Saturday, October 29, 2011

Video clip of the day

Peter Schiff, radio host, financier and unabashed capitalist and proud member of the 1% went down to the Occupy Wall Street encampment in Zuccotti Park in lower Manhattan to chat up the Occupiers.

Touring the Occupy Wall Street scene in New York with a sign that read "I Am the 1%, Let's Talk," Schiff spent more than three hours on the scene, explaining the difference between cronyism and capitalism, bailouts and balance sheets, and more.

"The regulation we want is the market," said Schiff. "That's what works."

Schiff describes himself as "sympathetic" to the plight of the OWS protesters, but thinks their anger is misdirected at legitimate business interests and should be better at the White House, Congress, the Federal Reserve, and the crony capitalists they've bailed out.

We'll play and break down the full 20 minute video within the next couple of day.

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