Gov't Generating Panic in Order to Buy Up Companies Cheap?

This may have been discussed previously, but it just occurred to me that all the bailout money is being used to buy up all the shares in companies that are being sold off in droves due to the panic in the current economy. While it is valid and true that the economy is falling apart at the seams due to our fiat monetary system and the central banks that control it, many people still do not understand this. Thus, it seems to me that each time there is a new panic created and there is a large sell off, the plunge protection team jumps in to "save the day" by buying up all the stocks. They seem to be doing this over and over again in order to buy up all the stocks that are being sold. Does this mean that the government is literally purchasing all these publicly-traded companies over time? Is there more to it than this? Is my understanding insufficient? From my perspective, and based upon what I've been reading here, because China and other foreign countries are pegged to our dollar and the promise of our "growing wealth" that will benefit them, the movers and shakers behind the scenes are doing everything possible to maintain the illusion that there isn't a fundamental flaw in the system that will lead to its total demise, but rather that there are failing banks that need bailouts, that the government needs increased control and ownership in order to maintain control, etc. So in essence, the message being sent to the American public is a condensed and incomplete view that will allow for more government control and ownership (socialism) in order to "fix" the problem, and the idea is to keep the rest of us on board with these attempts. Meanwhile, the gov't buys everything up, takes ownership of everything, makes arrangements for the elites in other countries who own much of our debt, and then allows the ship to sink. Is this accurate?

Getting back to the government buying up the companies, which was the main point of this post, I just wanted to address this issue because it dawned on me that this is what is currently going on with the rapid ups and downs on Wall Street - investors sell off every time there is a new warning or panic, PPT jumps in to buy it all up, and the cycle continues over and over again until there is nothing left to sell off? Correct me if I'm wrong and discuss for clarification. Thanks.