Misplaced Pages

#754245

101-559: The Australian Citizens Party ( ACP ), formerly the Citizens Electoral Council of Australia ( CEC ), is a minor political party in Australia affiliated with the international LaRouche Movement which was led by American political activist and conspiracy theorist Lyndon LaRouche . The party has pushed conspiracy theories, including that international action on climate change and indigenous land rights are part of

202-404: A "Nazi", and has linked him to the murder of Aldo Moro . His followers heckled and disrupted Kissinger's appearances. In 1982, a member of LaRouche's Fusion Energy Foundation , Ellen Kaplan, asked Kissinger at an airport terminal if it were true that he slept with young boys; Kissinger and his wife, Nancy, were on their way to a heart operation. In response, Nancy Kissinger grabbed the woman by

303-1032: A "Woodcocksucker". The leadership of the AFL–CIO was also attacked. During the same period, the LaRouche movement was closely associated with the Teamsters union which was in a jurisdictional dispute with the UFW. LaRouche put substantial effort into his first Democratic Primary, held February 1980 in New Hampshire . Reporters, campaign workers, and party officials received calls from people impersonating reporters or ADL staff members, inquiring what "bad news" they had heard about LaRouche. LaRouche acknowledged that his campaign workers used impersonation to collect information on political opponents. Governor Hugh Gallen , State Attorney General Thomas Rath and other officials received harassing phone calls. Their names appeared on

404-589: A "drawn-in Hitler moustache" and "a picture of Speaker of the House Nancy Pelosi with Frankenstein-style bolts in her head." In July 2011, Seattle police were called by a LaRouche volunteer displaying "Obama with a Hitler-style mustache" picture at her stand, regarding a LaRouche opponent allegedly telling her "Look at me again and I'm going to punch your face." In another case, in June 2011, "the same officer

505-481: A Federal Reserve member bank could do directly and what an affiliate could do. Whereas a Federal Reserve member bank could not buy, sell, underwrite, or deal in any security except as specifically permitted by Section 16, such a bank could affiliate with a company so long as that company was not "engaged principally" in such activities. Starting in 1987, the Federal Reserve Board interpreted this to mean

606-424: A LaRouche organization, Royko said that leaflets appeared, alleging he had had a sex-change operation. He also said his assistant found a note with a bullseye and a threat to kill her cat on her door; Also according to Royko, LaRouche supporters picketed the newspaper offices, calling Royko a "degenerate drug pusher" and demanding he take an AIDS test. LaRouche supporters denied such charges, saying they were part of

707-556: A bill (known in each version as the Glass bill) to regulate or prohibit the combination of commercial and investment banking and to establish other reforms (except deposit insurance) similar to the final provisions of the 1933 Banking Act. On June 16, 1933, President Roosevelt signed the bill into law. Glass originally introduced his banking reform bill in January 1932. It received extensive critiques and comments from bankers, economists, and

808-542: A brawl, with chairs flying. Six people were treated for injuries at a local hospital. In the mid-1973 the movement formed a "Revolutionary Youth Movement" to recruit and politicize members of street gangs in New York City and other eastern cities. The NCLC allegedly trained some members in terrorist and guerrilla warfare. Topics included weapons handling, explosives and demolition, close order drills, small unit tactics, and military history. In November 1973,

909-455: A campaign against them by the "drug lobby." In 1984, Patricia Lynch co-produced an NBC news piece and a TV documentary on LaRouche. She was then impersonated by LaRouche followers who interfered with her reporting. LaRouche sued Lynch and NBC for libel, and NBC countersued. During the trial followers picketed the NBC's offices with signs that said "Lynch Pat Lynch", and the NBC switchboard received

1010-605: A climate conference occurring that year, was planning "massive population genocide‚ on a scale that would make Adolf Hitler blush" and the establishment of a "world government ". The party espouses the claim that the Port Arthur massacre , in which Martin Bryant murdered 35 people and injured 37 others, was instigated by mental health institute the Tavistock Institute on the orders of the royal family , and that

1111-545: A conscious fraud masterminded by Prince Philip , as part of the British Royal Family’s scheme to depopulate the planet. It ‘believes Prince Philip is trying to break up nation-states through the World Wide Fund for Nature and is involved in a "racist plot to splinter Australia"’. Founded in 1988, the party has been led by Craig Isherwood ever since. The original CEC was established in 1988 by residents of

SECTION 10

#1732766075755

1212-597: A death threat. A LaRouche spokesman said they had no knowledge of the death threat. An editor of the Centre Daily Times in State College, Pennsylvania reported that a LaRouche TV crew led by Stanley Ezrol talked their way into his house in 1985 implying they were with NBC, then accused him of harassing LaRouche and producing unduly negative coverage. At the end of the interview, Ezrol allegedly asked, "Have you ever feared for your personal safety?", which

1313-548: A follower shook hands with President George H. W. Bush at a campaign visit to a shopping center. The follower would not let go, demanding to know, "When are you going to let LaRouche out of jail?" The Secret Service had to intervene. During the 1988 presidential campaign, LaRouche activists spread a rumor that the Democratic candidate, Massachusetts Governor Michael Dukakis , had received professional treatment for two episodes of mental depression. Media sources did not report

