The Fed has fired most of its bullets (interest rates are already at zero)
Our budget deficit is already out of control, and Congress has had it with “stimulus”
The public has had it with bailouts

That means the government’s ability to do anything about this market crash is severely limited.

Yes, we’ll almost certainly have a “QE3.” And maybe that will prop things up a bit. But it won’t fix the fundamental problems clogging the economy, just as QE1 and QE2 didn’t permanently fix anything.