Draghi drags his feet

This article tells how the European Central Bank decided after its policy meeting that from now on it will be the lender of last resort to the European Banks but not European Government. All this is being done to calm the markets down of possible Euro Banks failure hence regain investor confidence.
Any such development has positive impact on Dow Jones, S&P 500 and other indices hence help re boost the sluggish economy by regaining confidence. This also shows that although banks claim to have little exposure to European debt they actually have a lot of exposure and if big European banks fail, many American banks will be hit badly.