1414-467: A former Office of Strategic Services operative, paramilitary trainer, and arms dealer. Some members allegedly took a six-day "anti-terrorist" course at a training camp operated by WerBell in Powder Springs, Georgia. In 1979, LaRouche denied that the training sessions took place. WerBell introduced LaRouche to covert operations specialist General John K. Singlaub , who later said that members of

1515-636: A full page advertisement in The Australian newspaper. In early 2008 the CEC started campaigning for a "Bank Homeowners Protection Bill of 2008", calling for legislation in the spirit of the Australian moratorium laws enacted in the 1920s and 1930s. The party follows the LaRouche line of denying the theory of anthropogenic global warming ; it claimed in 2009 that the Copenhagen Summit ,

1616-490: A full-length biography published in 1989. King alleges numerous instances of anonymous harassment and threats. Leaflets appeared from the NCLC accusing King, a newspaper publisher, and Roy Cohn , the newspaper's lawyer, of being criminals, homosexuals, or drug pushers. One leaflet included King's home address and phone number. In 1984, a LaRouche newspaper, New Solidarity , published an article titled "Will Dennis King Come out of

1717-513: A member bank could affiliate with a securities firm so long as that firm was not "engaged principally" in securities activities prohibited for a bank by Section 16. By the time the GLBA repealed the Glass–Steagall affiliation restrictions, the Federal Reserve Board had interpreted this "loophole" in those restrictions to mean a banking company ( Citigroup , as owner of Citibank ) could acquire one of

1818-466: A paranoid preoccupation with Nelson Rockefeller and the CIA." The movement strongly opposed Rockefeller's nomination for U.S. vice president and heckled his appearances. Federal authorities were reportedly concerned that the situation might turn violent. One target of LaRouche's attention has been Henry Kissinger . LaRouche allegedly has called Kissinger a "faggot", a "traitor", a British or Soviet agent and

1919-621: A photocopied "New Hampshire Target List" acquired by the Associated Press , found in a LaRouche campaign worker's hotel room; the list stated, "these are the criminals to burn – we want calls coming in to these fellows day and night". LaRouche spokesman Ted Andromidas said, "We did choose to target those people for political pressure hopefully to prevent them from carrying out the kind of fraud that occurred in Tuesday's election." New Hampshire journalist Jon Prestage said he

2020-518: A policy of ignoring the "infiltration by the neo-Nazi elements of Lyndon H. LaRouche", and said that too often, especially in the media, "the LaRouchites" are "dismissed as kooks". "In an age of ideology, in an age of totalitarianism, it will not suffice for a political party to be indifferent to and ignorant about such a movement", said Moynihan. Moynihan had faced a primary challenge in 1982 from Mel Klenetsky, an associate of LaRouche. In 1986,

2121-434: A reference to their anti-communist campaign of 1973 and to UAW president Leonard Woodcock . The movement staged demonstrations that allegedly turned violent. They issued pamphlets attacking the leadership as corrupt and perverted. The UAW said that members had received dozens of calls a day accusing their relatives of homosexuality, reportedly at the direction of NCLC "security staff". Leaflets called an Ohio local president

SECTION 20

#1732766075755

2222-780: A team of ten people, headed by James Bevel , to Omaha, Nebraska , to pursue the Franklin child prostitution ring allegations in 1990. Among the charges investigated by the grand jury was that the Omaha Police Chief Robert Wadman and other men had sex with a 15-year-old girl at a party held by the bank's owner. The LaRouche groups insisted there was a cover-up. They distributed copies of the Schiller Institute's New Federalist newspaper and went door-to-door in Wadman's neighborhood, telling residents he

2323-417: A trio of singers that included Fairchild and Chicago Mayoral candidate Sheila Jones. Illinois Attorney General Neil Hartigan 's home was visited late at night by a group of LaRouche followers who chanted, sang, and used a bullhorn "to exorcise the demons out of Neil Hartigan's soul". Before the primaries a group of LaRouche supporters reportedly stormed the campaign offices of Hart's opponent and demanded that

2424-474: A worker "take an AIDS test". In 1984, a reporter for a LaRouche publication buttonholed President Ronald Reagan as he was leaving a White House press conference, demanding to know why LaRouche was not receiving Secret Service protection. As a result, future press conferences in the East Room were arranged with the door behind the president so he can leave without passing through the reporters. In 1992,

2525-526: Is that the Glass-Steagall Act created a sense of accountability among investors within the financial management industry, encouraging them to (in effect) shy away from ultra-risky transactions that could lead to financial meltdown. It provided litigators validation involving cases against such sub-prime investment instruments on behalf of their clients who were impacted by such injustices. Without formal and defensible protection as detailed in

2626-432: Is National Secretary and National Treasurer Craig Isherwood of Melbourne , who has been an election candidate for the party numerous times. The ACP, citing historic figure King O'Malley as inspiration, lobbied for "the establishment of a National Bank and State Banks to provide loans at 2% or less to agriculture (family farms), industry and for infrastructure development", launching a petition in 2002 to drive support with

