The transition away from Greenspan left nothing to chance today...the plunge protection shills were out in force, as one would expect...
The real question is how will foreign bond holders react after the dust settles...and this transition phase is important. Will Bernanke be another stooge for the markets as Greenspan was...? Clearly the Greenspan era is over...and if Bernanke trys to "do a Greenspan"...bond holders will not be forgiving...
Let the dust settle...the new guy has a hard row to hoe...
