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

Great clip. Schiff battles CNBC bank bailout drones.

Peter Schiff on Closing Bell this afternoon. 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)

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