2727-600: Is headed by Helga Zepp-LaRouche , LaRouche's widow. It has nominated candidates for elective office and publishes the Neue Solidarität newspaper. Zepp-LaRouche is also the head of the German-based Schiller Institute . In 1986, Zepp-LaRouche formed the "Patriots for Germany" party, and announced that it would run a full slate of 100 candidates. The party received 0.2 percent of the 4 million votes and "failed to elect any candidates to

2828-401: Is headed by Élodie Viennot. Viennot supported the candidacy of Daniel Buchmann for the position of mayor of Berlin. Sweden has an office of the Schiller Institute (Schillerinstitutet) and the political party European Worker's Party (EAP). In Denmark, four candidates for parliament on the LaRouche platform (Tom Gillesberg, Feride Istogu Gillesberg and Hans Schultz) received 197 votes in

2929-461: The 2007 election (at least 32,000 votes are needed for a local mandate). The Danish LaRouche Movement (Schiller Instituttet)'s first newspaper distributed 50,000 copies around Copenhagen and Aarhus . The Movimento Solidarietà – Associazione di LaRouche in Italia (MSA) is an Italian political party headed by Paolo Raimondi that supports the LaRouche platform. Ortrun Cramer of

3030-604: The 2016 federal election , CEC fielded senate candidates in every state and the Northern Territory and seven candidates for seats in the House of Representatives . Nationally, the party received 5,175 votes (0.04%) in the lower house and 9,850 votes (0.07%) in the upper house. LaRouche Movement The LaRouche movement is a political and cultural network promoting the late Lyndon LaRouche and his ideas . It has included many organizations and companies around

3131-744: The Banking Act of 1933 and the Glass–Steagall Act of 1932 were southern Democrats : Senator Carter Glass of Virginia (who by 1932 had served in the House and the Senate, and as the Secretary of the Treasury); and Representative Henry B. Steagall of Alabama, who had served in the House for the preceding 17 years. Between 1930 and 1932, Senator Carter Glass (D-VA) introduced several versions of

Australian Citizens Party - Misplaced Pages Continue

3232-633: The Communist Party , and the SWP . These conflicts culminated in "Operation Mop-Up", a series of physical attacks by LaRouche's National Caucus of Labor Committees (NCLC) on rival left-wing groups. LaRouche's New Solidarity reported NCLC confrontations with members of the Communist Party and Socialist Workers Party, including an April 23, 1973 incident at a debate featuring Labor Committee mayoral candidate Tony Chaitkin that erupted in

3333-723: The Kingaroy region of Queensland . CEC candidate Trevor Perrett won the 1988 Barambah state by-election in Queensland , after former Queensland Premier Sir Joh Bjelke-Petersen resigned from State Parliament in 1987. However, Perrett switched to the National Party in December 1988. Members of the Australian League of Rights , an extreme right-wing group led by Eric Butler , tried unsuccessfully to take over

3434-649: The Transaqua project to divert water from the Congo River to replenish Lake Chad . The North American Labour Party (NALP) nominated candidates in federal elections in the 1970s. Its candidates only had 297 votes nationwide in 1979. LaRouche himself offered a draft constitution for the commonwealth of Canada in 1981. The NALP later became the Party for the Commonwealth of Canada and that ran candidates in

3535-760: The UN sanctions against Iraq in 1991 and the Gulf War in 1991. Supporters formed the "Committee to Save the Children in Iraq". LaRouche blamed the sanctions and war on "Israeli-controlled Moslem fundamentalist groups" and the "Ariel Sharon-dominated government of Israel" whose policies were "dictated by Kissinger and company, through the Hollinger Corporation , which has taken over The Jerusalem Post for that purpose." Left-wing anti-war groups were divided over

3636-593: The "Homeowners and Bank Protection Act of 2007", establishing a moratorium on home foreclosures and establishing a new federal agency to oversee all federal and state banks. He also promoted LaRouche's plan to build a high-speed railroad to connect Russia and the United States, including a tunnel under the Bering Strait . In 2009, a volunteer table in Mattituck, New York had a picture of Obama with

3737-495: The 1960s and 1970s, LaRouche was accused of fomenting violence at anti-war rallies with a small band of followers. According to LaRouche's autobiography, it was in 1969 that violent altercations began between his members and New Left groups. He wrote that a faction of Students for a Democratic Society which later became the Weathermen began assaulting LaRouche's faction at Columbia University, and there were later attacks by

3838-742: The 1960s, banks and non-banks developed financial products that blurred the distinction between banking and securities products, as they increasingly competed with each other. Separately, starting in the 1980s, Congress debated bills to repeal Glass–Steagall's affiliation provisions (Sections 20 and 32). Some believe that major U.S. financial sector firms established a favorable view of deregulation in American political circles, and in using its political influence in Congress to overturn key provisions of Glass-Steagall and to dismantle other major provisions of statutes and regulations that govern financial firms and

