That’s exactly what the fed is doing, and was doing before the bailout bill even hit the floor of the House:

The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed’s emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

Of course actions like this only lead to higher inflation and will end up hurting us in the long run. It’s basic economics and one has to really start questioning the rational of this decision.