The Treasury and Federal Reserve are throwing everything but the kitchen sink to get Wall Street back on track.

But measures so far may pale in comparison to what’s to come.

Mark Nestmann says President Bush just has to declare a “state of national economic emergency” to open up a whole new range of drastic measures.

Past presidents have shut down stock markets, frozen bank accounts, taxed foreign investments and even confiscated gold.

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Do government bailouts in times of banking crises work? Crises like this are manageable. They’re expensive and painful to resolve, but even more expensive and painful when left to fester.

The buzz on Capitol Hill is that Congress could pass an updated version of the bailout bill before the end of the week. But Shah Gilani in Money Morning says taxpayers are being “force-fed a political solution, instead of a sound economic market-based solution to a financial crisis.” He says the the bailout bill has eight key failings.

Any celebrations over this government bailout (if it gets passed) will be short lived, says Russell McDougal at Investor’s Daily Edge. The $700 billion plan will merely reinforce the fraudulent status quo in US money markets. And that means it will merely postpone the inevitable day of reckoning. Russell says this is a “disastrous long-term strategy” that will eventually wipe out the US dollar and Treasury bonds.