3939-571: The 1960s. In the 1970s and 1980s hundreds of candidates ran in state Democratic primaries in the United States on the 'LaRouche platform', while Lyndon LaRouche repeatedly campaigned for presidential nomination . From the mid-1970s, the LaRouche network would adopt viewpoints and stances of the far-right . During its peak in the 1970s and 1980s, the LaRouche movement developed a private intelligence agency and contacts with foreign governments. In 1988, LaRouche and 25 associates were convicted on fraud charges related to fundraising. The movement called

4040-662: The 1984, 1988 and 1993 elections. Those were more successful, gaining as many as 7,502 votes in 1993, but no seats. The Parti pour la république du Canada (Québec) nominated candidates for provincial elections in the 1980s under various party titles. The LaRouche affiliate now operates as the Committee for the Republic of Canada. The LaRouche Movement has a major center in Germany. The Bürgerrechtsbewegung Solidarität (BüSo) (Civil Rights Movement Solidarity) political party

4141-483: The 1999 Gramm–Leach–Bliley Act (GLBA), which repealed the two provisions restricting affiliations between banks and securities firms. By that time, many commentators argued Glass–Steagall was already "dead". Most notably, Citibank 's 1998 affiliation with Salomon Smith Barney , one of the largest U.S. securities firms, was permitted under the Federal Reserve Board 's then existing interpretation of

Australian Citizens Party - Misplaced Pages Continue

4242-512: The ADC's stating it was an antiracist organisation. Former members of the CEC and families of current members have accused the group of " brainwashing " members and engaging in campaigns involving "dirty tricks". For example, former CEC staffer Donald Veitch has claimed that new recruits undergo " deprogramming sessions" and that recruits are probed for sexual peccadilloes. Veitch has stated: "The mind control operations commenced by Lyndon LaRouche in

4343-542: The Australian Liberal Party was founded by pro-Hitler fascists. The CEC's policies have included introducing a national Glass-Steagall Act to "break up the banks", establishing a national bank, introducing a moratorium on home & farm foreclosures, constructing high speed rail and the Bradfield Scheme , joining China's Belt and Road Initiative , shutting down Pine Gap and opposing

4444-786: The Closet?", copies of which were distributed in his apartment building. Jeffrey Steinberg denied the movement had harassed King. LaRouche said that King had been "monitored" since 1979, "We have watched this little scoundrel because he is a major security threat to my life." Glass-Steagall Act As with the Glass–Steagall Act of 1932 , the common name comes from the names of the Congressional sponsors, Senator Carter Glass and Representative Henry B. Steagall . The separation of commercial and investment banking prevented securities firms and investment banks from taking deposits and commercial Federal Reserve member banks from: Starting in

4545-574: The Democratic Primary elections for the offices of Illinois Secretary of State and Illinois Lieutenant Governor respectively. Until the day after the primary, major media outlets were reporting that George Sangmeister , Fairchild's primary opponent, was running unopposed. More than two decades later, Fairchild asked, "how is it possible that the major media, with all of their access to information, could possibly be mistaken in that way?" Democratic gubernatorial candidate Adlai Stevenson III

4646-533: The Democratic congressional primary in Houston, Texas' 22nd District. The following day, a spokeswoman for the Texas Democratic Party stated that "La Rouche members are not Democrats. I guarantee her campaign will not receive a single dollar from anyone on our staff." In June 2012, Rogers won the Democratic congressional primary for a second time. In March 2014, Rogers received 22% of the vote in

4747-582: The FBI issued an internal memorandum, later released under the Freedom of Information Act . Jeffrey Steinberg, the NCLC "director of counterintelligence", described it as the " COINTELPRO memo", which he says showed "that the FBI was considering supporting an assassination attempt against LaRouche by the Communist Party USA." LaRouche wrote in 1998: The U.S. Communist Party was committed to putting

4848-403: The Federal Reserve Board. It passed the House on February 16, 1932, the Senate on February 19, 1932, and signed into law by President Hoover eight days later. The Senate passed a version of the Glass bill that would have required commercial banks to eliminate their securities affiliates. The final Glass–Steagall provisions contained in the 1933 Banking Act reduced from five years to one year

4949-450: The Glass-Steagall Act, investment companies felt at liberty to move toward unscrupulous investment tactics that had occurred prior to 2009 involving sub-prime mortgages. Thus a cultural shift was certainly in order after its repeal regardless of the loopholes that existed prior. Although the magnitude may be questionable, the repeal of the Glass-Steagall Act is considered a factor in the global financial crisis revealed in 2008. Following

5050-521: The Glass–Steagall Act. In November 1999, President Bill Clinton publicly declared "the Glass–Steagall law is no longer appropriate". Some commentators have stated that the GLBA's repeal of the affiliation restrictions of the Glass–Steagall Act was an important cause of the financial crisis of 2007–2008 . Nobel Memorial Prize in Economics laureate Joseph Stiglitz argued that the effect of

