Short-seller Jim Chanos said the belief that the Federal Reserve will always rescue the stock market from steep losses is reckless for investors. “The idea of a Fed put and that the Fed is always going to be there to bail out my bad investment decisions is really not cogent investment policy to hold onto for a long time,” Chanos said on CNBC’s “Halftime Report” on Monday. “The fact that it will bail out the stock market at some pre-determined level of losses... I think it’s a very dangerous idea to uphold,” he added. The market sell-off accelerated Monday, with the Dow dropping as much as 1,100 points, as investors ... (full story)