against the financial collapse, the Homeowners and Bank Protection Act for the United States, to the Labor and Social Security Commission of the Italian Senate. This followed his individual meetings with government and parliamentary officials on Wednesday. LaRouche was invited by the Commission to relate his role in stopping Bush's attempt to privatize Social Security in 2004-05, and how that fight is linked to the current global financial crisis. He also described his fight to save the auto industry, and the capitulation to its destruction by the U.S. Congress.

LaRouche emphasized that to regain credibility, governments must commit to actions protecting and promoting the general welfare, rather than kow-towing to the hedge funds whose wild speculative bubbles triggered the ongoing financial and bank crisis. The chairman of the Commission asked to receive the Homeowners and Bank Protection Act, and documentation on the collapse of the financial system. From the Rome visit, an Italian application of LaRouche's concept, a national firewall for the Italian economy, is being designed by interested officials there.