5151-551: The LaRouche Political Action Committee (LPAC) and its treasurer, Barbara Boyd, for going "in a direction which I consider contrary to the central policies that my husband stood for. ... [S]ince he passed away in February 2019, Mrs. Boyd and her associates ... have embarked on a path that I believe misrepresents both my and Mr. LaRouche's positions." and has stated that LPAC and Boyd do not represent

SECTION 50

#1732766075755

5252-482: The LaRouche movement worked to place an AIDS initiative, Proposition 64 , on the California ballot, which lost by a 4–1 margin. It was re-introduced in 1988 and lost again by the same margin. Federal and state officials raided movement offices in 1986. In the ensuing trials , some leaders of the movement received prison terms for conspiracy to commit fraud, mail fraud, and tax evasion. In 1988, Claude Jones won

5353-747: The LaRouche movement's involvement. In the United States Senate election in Wyoming, 2000 , the Democratic Senatorial nominee, Mel Logan, was a LaRouche follower; the Republican incumbent, Craig Thomas , won in a 76–23% landslide. In 2001, a "national citizen-candidates' movement" was created, advancing candidates for a number of elective offices across the country. In 2006, LaRouche Youth Movement activist and Los Angeles County Democratic Central Committee member Cody Jones

5454-450: The LaRouche movement. She has taken legal action against LPAC to "immediately cease and desist, both now and in the future" from "using Mr. LaRouche's name, likeness, and potentially other confusingly similar terms." LaRouche-affiliated political parties have nominated many hundreds of candidates for national and regional offices in the U.S., Canada, Sweden, Denmark, Germany, Australia and France, for almost thirty years. In countries outside

5555-470: The Labor Committees out of existence physically... Local law enforcement was curiously uncooperative, as they had been during prior physical attacks on myself and my friends. We knew that a 'fix' was in somewhere, probably from the FBI... We were left to our own resources. Tired of the beatings, we decided we had better prepare to defend ourselves if necessary. The FBI was allegedly concerned that

5656-505: The Philippines, and several South American countries. Lyndon LaRouche, who was based in Loudoun County, Virginia , United States, and his wife, Helga Zepp-LaRouche , based in Wiesbaden , Germany, regularly attended these international conferences and met foreign politicians, bureaucrats, and academics. According to London-based SciDev.Net, the LaRouche movement has "attracted suspicion for circulating conspiracy theories and advocating for grand infrastructure projects." The movement supports

5757-406: The Schiller Institute became a delegate of the Austrian International Progress Organization in the 1990s, but there is no sign of ongoing relationship. Nataliya Vitrenko , leader of the Progressive Socialist Party of Ukraine , has stated multiple times that she supports LaRouche's ideals. The LaRouche movement has been accused of violence, harassment, and heckling since the 1970s. In

5858-642: The Section 21 prohibition on securities firms taking deposits, neither savings and loans nor state-chartered banks that did not belong to the Federal Reserve System were restricted by Glass–Steagall. Glass–Steagall also did not prevent securities firms from owning such institutions. S&Ls and securities firms took advantage of these loopholes starting in the 1960s to create products and affiliated companies that chipped away at commercial banks' deposit and lending businesses. While permitting affiliations between securities firms and companies other than Federal Reserve member banks, Glass–Steagall distinguished between what

5959-446: The U.S. Senate Democratic primary, placing her into a runoff election with David M. Alameel. The Schiller Institute and the International Caucus of Labor Committees (ICLC) are international organizations associated by some with the LaRouche Movement. Schiller Institute conferences have been held across the world. The ICLC is affiliated to political parties in France, Italy, Germany, Poland, Hungary, Russia, Denmark, Sweden, Mexico,

6060-546: The U.S., the LaRouche movement maintains its own minor parties, and they have had no significant electoral success to date. In the U.S., individuals associated with the movement have successfully sought Democratic Party office in some elections, particularly Democratic County Central Committee posts, and been nominated for state and federal office as Democrats, although the party leadership has periodically voiced its disapproval. LaRouche ran for U.S. president eight times, in every presidential election from 1976 to 2004. The first

6161-446: The USA in the mid-1970s are still being practised today within his movement in Australia". Despite running in "almost every election of the past two decades", in no election has the CEC ever garnered more than 2% of the vote. At the 2007 federal election , the CEC's previous form continued. Its first preference votes in the lower house was 27,879 (0.22%), and 8,677 (0.07%) in the upper house, both results were 0.14% down from 2004. At

SECTION 60

#1732766075755

6262-510: The assassination of Jimmy Carter , Zbigniew Brzezinski , Joseph Luns , and David Rockefeller . In 1984, LaRouche said that he had employed WerBell as a security consultant, but that the allegations coming from Werbell's circle were fabrications that originated with operatives of the FBI and other agencies. In 1974 and 1975, the NCLC allegedly targeted the United Auto Workers (UAW), United Farm Workers (UFW), and other trade unionists. They dubbed their campaign "Operation Mop Up Woodcock",

6363-415: The chairmanship of the Harris County Democratic Party in Houston , and was stripped of his authority by the county executive committee before he could take office. He was removed from office by the state party chairman a few months later, in February 1989, because of Jones's alleged opposition to the Democratic presidential candidate, Michael Dukakis , in favor of LaRouche. The LaRouche movement opposed

