Soros, Carlyle Group Say Locusts Will Take Over; LaRouche Says `This is Fascism'
June 26, 2008 (EIRNS)With the banks bankrupt, and the investment banks collapsing, George Soros says not to worry the private equity funds will save us all. In a joint interview in the British Prospect Magazine with his British brothers Martin Wolf (Financial Times), Anatole Kaletsky (London Times), and John Gieve (Deputy Governor of the Bank of England), Soros said the financial sector is "overblown," and that it should shrink. Who will benefit? "If we do pass through this without a hitch," said the blood sucker, "you will find that the private equity funds wil replace the investment banks as the dominant force in the economy, because they are the ones who are now buying the assets."
LaRouche immediately identified this as pure fascism, exactly of the sort being demanded by Michael Bloomberg and the Rockefeller Foundation.
The drive was backed up by another of the leading Private Equity funds, the Carlyle Group. Today's Wall Street Journal runs an op-ed by two of Carlyle's managing directors, Olivier Sarkozy (Nicolas Sarkozy's half-brother) and Randal Quarles, a former Bush Treasury official. It is modestly titled: "Private Equity Can Save the Banks." Noting that the financial services industry has so far taken about $350 billion in losses, they add: "This is only the beginning," saying losses will go to $1 trillion (one wag in Leesburg noted that the oligarchs are now getting to within a few orders of magnitude of the true figure). But, the Carlyle boys argue, the Private Equity firms have "demonstrated the ability to shoulder risk and improve efficiency and profitability," so: do away with the "needless regulations, restrictions and disincentives" against the unregulated hedge funds and private equity funds. I.e., usher in Mussolini fascism.