Not content with having bailed out the banks by buying up toxic debt and at the same time underpinning housing markets by slashing rates. Central banks then came forth with quantitative easing or QE which led them to buy up large chunks of the bond market. This was all designed to underpin the economic system and encourage risk taking and thereby force savers / investors into riskier and higher yielding assets. They also hoped that the "wealth effect" from this might also trickle down.
So I had a similar reaction to John McEnroe recently when I read a report on Bloomberg.com that Central Banks themselves were now buying equities because they didn't like the low yields they were getting on their own bonds - i'd LOL if it wasn't so crazy. At least is was only 23% of those surveyed with 70% of them seeing it as beyond the pale.
There was a similar more recent article in the FT which referenced a report by an organisation called OMFIF which highlighted this trend and some of the risks involved.
It does beg the question with Central Banks having bailed out banks, bond and property markets and countries - who is monitoring them and who will bail them out if they get into trouble?