6464-443: The early 1960s, federal banking regulators' interpretations of the Act permitted commercial banks , and especially commercial bank affiliates, to engage in an expanding list and volume of securities activities. Congressional efforts to "repeal the Glass–Steagall Act", referring to those four provisions (and then usually to only the two provisions that restricted affiliations between commercial banks and securities firms), culminated in

6565-567: The editor found to be "chilling". Another LaRouche group, including Janice Hart , forced their way into the office of The Des Moines Register ' s editor in 1987, haranguing him over his paper's coverage of LaRouche and demanding that certain editorials be retracted. Dennis King began covering LaRouche in the 1970s, publishing a twelve-part series in a weekly Manhattan newspaper, Our Town , and later writing or cowriting articles about LaRouche in New Republic , High Times , Columbia Journalism Review , and other periodicals, culminating in

6666-494: The exception of commercial banks being allowed to underwrite government-issued bonds, commercial banks could only have 10 percent of their income come from securities. It was not until 1933 that the separation of commercial banking and investment banking was considered controversial. There was a belief that the separation would lead to a healthier financial system. As time passed, however, the separation became so controversial that in 1935, Senator Glass himself attempted to "repeal"

6767-399: The existence of climate change among others. The Anti-Defamation Commission of the Australian branch of B'nai B'rith (an international Jewish organisation) has published a Briefing Paper with details of the CEC's alleged antisemitic, anti-gay, anti-Aboriginal and racist underpinnings. The document cites CEC publications and quotes former CEC members. The CEC in turn published a response to

6868-426: The final revision all had similar goals and brought up the same objectives, which were to separate commercial from investment banking, bring more banking activities under Federal Reserve supervision, and to allow branch banking. In May 1933, Steagall's addition of allowing state-chartered banks to receive federal deposit insurance and shortening the time in which banks needed to eliminate securities affiliates to one year

6969-461: The financial crisis of 2007–2008, legislators unsuccessfully tried to reinstate Glass–Steagall Sections 20 and 32 as part of the Dodd–Frank Wall Street Reform and Consumer Protection Act . Both in the United States and elsewhere around the world, banking reforms have been proposed that refer to Glass–Steagall principles. These proposals include issues of " ringfencing " commercial banking operations and narrow banking proposals that would sharply reduce

7070-433: The investment-bank culture came out on top", and banks which had previously been managed conservatively turned to riskier investments to increase their returns. Another laureate, Paul Krugman , contended that the repealing of the act "was indeed a mistake"; however, it was not the cause of the financial crisis. Other commentators believed that these banking changes had no effect, and the financial crisis would have happened

7171-448: The later 1970s, the U.S. Labor Party came into contact with Roy Frankhouser , a felon and government informant who had infiltrated a variety of groups. The LaRouche organization believed Frankhouser was a federal agent assigned to infiltrate right-wing and left-wing groups, and that he had evidence that these groups were being manipulated or controlled by the FBI and other agencies. Frankhouser introduced LaRouche to Mitchell WerBell III ,

7272-433: The law was passed on June 16, 1933, to decide whether they would be a commercial bank or an investment bank. Only 10 percent of a commercial bank's income could stem from securities. One exception to this rule was that commercial banks could underwrite government-issued bonds. There were several "loopholes" that regulators and financial firms were able to exploit during the lifetime of Glass–Steagall restrictions. Aside from

7373-425: The movement implied in discussions with him that the military might help "lead the country out of its problems", a view which he rejected. WerBell also introduced LaRouche to Larry Cooper, a Powder Springs, Georgia police captain. Cooper, Frankhouser and an associate of Frankhouser named Forrest Lee Fick later made allegations about LaRouche. Cooper said in an NBC broadcast interview in 1984 that LaRouche had proposed

7474-529: The movement might try to take power by force. FBI Director Clarence Kelly testified in 1976 about the LaRouche movement: A "violence-oriented organization of 'revolutionary socialists' with a membership of nearly 1,000 located in chapters in some 50 cities ... involved in fights, beatings, using drugs, kidnappings, brainwashings, and at least one shooting. They are reported to be armed, to have received defensive training such as karate, and to attend cadre schools and training schools to learn military tactics..." In

7575-567: The new party. Its purpose was to lobby for binding voter-initiated referendums . By 1989, the CEC leadership was under the influence of the Lyndon LaRouche movement. By 1992, the CEC identified itself as the Australian branch of the broad international LaRouche movement. National Secretary Craig Isherwood moved the headquarters from rural Queensland to a Melbourne suburb, with direct communications links to LaRouche's US headquarters established. In 1996, then-Liberal Party MP Ken Aldred ,

7676-552: The night to the general counsel of the Federal Elections Commission (FEC) when the FEC was investigating LaRouche's political contributions. During the grand jury hearings followers picketed the courthouse, chanted " Weld is a fag", distributed leaflets accusing U.S. Attorney William Weld of involvement in drug dealing, and "sang a jingle advocating that he be hanged in public". The Schiller Institute sent

