True, especially at this stage when people are starting to panic. But at the other stages...grossly inflating the money supply as the boom builds, continuing to contract it during the bust. I wonder.
Remember that the natural tendency of the market is to correct itself.
I'm out of my depth here. But Soros, who isn't, doesn't seem to agree with you. While you may not like many of the things he's done or says, he's no idiot.
What Washington needs to be doing is to help remove the barriers to that free economy. Make sure the money is stable; that taxes are not burdensome; that red-tape to appease Leftwing bureaucrats does not impede rapid decision making--rapid adjustment to fluid conditions, etc..
Who can argue with this...or with your complaints about central planners. Whether it will be enough is for better men than I to say.
As for those Corporate Fiduciaries, who have betrayed the sacred Trust they owed the Shareholders they were supposed to be serving: If they deserve it, Prosecute the Hell out of them!
This is what I think must be done as fast as possible. No single step, in my mind, will restore faith and trust more than this...or, if not done, will do more to undermine them. But this is what I fear the Bush administration does not want to do.
Remember Soros was the trader not the analyst. He has publicly admitted to having a God complex that drives his desire to reshape the international monetary system. He is waiting for something to destabilize the post-Bretton woods system so he can hawk his ideas.