SCHIFF: 'Banks Are Just A Few Rate Hikes From Insolvency'

Great clip.  Schiff battles CNBC bank bailout drones.

Peter Schiff on Closing Bell Monday.  Start watching right at 1:00.  Other guests are Jason Pride of Glenmede, and Hank Smith of Haverford Investments.

One of the buy-side tools exclaims:

I think everyone agrees TARP saved the banking system.

Schiff responds:

The banks are in the worst shape they've even been.  They are a just a few interest rate hikes from insolvency.

Maria Buffoonromo and a few other idiots talking book.  Schiff goes off, and Maria, ever the financial media protector of JPMorgan et al., gets killed.  It's more of the same, but the true colors come out for a few minutes. (Hat tip to Josie)

Comments

[SKINFLINT]

No vid here DB.

[DailyBail]

Just reload the page. It's there.

[SKINFLINT]

Debt to GDP at 106 per cent? Not a problem. Anecdotally, soup kitchens here in my hometown have exploded with entire families that come in looking for good hot meals. At times the food runs out before all are fed. The food pantrys in town are being hammered as clients come in seeking canned goods and such and have been constantly running low. Of course according to this article there is no problem and our rconomy is just fine. Like wearing a snake for a tie. Looks good, but gets a little harder to breathe with each breath. http://mobile.bloomberg.com/news/2013-03-22/economists-see-no-crisis-with-u-s-debt-as-economy-gains.html