Geithner and Hank Paulson Frantic To Stop Glass Steagall

May 7, 2010 (LPAC)—Both former Treasury Secretary (and Goldman Sachs CEO) Hank Paulson, and his buddy and successor Timmy Geithner were on the Hill today, supposedly being grilled on the crash by the "Financial Crisis Inquiry Commission" (the phoney Pecora Commission set up by Nanci Pelosi). Instead of answering for their crimes, they frantically argued against the "threat" that Glass-Steagall is coming back.

Timmy addressed Glass-Steagall and the Blanche Lincoln bill to stop commercial banks from initiating derivatives: "To create stability, some argue, we should just separate banks from risk.... We cannot make the economy safe by taking functions central to the business of banking, functions necessary to help raise capital for businesses and help businesses hedge risk, and move them outside banks, and outside the reach of strong regulation."

Paulson was most direct: "In our haste to deal with the flaws in the non-bank financial system, we should not move ourselves back to a system of consolidated, monolithic commercial banks."

Lyndon LaRouche, after a big laugh, noted that 78% of the population now backs Glass-Steagall, and that Hank and Timmy are simply confessing their sins — except they are trying to confess to Satan!

 WEBCAST 8. May

 http://www.larouchepac.com