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Blanche Lincoln Victory Reflects
Anti-Wall Street Popular Mood

June 9, 2010 (EIRNS)—The victory of incumbent Democratic Senator Blanche Lincoln, in her primary run-off yesterday, reflects the escalating anti-Wall Street mood of the U.S. electorate. Lincoln, the author of an anti-derivatives measure which remains in the Dodd financial "reform" bill, had been targetted for removal by the bankers' lobby, who worked through MoveOn and the SEIU to challenge her re-election. Despite spending millions of dollars, however, SEIU-backed Bill Halter fell short, with 48% to Lincoln's 52%.

One of Lincoln's most significant assets was former President Bill Clinton, who mobilized his supporters, and devoted the last three weeks to working for Lincoln's re-election.

Senator Lincoln herself also benefited from her emphasis on the fact she was taking the point against Wall Street, with her anti-derivatives measure. Wall Street spokesmen have repeatedly demanded Lincoln's defeat, in their attempt to kill the anti-derivatives measure, and had anticipated that her defeat would allow them to get the Senate leadership, and the White House, to follow through on their commitment to protect the derivatives.

It is precisely this anti-Wall Street mood of the U.S. population which the Lyndon LaRouche Political Action Committee is mobilizing to implement the full emergency measures required to save the collapsing financial system from disintegration: Restore Glass-Steagall and ban derivatives.