7777-527: The parliament". Solidarité et progrès (Solidarity and Progress), headed by Jacques Cheminade , is the LaRouche party in France. The party was previously known as Parti ouvrier européen (European Workers' Party) and Fédération pour une nouvelle solidarité (Federation for a New Solidarity). Its newspaper is Nouvelle Solidarité . Cheminade ran for President of France in 1995 , 2012 and 2017 , finishing last each time. The French LaRouche Youth Movement

7878-663: The period in which commercial banks were required to eliminate such affiliations. Although the deposit insurance provisions of the 1933 Banking Act were very controversial, and drew veto threats from President Franklin Delano Roosevelt , President Roosevelt supported the Glass–Steagall provisions separating commercial and investment banking, and Representative Steagall included those provisions in his House bill that differed from Senator Glass's Senate bill primarily in its deposit insurance provisions. Steagall insisted on protecting small banks while Glass felt that small banks were

7979-472: The pornographic." In 1986, two LaRouche candidates, Janice Hart and Mark Fairchild, won in the Democratic primaries for two statewide positions in Illinois, Secretary of State and Lieutenant Governor. Campaign appearances by Democratic gubernatorial candidate Adlai Stevenson III , who refused to share the ticket with them and shifted instead to the "Solidarity Party" formed for the purpose, were interrupted by

8080-768: The prohibition on direct bank underwriting by permitting a limited amount of bank underwriting of corporate debt. In the 1960s, the Office of the Comptroller of the Currency issued aggressive interpretations of Glass–Steagall to permit national banks to engage in certain securities activities. Although most of these interpretations were overturned by court decisions, by the late 1970s, bank regulators began issuing Glass–Steagall interpretations that were upheld by courts and that permitted banks and their affiliates to engage in an increasing variety of securities activities. Starting in

8181-574: The prosecutions politically motivated. LaRouche's widow, Helga Zepp-LaRouche , heads political and cultural groups in Germany connected with her late husband's movement. There are also parties in France, Sweden and other European countries and branches or affiliates in Australia, Canada, the Philippines and several Latin American countries. Members engage in political organizing, fund-raising, cultural events, research and writing and internal meetings . On February 24, 2021, Zepp-LaRouche denounced

8282-466: The repeal was "indirect": "[w]hen repeal of Glass-Steagall brought investment and commercial banks together, the investment-bank culture came out on top". Economists at the Federal Reserve , such as Chairman Ben Bernanke , have argued that the activities linked to the financial crisis were not prohibited (or, in most cases, even regulated) by the Glass–Steagall Act. The sponsors of both

8383-433: The repeal, especially of sections 20 and 32. Instead, the five year anniversary of its repeal was marked by numerous sources explaining that the GLBA had not significantly changed the market structure of the banking and securities industries. More significant changes had occurred during the 1990s when commercial banking firms had gained a significant role in securities markets through "Section 20 affiliates". The perception

8484-737: The risks they may take. In 1999 Congress passed the Gramm–Leach–Bliley Act , also known as the Financial Services Modernization Act of 1999, to repeal them. Eight days later, President Bill Clinton signed it into law. After the financial crisis of 2007–2008 , some commentators argued that the repeal of Sections 20 and 32 had played an important role in leading to the housing bubble and financial crisis. Economics Nobel Memorial laureate Joseph Stiglitz , for instance, argued that "[w]hen repeal of Glass-Steagall brought investment and commercial banks together,

8585-549: The rumor initially to avoid validating it. However, at a press conference a reporter for a LaRouche publication, Nicholas Benton , asked President Reagan whether Dukakis should release his medical records. Reagan replied "Look, I'm not going to pick on an invalid." Within an hour after the press conference Reagan apologized for the joke. The question received wide publicity, and was later analyzed as an example of how journalists should handle rumors. Republican candidate Vice President George H. W. Bush's aides got involved in sustaining

8686-537: The same way if the regulations had still been in force. Lawrence J. White , for instance, noted that "it was not [commercial banks'] investment banking activities, such as underwriting and dealing in securities, that did them in". At the time of the repeal, most commentators believed it would be harmless. Because the Federal Reserve's interpretations of the act had already weakened restrictions previously in place, commentators did not find much significance in

8787-483: The separation of commercial and investment banking. This source states that Senator Glass proposed many versions of his bill to Congress known as the Glass Bills in the two years prior to the Glass–Steagall Act being passed. It also includes how the deposit insurance provisions of the bill were very controversial at the time, which almost led to the rejection of the bill once again. The previous Glass Bills before

8888-609: The story, and Dukakis was obliged to deny having had depression. To avoid the negative backlash on his own campaign, Bush made a statement urging Congress to pass the Americans with Disabilities Act , which he signed upon gaining office and which became one of his proudest legacies. At a 2003 Democratic primary debate repeatedly interrupted by hecklers, Joe Lieberman quoted John McCain , "no one's been elected since 1972 that Lyndon LaRouche and his people have not protested". The first reported incidence of heckling by LaRouche followers

