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Take Pre-Emptive Action: Glass-Steagall In, Obama Out Now!

Oct. 10, 2015 (EIRNS)—Coming off a week of national mobilization, including an intense day of lobbying in Washington, D.C., the LaRouche Political Action Committee’s weekly Thursday activists’ call of Oct. 9 featured a discussion of what kind of followup was needed. The following overview by Jeffrey Steinberg, who conducted the call this week on behalf of Lyndon LaRouche, summarizes the immediate perspective:

What it comes down to at this point is that Obama is greatly isolated, greatly weakened, and thoroughly discredited in the eyes of the world. I was up in New York City earlier this week, and I spoke to some people who were at the United Nations General Assembly, when Obama delivered his speech; and the general reaction was that people’s jaws dropped, at the hypocrisy, at the lies, and at the complete twisting of reality.

And so, we’re in a situation where Obama’s time in office is coming to an end, and our job in this context, is to make sure that he is promptly removed. Now, Mr. LaRouche has been very much focussed for weeks and weeks; when we prepare the Friday night webcasts, we have a long working meeting with both Lyn and Helga, and discuss the up-to-the-minute situation.

The bottom line is that the entire financial system is on the very edge of a complete meltdown blowout. From a political standpoint, there is no member of Congress who would dare attempt to promote a bail-out: I don’t care how much money they get from Wall Street, I don’t care how many blackmail files there are, there is no way, that there can be another bail-out. So you’re faced with a situation where either you preemptively reinstate Glass-Steagall, or you will be facing at some point,—and it could be tomorrow morning, it could be a week from now, it could be a month from now—but you’re facing the inevitability of an out-of-control blowout, in which there’s no more bail-out money. There’s no more political possibility of a bail-out; and you can forget bail-in. All of these things are absolute fantasy pipedreams. The American people and the vast majority of Congress know that they’d be facing pitchforks and lynch mobs, if they tried to enact those policies.

If you don’t get Glass-Steagall, you get chaos. You get a complete choking up the entire system, as Wall Street coming crashing down, in an uncontrolled fashion, and you get rioting in the streets, you get food shortages, you get power outages, you get an inconceivable amount of chaos.

So there must be a move before that crash happens, to reinstate Glass-Steagall. The instant that occurs, that’s the end of the Obama Presidency. He’s confronted with two choices at that point: either he vetoes Glass-Steagall, in which case the whole world explodes,—the American people, Congress in both parties explode against him; or, he goes along with it, and he’s finished by other means. He’s no longer got any power.

So the point is, this Glass-Steagall issue, while it does not solve the totality of the problem, it does finish off Wall Street. And it paves the way, as in that seven-point program, for a full return to a Franklin Roosevelt-modeled policy of economic recovery, of a science-driver recovery, and job creation.

So the point is: We’ve got obligations. We have leadership responsibility among ourselves, to make sure that before the crash hits, we’ve got Glass-Steagall through.

A Change on Capitol Hill

Now, some very interesting things came out of the discussions that took place around our rally yesterday afternoon on Capitol Hill; I had a chance today to talk to a number of people who were down there, and several people who have the overview of debriefing several of the regional delegations that were down there.

A few dramatic shifts: Number 1, that the issue of Obama’s removal is no longer something that’s in the category of wishful thinking. Leading members of Congress, and by the way, more Democrats than Republicans, came up to us, and when we said, "Obama’s got to go," they did not say, "well, we might wish it would happen, but it will never happen, so let’s talk about something else." They say, "we agree, and the question is, how does it happen? How do we do it?"

So there is a recognition of the crisis, of the fact that the Obama Presidency is up to the waist in quicksand, and we’ve got to make sure that he is removed, and that Glass-Steagall is reinstated. If we can accomplish that, then we’re on the path to doing everything, that needs to be done, and we’ll have also created the conditions, for avoiding the kind of war dangers that are coming up, because the Russian’s have seized the initiative in Syria.