Comment by ineedasername

Precisely. This isn't an issue driven by obscure and multi-layers investment vehicles that can't survive when stressed. This is a decrease in the market driven by actual significantly reduced consumption and demand for a wide variety of services. The Fed keeping things liquid is important, as are things like low interest loans to small businesses. But it doesn't matter how cheap your credit is if you don't actually have any revenue coming in. Monetary policy will (hopefully) help keep the economy from complete disaster while the underlying issue is resolved, but that's the most it can do.