We are Deleveraging, the Fed Can't Fix It: Pro

2:00 AM ET Tue, 17 July 2012

"We have to recognise that what we are going through at the moment is a massive deleveraging of all the financial system and it is exposing all those business systems that weren't quite set up in the right way and for the market to expect the Fed to come and put it right is just short-term noise," Mark Tinker, global portfolio manager at Axa Framlington, told CNBC.