PRESS RELEASE
LaRouche PAC Exposes Debate Lies
of Barney Frank
Sept. 13, 2010 (EIRNS)—In the week following the historic Sept. 7 debate between LaRouche Democrat Rachel Brown and incumbent Congressman Barney Frank, both of whom are competing to become the Democratic Party nominee for Congress from Massachusetts' 4th C.D., the Lyndon LaRouche Political Action Committee (LPAC) has taken on the job of exposing the Congressman's lies. As one Washington insider put it, it would be easier to enumerate the truths the Congressman told, than the multitude of lies.
The following lies are documented and highlighted on the LaRouche PAC website.
First, Frank continuously lied about his role in supporting the repeal of the FDR Glass-Steagall legislation. In its Glass-Steagall video feature and several Off-the-Cuff newscasts, LPAC provides quotes and footage of the Congressional debate which show that Frank lied about his vote.
Secondly, Frank claimed falsely that Glass-Steagall would not have prevented the explosion of derivatives and other fraudulent lending which triggered the financial blowout. LPAC documents that AIG, whom Frank cited as the worst derivatives offender, would not have been able to carry out its shenanigans, if Glass-Steagall had not been repealed.
Thirdly, Frank blatantly lied that he worked to protect only banks that did not participate in speculation and such "razzle-dazzle,' citing specifically his actions in favor of State Street Bank and Fidelity. LPAC-TV has produced a special feature on the lies about State Street, entitled "The Truth About State Street Bank," which tells the real story, including citations by the Securities and Exchange Commission earlier this year against State Street, among other things.
