Uncertainty breeds fear, fear breeds panic, panic breed irrationality

OK let's all slow down a bit here. Yes there are problems out there but let's stay rational. There are strong companies and there are weak companies. There are growth industries and there are declining industries....but remember most companies will survive.....probably all industries will survive. Lets not throw in the towel or paint every company in some industries with the same brush. America will still have an automotive industry when the dust settles, American will still have a construction industry when the dust settles and American will still have a banking industry when the dust settles. When the uncertainty creates panic people behave in a very irrational manner and that manner may magnify present problems or create new problems. I recently enjoyed a conversation with a banker who stated that his bank had made a policy to no longer fund the auto industry because of the uncertainty of it's present state. Is this a rational statement? Just to get him thinking I said I can certainly understand his bank's policy. Who knows where the industry is going.
Oh ya, and wow I commented, I cannot believe that his bank's stock had declined 40% in the last six months......babooooom......his face lit up and he assured me that his banks value decline was just caused by the traders who want to dump all bank stocks. His company's balance sheet was strong and their exposure to the sub prime mess was limited.....funny isn't it I thought.....when you see a dog on the street it just a dog......when you have the dog on your lap......IT IS A PET!!!!