All the government can do with the market is to set the groundwork for reasonable confidence to return.
imho, risk has not been criminalized, it rather corrupt practices that emerged during the bubble.
The bursting of the 90's bubble market began in March 2000. If we are lucky it is about over.
According to the Federal REserve Market Priciing Model, we are either close or already there in terms of "fair price" in the market on fundamental basis.
But the market utilizes rational behavioir only as one component of what happens.
It will take sometime for the irrational fear to pass, just as it took sometime for the irrational exuberrance to pass.
Ed