8989-468: The throat. Kaplan pressed charges and the case went to trial. In 1986, Janice Hart held a press conference to say that Kissinger was part of the international "drug mafia". Asked whether Jews were behind drug trafficking Hart replied, "That's totally nonsense. I don't consider Henry Kissinger a Jew. I consider Henry Kissinger a homosexual." A LaRouche organization sold posters of Illinois politician Jane Byrne described by Mike Royko as "border(ing) on

9090-627: The weakness to U.S. banking. Many accounts of the Act identify the Pecora Investigation as important in leading to the Act, particularly its Glass–Steagall provisions, becoming law. While supporters of the Glass–Steagall separation of commercial and investment banking cite the Pecora Investigation as supporting that separation, Glass–Steagall critics have argued that the evidence from the Pecora Investigation did not support

9191-426: The world's largest securities firms ( Salomon Smith Barney ). By defining commercial banks as banks that take in deposits and make loans and investment banks as banks that underwrite and deal with securities the Glass–Steagall act explained the separation of banks by stating that commercial banks could not deal with securities and investment banks could not own commercial banks or have close connections with them. With

9292-644: The world, which campaign, gather information and publish books and periodicals. LaRouche-aligned organizations include the National Caucus of Labor Committees , the Schiller Institute , the Worldwide LaRouche Youth Movement and, formerly, the U.S. Labor Party . The LaRouche movement has been called " cult -like" by The New York Times . The movement originated within the radical leftist student politics of

9393-459: Was a child molester. When Wadman took a job with the police department in Aurora, Illinois , LaRouche followers went there to demand he be fired, and after he left there followed him to a third city to make accusations. In the 1970s, Nelson Rockefeller was a central figure in the movement's theories. An FBI file described them as a "clandestinely oriented group of political schizophrenics who have

9494-471: Was at the Watergate hearings in 1973. Since then, LaRouche followers have repeatedly disrupted speaking events and debates featuring a large variety of speakers. In the 1980s, journalists including Joe Klein and Chuck Fager from Boston's alternative weekly, The Real Paper , and Chicago Tribune columnist Mike Royko alleged harassment and intimidation by LaRouche groups. After Royko wrote about

9595-411: Was called to investigate an incident in which a man threatened to rip down several political signs displayed by LaRouche supporters." Police investigated the incident as malicious harassment – the state's hate-crime law. At one widely reported event, Congressman Barney Frank referred to the posters as "vile, contemptible nonsense." In March 2010, LaRouche Youth leader Kesha Rogers won

9696-607: Was disendorsed by the Liberal Party after using parliamentary privilege to make allegations of involvement in espionage and drug trafficking against a prominent Jewish lawyer and a senior foreign affairs official, using documents that were later found to be forged, supplied to him by the CEC. In 2004, the CEC received the largest contribution of any political party, $ 862,000 from a central Queensland cattle farmer and former CEC candidate named Ray Gillham. The party collected $ 2.3 million in donations in 2020-21. The party’s leader

9797-521: Was favored to win this election, having lost the previous election by a narrow margin. He refused to run on the same slate with Hart and Fairchild, forming the Solidarity Party and running with Jane Spirgel as the Secretary of State nominee. Hart and Spirgel's opponent, Republican incumbent James R. Thompson , won the election with 1.574 million votes. After that primary Senator Daniel Patrick Moynihan (D-NY) accused his own party of pursuing

9898-843: Was honored as "Democrat of the Year" for the 43rd Assembly District of California, by the Los Angeles County Democratic Party. At the April 2007 California State Democratic Convention, LYM activist Quincy O'Neal was elected vice-chairman of the California State Democratic Black Caucus, and Wynneal Innocentes was elected corresponding secretary of the Filipino Caucus. In November 2007, Mark Fairchild returned to Illinois to promote legislation authored by LaRouche, called

9999-536: Was known as the driving force of what helped the Glass–Steagall act to be signed into law. The Glass–Steagall separation of commercial and investment banking was in four sections of the 1933 Banking Act (sections 16, 20, 21, and 32). The Banking Act of 1935 clarified the 1933 legislation and resolved inconsistencies in it. Together, they prevented commercial Federal Reserve member banks from: Conversely, Glass–Steagall prevented securities firms and investment banks from taking deposits. The law gave banks one year after

10100-404: Was threatened after a tense interview with LaRouche and his associates, and found several of his cats dead after he published an account of the meeting. A LaRouche associate denied responsibility for the dead cats. According to courtroom testimony by FBI agent Richard Egan, Jeffrey and Michelle Steinberg, the heads of LaRouche's security unit, boasted of placing harassing phone calls all through

10201-499: Was with the U.S. Labor Party . In the next seven campaigns he ran for the Democratic Party nomination. He received federal matching funds in 2004. LaRouche candidates who ran in various Democratic primaries, generally sought George Wallace voters. The LaRouche movement attracted media attention in the context of the 1986 Illinois gubernatorial election , when movement members Janice Hart and Mark J. Fairchild won

#754245