LaRouche: Why President Obama's Popularity has Suddenly Collapsed
March 24, 2009 • 4:25PM

Lyndon LaRouche today warned that President Barack Obama is being hoodwinked by some of his leading so-called economic advisers, and the consequences could be both the early destruction of his Presidency, and a global financial shock, that brings down the entire system. "This is why, over the past 48 hours, since the announcement of the latest bailout swindle, President Obama's approval rating with the American people has plummeted. It is the result of the President's apparent endorsement of this worst-yet bailout swindle," LaRouche explained.

"It is clear to me," LaRouche warned, "that the entire global financial system is hopelessly bankrupt, and that the behavior of some key American officials, including Larry Summers, Nancy Pelosi and Barney Frank is tantamount to treason." LaRouche explained: "The President is clearly unprepared to deal with the horrendous financial and monetary collapse that he has inherited, and he is being hoodwinked into endorsing policies that will only assure that the entire system blows. Otherwise, President Obama would never have gone along with the swindle announced yesterday by his Treasury Secretary, Tim Geithner. You cannot solve this worst financial and monetary crisis in modern history by turning over the keys to the banking system—at taxpayers expense—to a bunch of hedge fund thieves. Is the President prepared to squander another $6 trillion in taxpayers money over the period between now and April 15? That is what the plan announced yesterday by Secretary Geithner is going to mean.

"I know," LaRouche continued, "that Geithner is not the sole author of this swindle. He is the vehicle through which the scheme has been floated. I have no doubt that, ultimately, this plan was hatched in London, which stands to lose everything if the offshore hedge fund empire is shut down. So, we are not dealing with a well-meaning blunder. We are dealing with a policy that is intended to destroy the United States altogether. It is coming from a London-centered financial oligarchy that is out to wreck the United States, beyond repair. And people like Speaker of the House Nancy Pelosi and House Financial Services Committee Chairman Barney Frank are fully complicit in this treasonous effort. For them, and for people like Larry Summers, their complicity in this action is tantamount to treason. If the plan, announced on Monday by Secretary Geithner is allowed to go forward, this can be the trigger that detonates the crash of the entire global financial system. This will not just bankrupt the United States. It will bankrupt the world."

LaRouche concluded, "President Obama is, no doubt, well meaning, but he has been taken in. If this continues any longer, the U.S.A. will be finished. I do not wish to see that happen. I do not wish to see worthless and semi-worthless paper on the books of the banks bought up by taxpayers' dollars at 80 or 90 cents on the dollar, and turned over as assets of the very offshore hedge funds that have played such a pivotal role in the unfolding of this crisis. I am speaking in blunt terms, because the stakes are so great, and nothing short of the whole truth is going to serve the President's needs at this time."