Still with all that knowledge I'm afraid it's almost impossible to slow down group dynamics (and that's all this is) to a point where everybody doesn't get hurt - again. People are going to try to outsmart the bubble, probably even accelarting it. Human nature, I guess. Still sucks. :)
I think you could get a lot of mileage out of taxation.
Increase the short-term capital gains rate to -- say -- 50%, add in an shorter-term capital gains rate of 75% for gains inside a month, and just for good measure top it all off with a super-short-term rate of 90% for gains inside of a day.
And to balance the equation, maybe make a longer-term capital gains and drop the capital gains rate on investments lasting more than 5 years to 5% or so. (Or, heck, just inflation-index them.)
