September 13, 2011 – Peter Schiff, President of Euro Pacific Capital, testifies to the U S House of Representatives “Oversight and Reform” Committee.
Peter Schiff, President of Euro Pacific Capital was fined $15,000 by FINRA for hiring too many employees. So far he says his legal bills dealing with this issue have cost him over $500,000 and he has had to create a “Compliance Department” to respond to “Regulators” which costs him millions of dollars per year.
Media Matters, a Progressive political media watchdog, funded by leftist organizations like “Moveon.org, The New Democratic Network and George Soros, says that FINRA is a “private – self-regulating organization”, not a government entity; and therefore Obama and the liberals are not at fault for preventing Euro Pacific Capital from hiring new employees. This is non sense.
FINRA previously was the National Association of Securities Dealers, (NASD), and the US government requires that all brokers be a member of FINRA; and FINRA must enforce most of the REGULATIONS that come from Washington D C. Thus, the Obama administration, Chris Dodd and Barney Frank are directly responsible for the regulations that are stifling job growth and the U S economy.