Peter Schiff made a fortune worth $70 million by hiding rich people's money overseas. Recently he dressed up as a Walmart employee and acted like a jerk (not difficult, we imagine) in front of a Connecticut Walmart to discredit the real employees.
It all started on his TV show -- 'Schiff TV' -- where he claimed Walmart pays good wages and the employees should be grateful.
SemDem at DailyKos tells us what happened:
Schiff pulled a John Stossel and decided to dress down and, along with his smirking wife, literally follow and harass shoppers right outside a Connecticut Walmart (I have no idea which one, but its probably either the one in Norwalk or Stratford since he works in Westport.) His spiel was that he was a Walmart employee/protester and told everyone they should donate 15% of whatever they paid at Walmart directly to him. He kept screaming "higher prices for higher wages" as the protester's "motto". When people said they were broke, he mocked them and said they just bought "all this stuff" and they didn't care about the workers. He kept yelling "We are counting on you to pay higher prices!" When someone told him that they were poor workers who couldn't afford to pay, he actually said "But the Walmart workers are more important!" Even when people tried to give what they could, he would get irate and demand 15% of their purchases!He must have missed the story about the Walmart that held an employee food drive for its own employees.
Yves Smith, the Naked Capitalist, comments that Peter Schiff has lost boatloads of money for his investors and deserves to be pilloried at every available opportunity.
We couldn't agree more.