Last week, Peter Schiff appeared on the John Stossel show on the Fox Business Network in which he lambasted the United States government for creating the moral hazard that transpired on Wall Street a few years ago. This moral hazard, says Schiff, is what led to the taxpayer-funded financial bailouts and if the free market was truly there then the big banks wouldn’t have taken dubious risks that ultimately left millions of Americans on the hook.
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