[byrneseyeview]

You're ignoring the question of whether or not the market should crash. If stocks are overpriced, then intervention like this just means we'll spend more time acting as if they are not overpriced, and that would be awful.

For what it's worth, my day job and my main part-time job are both entirely dependent on the market, so I sure hope the market doesn't need to crash. I agree with David Einhorn (who, by the way, has been short Lehman for a while): the stock market is okay, but the credit market is way overpriced.