Government Intervention

Oh good gracious.  Peter Bernstein article in todays NYT's Sunday business section ("When Should the Fed Crash the Party?") is so predictable it is a bore.  He trots out all the cruel statements from "anti-interventionists" and then mentions all the governments successes when intervening in financial crises.  He throws a bone to the problems of decision-makers in predicting what to do but concludes with typical flourish the consequences of not intervening would be "unthinkable."  What drivel.  The argument is flawed because intervention gets us into crises in the first place -- prompting Bernstein and others to then call for corrections and bailouts.  At issue is how often our economic lurches are created in the first instance by intervention, not whether intervention "to correct" is always worth the effort.