While that possibility can't be dismissed, I think the "coolness" of President Coolidge would have been effective. He famously said:
If you see ten troubles coming down the road, you can be sure that nine will run into the ditch before they reach you.
In contrast, I think Hoover, a man of action, both hastened and worsened what would have otherwise been a mere correctional blip under the Coolidge/Mellon team. Hoover's engineering background and well-known humanitarian works led him into a course of meddling when, as Coolidge stated, the troubles would resolve on their own.
