This Washington Post report highlights the secondary danger associated with the financial morass we're in -- companies with solid balance sheets could get swept up in the fear of financial ruin.
Come on, people. Let's think rationally here. Companies with solid economic balance sheets are not going to collapse. Is it the media's responsibility to get that message out?
And on a slightly related note...where does the Federal Government go from here? In other words, once the bailouts of various financial companies are agreed to, does the government have an obligation to assist in strengthening of other industries -- say, the airlines?
Imagine this scenario -- one airline (let's say one of the legacy carriers such as American) announces it's going to cease operations. The government let's that happen. What could happen to airline prices? They go up. Why? One less player is in the game.
Yes, this "slightly related note" sees counter-intuitive to the don't panic theme of the first part of this message. But then again so does Sen. Joe Biden's call for wealthier Americans to pay more taxes...as a form of patriotism. Huh? Am I missing something here?