`Bush Trying To Rob the Treasury
on His Way Out'
July 30, 2008 (EIRNS)This release was issued today by the Lyndon LaRouche Political Action Committee (LPAC).
That was the comment of Lyndon LaRouche in response to the announcement by the Federal Reserve today that it is both extending and expanding the emergency lending facilities it created over the last eight months to hide the insolvency of the U.S. banking system. The Fed has made no secret that it's commitment to bailing out the banks is open-ended, as has the Bush Administration with its proposals aimed at protecting the real estate-related assets in the banking system. Even an open-ended bailout will not be enough to save the banks, because the bailout programs create even more debt that has to be bailed out, increasing the debt exponentially.
"The regulators are afraid of Bush," LaRouche said. "First he bankrupted the nation, and now he is trying to steal what's left on his way out."