And the FED thought it could unwind its balance sheet Call it helping the Repo market, Open market operation, Quantitative easing or any other fancy name. It all means the same thing. Though i think the MSM is starting to see the market fully died in 2008. The financial markets are a bunch of whinny useless kids that need constant positive reinforcement and support for their daddy. I'm sure Peter Schiff is already making his "i was right again" video. Clips of the MSM telling him how everything is fine and that the FED will have no issues shrinking its balance sheet and raising rates.