People underestimate just how much the glibertarian right likes the idea of a return to 18th century mores. Because if you put people in jail for having debts (via David Dayden), then people wouldn’t go into debt and the FREE MARKET would take care of the rest.
And, no, he’s not talking about AIG and Citigroup, as far as I can tell.
The guy in the video is the CEO of the Peter G. Peterson Foundation, an anti-Social Security Broder favorite. Peterson himself was head of the Council on Foreign relations for 22 years, which means he probably was responsible for hiring Amity Shlaes.
These are just some of the very serious people who dominate the economic debate in this country.