Peter Schiff Video: "Heads The Banks Win, Tails The Taxpayer Loses"

Last week we covered Chris Dodd attempting to save face with voters, but it's much too little and way too late.  Dodd's opponent in Connecticut next November, assuming he disposes of WWE CEO Linda McMahon in the primary, will be Peter Schiff.  Schiff's videos are always entertaining and this clip is no different.  In the interest of equal time for political campaigns enjoy while Peter lambastes moral hazard, Washington and the bailout culture that permeates Capitol Hill.

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• "Of course while we are celebrating the fact that demand was there, that the Chinese, Japanese, and everybody else showed up, the reality is one day they are not going to show up. And we can’t keep celebrating the fact that every time we hold a debt auction people are foolish enough to bid. Because one day they are not going to be there, and the whole thing is going to fall apart."

• "For now we can wipe the sweat off our brow because we made it through another treasury auction where people were foolish enough to be there."

• "The same thing with these employees of the brokerage firms, we want them to know they can’t gamble with impunity, that it’s not heads they win tails the taxpayer loses."

• "Nobody is going to care what the government says when actions speak louder than words. We all know they are going to bail everybody out because if they are going to let the institutions fail, why didn’t they do it the first time?"

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Comments

[DailyBail]

Thanks Allison for posting the clip in comments over the weekend.

[James H]

allie,
I watched this last night and then went over to his campaign site. I'm pretty excited about it, myself. Even if he loses, if he can make it to the general election the MSM will be forced to cover the campaign. Chris Dodd is too big to not have his campaign covered and I'm sure Peter knows how to keep the fireworks popping. Could be a doozie. I might even crack open the ol' checkbook -- would make the second time in my life I gave money to a political campaign. (Ron Paul -- like duh -- being the other one).

[allie]

Yeah, I'm hoping he makes it to the general too. Hell, I'm hoping he wins it - ha. But I don't know much about the other guys --Simmons and Caliguiri, or anything about Connecticut politics. The most recent poll I found was from Sept 11-- http://www.rasmussenreports.com/public_content/politics/elections2/election_2010/election_2010_senate_elections/connecticut/election_2010_connecticut_senate_race --showing Dodd trailing Simmons. I honestly do not see how Dodd can come back, unless CT voters are complete idiots. Ugh, I don't know he's been in the Senate this long...

Schiff has already had two money bombs, where have you been? ;)