The LaRouche Plan
The Basement Project
Detroit—Arsenal of Democracy, Or Test-Case For Fascism • Whitepaper
Detroit: Test Case For Genocide • Documentary
This Article Appears in the Dec. 13, 2013 EIR, reprinted with permission
[head] - WALL STREET GENOCIDE -[/head]
Judge Steven Rhodes’s Detroit bankruptcy ruling last week to commit genocide against retirees on behalf of Wall Street, signaled that the banking vultures are preparing to go after pensions around the country, even in those many states whose constitutions theoretically safeguard pensions.
The urgency for passage of a Glass-Steagall law could not be clearer.
Obama Administration sources have leaked to the Wall Street Journal that a "final" Volcker Rule may be promulgated during the week of Dec. 9. Treasury Secretary Lew made a triumphal, anti-Glass-Steagall speech Dec. 3 to the Pew Trust's Systemic Risk Council (Paul Volcker and Sheila Bair, co-chairmen), claiming that "too-big-to-fail has been ended."
Michigan Council 25 of AFSCME and the Detroit "sub-chapter" of AFSCME retirees on December 3rd filed with the Bankruptcy Court in Detroit, a notice of appeal to the U.S. District Court in Detroit, against the oral ruling from the bench that day in the City of Detroit bankruptcy-eligibility trial.
Wherever the policy is enacted, Austerity kills. That has always been the intention of the policy of the Anglo-Dutch Empire, and the effects are such when implemented, be it by the Obama Presidency or the EU system.
Here are several examples of this policy, beginning in the recent days in Detroit.
An impassioned call for the implementation of Glass Steagall in Greece, Europe and the United States was delivered by a major opposition leader in an address before the Greek Parliament. This call was made on 8 December by Mr.
The recent visit of Independent Hellens leader Panos Kammenos to Washington, D.C. to lobby for Glass Steagall has begun to receive coverage in the Greek media.
Detroit is not a systemically important bank, and the process is anything but orderly, but it is being liquidated in a process which directly imitates the Bank for International Settlements' horror-fantasy known as a big bank "bail-in".
Lyndon LaRouche yesterday ripped into the recent Federal Bankruptcy Court ruling, upholing Detroit's petition for bankruptcy protection in violation of the Michigan State Constitution's guarantee of all state and municipal pensions. As the result of the bankruptcy plan, Detroit municipal workers and retirees will lose 95 percent of their pensions, which is tantamount to a death sentence for many.