Is the fed playing with market fundamentals?

There has been three instances now which leads me to think that the Fed is going against market fundamentals and not letting the market efficiencies to shape out the final outcome.

1) US government backing of Feddie and Fannie - Both sister mortgage companies were in deep trouble last week with talks of something similar to Bear Stearns to happen. Both companies had seen their share prices tumbling by more then 50% in one week. Together they account for $5.2 trillion in home mortgages. Their failure could have given a big blow to the US economy. And so the government came to their rescue as expected.

Investors invest in these companies with the assumption that they have the government backing and the government would bail them out if they are in trouble. So in effect, the government is reducing the risk involved in these companies. Should government influence the market risk of a firm?

2) Hold on naked short selling on financial firms - The fed has put a limit on naked short selling of some 18 or 19 financial firms including fannie and freddie mae. By doing this it has forced people to take stake of shares before they sell it. But again, the financial firms are in trouble because their fundamentals are not correct.

By interfering with the market, is the fed preventing the market to reach the correct share price. I wonder why did the fed just limit it on 18 companies whose share price have been beaten by the market.

3) I am waiting when the SEC would step its neck up to prevent commodities trading on oil to prevent its price to rise . That is again another instance where the market is correcting the price of gasoline based on the future supply and demand. That is creating an incentive for others to come up with alternatives. If the SEC puts some regulation on oil, that would only have long term negative effects on the world economy.

What are your opinion on these three controversial topics?