Wall Streeters and investment bankers have been waiting for the meeting of the Fed Chieftains to decide if they will continue to be blessed with $85 Billion every month, or begin the awful "tapering" process. The general public has been waiting to see if the fleecing of our savings accounts would continue. Wednesday afternoon Bernanke finally made the difficult decision to lower the fleecing to only $75 Billion a month beginning in January.
The stock market went wild in celebration with the Dow Jones Industrial Average closing that afternoon on the upside at $292.71, even though $10 Billion is hardly a blip on the economic radar scope. The way I figure it, that might take care of broker's commissions and holiday bonuses for December. Meanwhile easy credit for Government Motors and the rest of the auto industry will continue, but small business will continue to suffer.
