The Fall of the House of Perelman

Bill Cohan joins Peter to unravel how Ron Perelman, the former billionaire corporate raider, was forced to liquidate his favorite yacht, Hamptons home, and famed art collection in pursuit of the “simpler life.” Then they trade notes on Tuesday’s mostly-bland V.P. debate, the candidates’ rival plans to solve the housing crisis, and whether a good old-fashion recession could solve the problem.