July 29, 2008 (LPAC)--Pete Peterson, through his Peter G. Peterson Foundation, is funding a major campaign to impose austerity upon the American people, in the name of dealing with our massive debt. America's debt load is indeed a serious problem, but Peterson is, as they say, part of the problem, not part of the solution. Lyndon LaRouche has identified the Nixon Administration's move to destroy FDR's Bretton Woods fixed-currency system as the act which opened the door to the speculative horrors which followed, and bankers' boy Peterson was right in the middle of it. Peterson had been hired by George Shultz as an assistant to President Nixon to head the White House team writing the justification for taking the dollar off of the gold standard. Peterson himself was from the Lazard stable, and when he went to Washington his blind trust was administered by Lazard's Felix Rohatyn. After his yeoman's work in destroying the stability of the dollar and opening the U.S. up for the British assaults which followed, Lehman was tapped by George Ball to be vice-chairman of Lehman Brothers, where he quickly became chairman. Peterson, whose reputation for self-importance, arrogance and pomposity is the stuff of near legend, was later forced out of Lehman, but used the riches he had gained there to form Blackstone Group, one of the largest of the private-equity pirates.

Having become a billionaire by his active participation in creating the largest financial bubble in history, one which has created a class of mega-billionaires while pushing the people in the lower income levels off the cliff, this stuffed-shirt jackass now has the temerity to lecture to us that we--our need for health care, education, and other necessities of life--are the problem! Perhaps if Pirate Pete and his banker buddies had not destroyed the productive capacity of the U.S. economy with their deregulation/globalization scam, and had not devastated the government's tax base with their never-ending tax breaks for corporations and speculators, and turned the most powerful and productive economy the world had ever seen into an giant bankrupt casino, then we wouldn't be deep in debt with no way to pay for it.

We say to Pompous Pete: Why don't you shut up! We don't need billionaire parasites blaming the poor for being broke, we need an economy free of the likes of you and your fellow pirates. The first step in solving this problem is a flea dip, ridding our economy of the influence of parasites like you. Your financial system is broke and you are doomed, so shut up and let the adults fix the mess you silly twits have caused. We need American System economics, not British economic fascism.