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LaRouche HBPA Introduced to Kentucky State Senate

Jan. 31, 2008 (EIRNS)—This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).

The Homeowners and Bank Protection Act of 2007 promoted by the LaRouche Political Action Committee was introduced today into the Kentucky State Senate, and assigned the number S.R. 90.

Its two sponsors are Sen. Perry Clark (D-Louisville), and Sen. Joey Pendleton (D-Hopkinsville). Hopkinsville is the birthplace of Abraham Lincoln, one of the great representatives of the American system of political economy.

S.R. 90 is modelled on the Pennsylvania resolution, H.R. 418. It calls for a freeze on foreclosures, protecting Federal and state chartered banks, while "writing off speculative debt obligations of mortgage-backed securities, financial derivatives, and other forms of financial pyramid schemes that have brought the banking system to the point of bankruptcy." The full text of the resolution is available at www.larouchepac.com.