Peter Schiff In the Octagon with Furious Congressbots
Peter Schiff,
the investment seer and radio show host best known around here
for engaging
with Occupy Wall Street scenesters, got a chilly reception at a
House hearing on Oversight of Federal Housing Administration’s
Multifamily Insurance Programs the other day, and has posted a
highlight reel at the Youtubes.
Schiff breaks out his plays of the day:
6:06 - My Opening Statement
11:16 - “I don’t know whether to go to Mr. Schiff or not,
but I guess I will” – Judy Biggert (R)
I explain to Chairwoman Judy Biggert why federal involvement in
home lending has created more problems than it has solved.
16:22 - “Despite all the sound and fury, there’s not a lot
of details…” – Robert Hurt (R)
My proposals that old regulations be repealed, rather than new ones
proposed, in order for the free market to come up with solutions
are repeatedly lost on Congressman Robert Hurt.
25:16 - “Mr. Schiff, I just have one question…” -
Emanuel Cleaver (D)
Congressman Emanuel Cleaver II unsuccessfully tries to ‘nail’ me.
Instead, a spirited discussion ensues in which I remind the
congressman of the moral hazard and economic costs of government
subsidies.
30:38 - “Maybe that happens in an Ayn Rand novel…” – Dan
Sherman (D)
Congressman Dan Sherman asserts that as a practical matter the
federal government, in one way or another, insures all homes, and
that only characters in an Ayn Rand novel would believe
otherwise.
Correction: That’s not Dan Sherman but Rad Brad Sherman, the
Sherman Oaks Democrat, occasional
critic of Obama Administration policies and weather
machine expert who I was interested to see
seems to have a substantial lead over smart-money favorite
Howard Berman in their squabble over a jerrymandered San Fernando
Valley seat.
Sherman, who voted against the 2008 TARP bailout, is
refreshingly post-ethical in his calls for taxpayers to support
lifestyles and political structures he knows to be unsustainable.
In 2009, when I asked about the wisdom of having the Federal
Housing Administration
You can read the rest of this article at: http://reason.com/blog/2012/06/13/peter-schiff-in-the-octagon-with-furious
Short URL: http://www.txwclp.org/?p=11234
Posted by rbutler
on Jun 14 2012. Filed under Libertarian News.
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