CEO to Congress: I Was Fined Because I Hired Too Many People

Stephen Gutowski | September 20, 2011
Font Size

During his September 13th testimony before congress Peter Schiff, CEO of Euro Pacific Capital, revealed that he has been fined thousands of dollars by regulators for hiring too many people. He also said that the regulators have required him to stop hiring all together. (h/t Fox Nation)

Peter Schiff followed up these shocking revelations with straight talk on how exactly big government policies choke free markets. He also went on to explain in detail exactly why a number of liberal ideas are disastrous in reality. His full testimony is, undoubtedly, a must watch.

Schiff has also laid out a fully detailed and radically different plan to roll back repressive government policies and breath new life into the economy at Forbes.

UPDATE: Here is how Schiff describes his ordeal with regulators who fined him for hiring too many workers in his Forbes piece:

"In my own business, securities regulations have prohibited me from hiring brokers for more than three years. I was even fined fifteen thousand dollar expressly for hiring too many brokers in 2008. In the process I incurred more than $500,000 in legal bills to mitigate a more severe regulatory outcome as a result of hiring too many workers. I have also been prohibited from opening up additional offices. I had a major expansion plan that would have resulted in my creating hundreds of additional jobs. Regulations have forced me to put those jobs on hold."