Peter Schiff on CNN Auto Bailout Intense Debate! part 2/2

Peter Schiff on CNN Auto Bailout 12/4/08 part 2/2

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[BikiniBabe1985]

I love how that idiot tried to paint Peter Schiff as a status-quo Wall Street criminal. I really feel sorry for Peter, he is regularly forced to debate retards

[wachman]

that's funny, i'm pretty sure Ron Paul still has all his and he's old! i think the point is that the majority of people in this country, who went to public school, (which is controlled by the government) grow up listening to what the media tells them and they learn to think of all politics in terms of just right and left which is not true at all. there's an up and down, you know. and then some of these publicly educated idiots end up in public office only cuz they know how to talk a good game.

[Marine475]

US automakres are so far behind what rest of the world is doing they soon will be unable to compete with Chinese crap cars. It's just absurd!

[caskurlu]

I watched pretty much all the videos of Peter and I hate the fucking power of the corporations on Washington. But let GM bankrupt and someone that will produce cars more efficiently will take it over is not a correct argument. The theory of free-market is for small businesses. Automotive industry have few players all of them are big. By the way the mayor's argument on other countries are backing their own brands is true.

[dustinseth1]

Hahaha. Man, this mayor has NO argument. He just accuses peter of living in a world of theory. Sorry my friend, that is not a substantive argument.

[stockmarketfreak]

Two wrong don't make a right. Didn't your mother tell you that?-Peter Schiff

That's an instant classic.

[warmoviesboy]

Wow both the mayor and reporter are dumb.. "Make all electric" <---- lol! first improve the pollution caused by electric batteries and improve the life of the battery then you can start all electric. For the mayor, fuck you, you piece of shit, backing up the greedy bastards.

[eshnajizzle]

@groam6666

What everyone seems to forget here is that the situation in which this was being discussed is not normal. There was a banking crisis during which money was very tight. No-one wanted to invest. In ordinary circumstances GM wouldn't have failed because investors would have intervened, but not in 2008.

Letting GM fail would have caused even more lost revenue to the economy at least during the bankruptcy proceedings. This would have made the crisis worse.

[dirtylos30]

The mayor is such a typical mawkish liberal

[groam6666]

The mayor is an idiot. He actually thinks that if they did not bail out GM, their assets would simply vanish into thin air. Of course in the real world, another company or other investors would have taken over the company and renegotiated the union contracts, which would allow GM to become profitable and maintain most of their employees.

This was just another favor by Obama granted to a Union at the expense of everyone else. We have some serious retards in America, but Peter is not one of them

[gnuochtapir]

Peter is so right! We had a similar story here in Sweden where the automobile company SAAB was about to collapse. A lot of people wanted the Swedish government to save the company but luckily the government said no. And exactly as Peter said would happen, several other companies and entrepreneurs showed interest in SAAB and managed to save it from bankruptcy. The road ahead will be tough but hopefully SAAB will be a profitable company very soon - without the support of taxpayers money.

[DJAnthonyillWill]

In the video when they said the GM Executives are only making $1 for the year and Peter quickly responded, "they're overpaid," I died laughing!!!! Peter is freaking hilarious!!!