Peter Schiff Speaks The Language Of Ron Paul On Bailouts With Glenn Beck [Video]

September 16th, 2008 11:50 pm | by Marc Gallagher | Published in Banking, Big Government, Debt, Economics, Ron Paul, Television, Video | 19272 Responses2008-09-17+03%3A50%3A55Marc+Gallagher

Peter Schiff, who endorsed Ron Paul for President, appeared on Glenn Beck’s television show yesterday discussing the recent government bailouts and what the future holds. Hint: It’s pretty bleak.

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1927Responses2008-09-17+03%3A50%3A55Marc+Gallagher

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mckinleyforcongress says:

September 17th, 2008 at 7:20 am (#)

Schiff is describing classic “rent seeking” behavior. If the government signals through its actions that the bigger and more complex that financial institutions are, the more likely they will get a bailout, the first thing they will do once they have problems in order to save themselves is to get bigger and more complex.
Marc Gallagher says:

September 18th, 2008 at 12:28 am (#)

Vern,

Great comment and so true… that’s exactly why ML agreed to the purchase by Bank of America.

-Marc