Part of the literary art project exploring the wide landscape of love by Rolf A. F. Witzsche
Love in Politics, History, and Economics 

LaRouche's Homeowner and Bank Protection Act

presented by Rolf A. F. Witzsche

the elegant (Sublime) solution and its harmonizing principles

If Adolf Hitler, the fascist madman of the Nazi Empire had developed the military capability to bomb America's factories and the homes of its citizens society would have spared no effort to destroy the Nazi Empire and its military machine. Indeed, the free society of the world has done this, and at an enormous cost. It turned the flood of war against Hitler, in what became World War II in which 50 million people fought each other and fifty million died. The war ended when the Nazi military machine was deprived of its resources and ground to a halt.

The same fascist empire that set up Hitler as one of its stooges is threatening the world once again. This time more severely. The war of empire versus civilization did not end with World War II. It is a war that is not rooted in governments, monarchies, or public institutions. It is a private war by a " slime-mold oligarchy" according to its 'business' practice and effect on society, as Lyndon LaRouche describes it, that is spread across a square mile of the City of London, the financial district inhabited by some of the worst sewer creatures found on the planet, the masters of fascism, the masters of empire, a creeping fungus, misnamed empire, uttering genocide for profit.

The slime mold used to be called the British Empire when it was small. It's history is rooted in Venice, the Venetian Empire, and later in the Netherlands. Then the slime mold invaded England and set up the world's largest completely private profit-centered financial world empire. But like a dry-rot fungus, the slime mold spread far and wide, across the Atlantic via the infamous Atlantic Alliance, engulfing the USA and likewise other nations. And individually too, everyone who cuddles up to the slime mold to share in the looting gets eaten alive. The slime mold eats their humanity and destroys it, and turns the invaded victim into a servant of empire. The world is full of these servants of empire, acting as the strong arm of empire, the looting financiers that feed the empire, the mouthpieces of empire that are spewing forth sophistry, and so forth. 

The empire now stands as a tower of Babel and a tower of babble -- the babble of the sophistry that is essentially a flood of sophisticated lies: 'In Lies We Trust!' Sophistry is the babble resulting from the 'art' of the intentional sophistication of lies as an efficient means to hide the truth. It is one of the most powerful weapons ever developed by empire for its cultural warfare against mankind. What Hitler could only dream of, the slime-mold empire has now accomplished by inducing America and civilized society as a whole to destroy itself. It took 50 years to accomplish that. LaRouche had warned society for decades about the intention behind the process. Now the effects are becoming evermore openly visible. The financial fascism became reflected in looting; then in the destruction of industries; then in the rise in unemployment, and the rise in prices, poverty, homelessness, and war; with the last increment being the mortgage crisis that is now threatening the mass-eviction of people from their homes (which has already begun), and the collapse of the chartered banks (which is about to occur).

In this crisis, which threatens the nation as a functioning entity, and the world as a whole, portending a New Dark Age, the international statesman and expert economist, Lyndon LaRouche, has issued a proposal for legislation that is designed as a firewall to prevent the collapse of civilization at this late stage, and as a first step for rebuilding the world. The proposed legislation became known as:

LaRouche's Homeowners and Bank Protection Act of 2007

The following release was issued by the Lyndon LaRouche Political Action Committee 
(LPAC) and Executive Intelligence Report News Service  (EIRNS), on Aug. 22, 2007

The Lyndon LaRouche Political Action Committee is mobilizing to get Congress, on return from recess after Labor Day, to enact the Homeowners and Bank Protection Act of 2007. This is legislation that Lyndon LaRouche proposes as the only means, at this late date, for stopping millions of home foreclosures and evictions this year and next, and for launching a larger process of bankruptcy restructuring of the U.S. and global dollar-based financial system, which is now already doomed. Governors and state legislators all across the United States will enthusiastically join in this effort, which some leading bankers and Democratic Party figures, briefed on LaRouche's proposal, have already declared is "doable" and the "only salvation" for the American people.

Here are the essential features of LaRouche's 
Homeowners and Bank Protection Act of 2007:

  1. Congress must establish a Federal agency to place the Federal and state chartered banks under protection, freezing all existing home mortgages for a period of how ever many months or years are required to adjust the values to fair prices, restructure existing mortgages at appropriate interest rates, and write off all of the cancerous speculative debt obligations of mortgage-backed securities, derivatives and other forms of Ponzi Schemes that have brought the banking system to the point of bankruptcy.
  2. During this transitional period, all foreclosures shall be frozen, allowing American families to retain their homes. Monthly payments, the effective equivalent of rental payments, shall be made to designated banks, which can then use the funds as collateral for normal lending practices, thus recapitalizing the banking system. Ultimately, these affordable monthly payments will be factored into new mortgages, reflecting the deflating of the housing bubble, and the establishment of appropriate property valuations, and reduced fixed mortgage interest rates. It is to be expected that this process of shakeout of the housing market will take several years to achieve. In this interim period, no homeowner shall be evicted from his or her property, and the Federal and state chartered banks shall be protected, so they can resume the traditional functions, serving local communities, and facilitating credit for investment in productive industries, agriculture, infrastructure, etc.
  3. State governors shall assume the administrative responsibilities for implementing the program, including the "rental" assessments to designated banks, with the Federal government providing the necessary credits and guarantees to assure the successful transition.

By September-October, unless this legislation is enacted as a first order of business of the 110th Congress in September, many millions of Americans will be evicted from their homes, setting off a process of social chaos that must be avoided. The freezing of foreclosures is the vital first step in a thorough reorganization.

Under this plan, the Federal Reserve System will be, itself, put through bankruptcy reorganization, and transformed into a Third National Bank of the United States. As developed in Lyndon LaRouche's just-released draft platform for the Democratic Party, these actions shall be complemented by the creation, by treaty agreement among leading nation-states, of a new Bretton Woods System, based on fixed exchange rates, and long-term treaty agreements for large-scale development projects on a global scale.

LaRouche said the foreclosure tsunami is occurring, not in a mere housing crisis or mortgage crisis, but a disintegration of the entire global financial system. There is no bottom to this collapse—unless a legislative fire-wall is created now, and a halt to the income drain on the population, brought on by the hyperinflationary debt bubbles created by Alan Greenspan and his ilk.

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