Speaking at Schwab's IMPACT conference in Denver this evening, Ben Bernanke may not have earned his $250,000 but did unleash some uncomfortable truthiness - not unlike his predecessor's comments last week [5]. As CNBC [6]reports, the ex-central bank chief warned all those front-runners out there - just as we have explained numerous times [7] - The ECB faces significant political barriers to enacting a sovereign bond purchasing program (let alone a corporate bond buying binge).
"The barriers to doing it are not really economic," Bernanke said. "The legal and political barriers being thrown up are going to make it very difficult to do that."
* * *
As we noted earlier, [8] here are the best "disappointment" trades ahead of tomorrow's announcement.
