President Bush will not save your bacon either. The prez is talking down the economy to get his tax cut through Congress. So far, he has managed to worry the public, but he has yet to get near-term tax cuts. Don't bet he will. The public is still in denial about the carnage done to stock accounts and mutual funds.
Inflows are still positive for the year.
At some point, people will wake up to the fact that many stocks are not coming back. Then they will take some money off the table. It is highly unlikely that this bear market can end without significant mutual fund redemptions. That means more selling pressure ahead. In times of financial stress, stuff happens.