Money Manger Schiff Announces Candidacy For CT Senate Seat

Money manager Peter Schiff, president of Euro Pacific Capital launched his much-anticipated bid to run for Connecticut’s senate seat challenging Christopher Dodd.

The announcement came as no great surprise. There have been multiple reports, it was teased on a twitter feed and a grassroots group of California liberatarians have been pushing for Schiff to run for months.

Schiff joins a crowded field for the Republican nomination, one that already includes State Sen. Sam Caligiuri of Waterbury, former U.S. ambassador Tom Foley, former World Wrestling Entertainment CEO Linda McMahon and former U.S. Rep. Rob Simmons.

The Waterbury conservative made it official on MSNBC’s "Morning Joe" as he told host Joe Scarborough, himself a former Republican Congressman, that he was disgusted with the way government had driven up the cost of health care in America and share his prescription.

"The solution is the free market ... what made this country great," said Schiff.

Schiff went on to blame the Federal Reserve for the economic collapse that still has the nation reeling, blaming them for supplying the easy that allowed some investors to leverage themselves at rates of 30-to-1 or higher.

"We're in worse shape now than before the crisis, deeper in debt," Schiff recently told the Associated Press. "We should have let more institutions fail."

*Find out what Mr. Schiff will do in DC if he gets there. Watch the video now!

______________________________________________________
Got something to to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to [e-mail].

Trader disclosure: On Sept. 17, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (F), (BAC), (EEM), (FXI), (SBUX), (VIP); Seymour's Firm Owns (MTL); Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman Owns (PDE); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC); Finerman Owns (WFC) Preferred Shares; Finerman Owns (RIG) ; Finerman's Firm Owns (WMT), (RIG), (MSFT), (NOK), (PBR), (PDE), (TGT); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (IYR); Najarian Owns (AAPL) & Short (AAPL) Calls; Najarian Owns (ACI) Call Spread; Najarian Owns (BAC) & Short (BAC) Calls; Najarian OWns (C) Calls; Najarian Owns (CUX); Najarian Owns (FCX), Owns (FCX) Put, Is Short (FCX) Calls; Najarian Owns (GE) Calls; Najarian Owns (JPM) & Is Short (JPM) Calls; Najarian Owns (JOYG) & Short (JOYG) Calls; Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (PALM) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (TEVA); Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Calls ; Najarian Owns (WNR) Calls; Terranova Owns Gold Futures; Terranova Owns Dec Crude Contracts; Terranova Owns Dec 2010, Dec 2012 Crude Contracts; Terranova Owns (WNR) & (WNR) Calls; Terranova Owns (HOC)

For Dennis Gartman
Gartman Owns Gold
Gatman Owns Canadian Dollar

CNBC.com with wires