Reason For The Market Swoon -- Realistic Testimony By The Fed's Jon Greenlee

A few misplaced words is all it takes to scare the market into submission. The proposed reason for today’s impressive market reversal from up over one per cent, to negative now, has been attributed to testimony by the Fed’s Jon Greenlee, Associate Director, Division of Banking Supervision and Regulation, before the Subcommittee on Domestic Policy, Committee on Oversight and Government Reform, U.S. House of Representatives, Atlanta, Georgia. Mr. Greenless strays from the party line and dares to say (the truth) things that his associates at the secretive Federal Reserve would never willingly share with the market for fear of just the kind of reaction that we have seen in past hour.

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