By reflation, Keynes mean primarily the reflation of income; wages and business revenue, as reflected in the general price level. The purpose of reflation was to overcome the liquidity trap and lower the real interest rate, thus supporting the continuation of credit and activity.
Asset price reflation, is does not carry these benefits because it is not a source of income. Therefore I don't see the point of governmental attempts at asset price reflation, particularly to bubble levels. Even when government policy reflates the price of commodities, this is a problematic side effect that must be fought by cracking down on speculation.
Because, obviously, confidence is equally important to low interest rates
As for not practicable, I meant it is not practicable for the Fed to be qualified in actually governing this companies as a major shareholder. I don't see the point of this policy.
No need for micro-management any more than stockholders do. The point of the policy is of course firstly to restore confidence, and secondly to bring corporate America more to heel.