Steve Leeb Points Out The Fallacies of Peter Schiff's Senseless Liquidationist Theories

In this October 2008 special edition of CNN Money, the topic is about whether to pass TARP and bail out the banks and AIG etc.
1st point in which Steve Leeb was right and Peter Schiff was wrong is whether the bail outs would produce positive returns for the government. There is no doubt about this now - all the major banks have paid down their loans and the US government is making a tidy profit in the financial services firms they bought into e.g. Citigroup
Steve Leeb then points out the fallacies of Peter Schiff's proposed liquidationist solutions (e.g. stop bail outs / government intervention and let all of these firms fail) and the systemic and national interest risks involved.

Ultimately, what is most interesting is Steve Leeb's 100% accurate read of Peter Schiff - that he is a charlatan with nothing but hot air rhetoric - and proceeds to show him up in that light during the show.

Category:

Comedy

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