Real Story: Bernanke's Bind

In the end, Bernanke ended up pleasing no one Wednesday, save for the bears.

Task's first guest, Cody Willard of CL Willard Capital and RealMoney.com , is not a bear, but he is worried the market will suffer more near-term weakness because of problems in housing infecting the broader economy. Willard "wants to get under the helicopters before [the Fed] starts throwing money," i.e., lowers rates later in the year but believes that will come only after more market weakness. (A video version of Task and Willard's conversation about the Fed can be found here.)

In the wake of Gamestop's (GME Quote) stellar earnings report and Microsoft (MSFT Quote) unveiling the Xbox 360 Elite, Willard and Task also had an extended conversation about the videogame sector.

The hedge fund manager's favorite plays in the sector include Adobe (ADBE Quote) and Netgear (NTGR Quote), and Willard says Sony (SNE Quote) is looking attractive as blu-ray appears poised to become the standard over HD-DVD. (A separate video of the video-game discussion can be found here.

TheStreet.com research associate David Peltier was Task's second guest Wednesday, and the two conducted their weekly "Should I Do It?" segment, taking listeners questions on Apple (AAPL Quote), CMGI (CMGI Quote) and a small-cap, Santarus (SNTS Quote).

In the remainder of the podcast, Task address the day's other corporate news, including the fallout from the Beazer Homes (BZH Quote) investigation, Circuit City's (CC Quote)job cuts and the action in RF Micro Devices (RFMD Quote)prior to its postclose warning.

Click here to listen to the entire podcast.