Any preconceptions of Fed omnipotence just circled the drain. Instead of acting like prudent central bankers, they merely thought and acted like hedge fund managers gone wrong, while the commercial bankers they should have reigned in before the financial crisis were going hog wild. Fisher appears to have been the only sane Fed governor.
http://www.zerohedge.com/news/2013-01-23/art-cashin-only-sane-voice-fed
Wednesday, January 23, 2013
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