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Bankrupt Funds' Bailout Push Bars Mortgage Crisis Solution
by Paul Gallagher

As the U.S. home foreclosures crisis deepens, and mortgage banks and lenders sit on the edge of bankruptcy in the United States and in Europe, Congressional sources say that efforts to act on the crisis are being distorted by tremendous pressure on Congress from the hedge funds, investment banks, and their lobbies—pressure for a huge bailout of the funds by government housing agencies.
Such a bailout, under the guise of ``helping homeowners avoid foreclosure,'' would do no such thing—the admitted failure of a $100 million Ohio state mortgage refinancing plan, since May, has shown that. But it would turn Fannie Mae, Freddie Mac, the Federal Housing Administration, into so many additional Federal Reserve Banks, injecting hundreds of billions—as the Fed has already been doing—into a bailout of the hedge funds and their partners, the Wall Street investment banks, which created the monstrous speculative bubbles based on housing mortgages.

This Week's News

The LaRouche Show
3pm, Eastern Time
2000-2100 UTC
(live and archived)

(all but the 'In Depth' section.)

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The Anatomy of Russian Capitalism, by Stanislav M. Menshikov
March 23, 2007
—EIR News Service announced the publication of
The Anatomy of Russian Capitalism,
by Professor Stanislav M. Menshikov.

Translated from the Russian by Rachel Douglas, the book is an authoritative study of the Russian economy during the first 15 years after the break-up of the Soviet Union. The Preface, by EIR founder and contributing editor Lyndon LaRouche, titled, "Russia's Next Step," poses the need for U.S. policy-makers to study and grasp the "disease" presented in this book, since it represents "an economic global pandemic which we must all join to defeat."

Strategic Overview

Schiller Institute: Eurasian Land-Bridge Is a Reality
Some 350 people from 40 nations gathered in Kiedrich, Germany for two-day conference on the Eurasian Land-Bridge. Lyndon H. LaRouche, Jr. gave the keynote address. A first report—with more to come next issue.


Bankrupt Funds' Bailout Push Bars Mortgage Crisis Solution
Bailing out the hedge funds, commented Lyndon LaRouche, 'is the precise equivalent of spraying cold gasoline on a burning building,' spreading the fire into an international explosion of inflation and a dollar collapse.


Foreclosure Rates for Top 100 Metro Areas

Dead Crocodiles Found Beached on the Queen's Cayman Islands

Secretary Espy Stayed Farm Foreclosures


Fox News Spews Chicken Poop To Boost Cheney's Iran War
Cheney does have a plan to bomb Iran, but it has nothing to do with the anti-Iran chicken-poop propaganda that Anglo-Australian yellow media baron Rupert Murdoch is spreading through his news empire.

Africa Fears AFRICOM Will Create Conflicts


On a Fateful September Weekend:
This New Millennium of Ours!

Lyndon H. LaRouche, Jr. writes on the occasion of his 85th birthday. If we can muster the resolution to make emergency agreements among sovereign nations now, he writes, to deal effectively with the global financial-economic crisis, 'we will probably have defined the hopeful future for all mankind for at least a millennium to come.'


Bering Strait Tunnel, Alaska-Canada Rail:
Infrastructure Corridors Will Transform Economy

Infrastructure corridors built as part of the Bering Strait Tunnel project will generate a renaissance in manufacturing and infrastructure the United States and Canada, and will link the Americas to Eurasia and Africa.

U.S. Mortgage Crisis: Demise of an 'Importer of Last Resort'

Global Warming Update: Carbon Offsets Are Genocide

LaRouche Movement Organizes for a Nuclear Renaissance in Colombia

Vitus Bering and the Rediscovery of America
The man after whom the Bering Strait was named, was an intrepid Danish explorer (1681-1741), who helped carry out Leibniz's dream investigating the border between Asia and North America, as a way to promote the development of both.

Science & Technology

Maglev: Transport Mode for the 21st Century
Drs. James Powell and Gordon Danby tell how magnetic levitation can revolutionize world transport, in this article reprinted from 21st Century Science & Technology, Summer 2003. This article was presented as part of the proceedings of the Schiller Institute's Sept. 15-16, 2007 conference in Kiedrich, Germany.

Book Reviews

Gosselin: Canadian Patriot, Revolutionary
George Washington's French Canadian Spy,
by Henri Gosselin.


Republic vs. Empire: The Crucial Battle

All rights reserved © 2007 EIRNS

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