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Friday, August 27, 2010

Federal Reserve is out of bullets unless you are John Silvia of Wells Fargo...they have plenty of bullets

The reality gap when one "expert's" (Wells Fargo John Silvia) employer receives TARP bailout funds and the other is on their own. The TARP recipient is bullish and confident that the Federal Reserve (Ben Bernanke) has ample bullets to turn things around (well, actually one bullet...print more money) and Chip is shaking his head nada....the Federal Reserve is out of bullets and Ben Bernanke can not change the natural order of things. Of course CNBC only has just over 3 minutes for the clip as they need to fit in yet another Robert Wagner Reverse Mortgage commercial in order to keep the NBC Universal-Comcast merger dream alive. For those that are interested in a non-TARP perspective, here is the link to Chip Hanlon Chip Hanlon Link

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