It's (not) the end of the world

I don't think I've managed to walk by a newsstand for the last week without seeing a) a picture of stricken traders with their heads buried in their hands or b) a headline with the words "CRISIS" or "PANIC" or "WHO'S NEXT?". Even my most artsy/non-financial savvy friends have asked, "Okay, what is a credit default swap and why is it causing the apocalypse?"

It makes anyone want to line up at the bank, withdraw their savings, and tuck bundles of cash under the mattress - where at the least, you'll know it's safe because, literally, you'll be sitting on it.

Seems like financial firms are starting to roll out the "It may feel like the end of the world, but don't panic" message.

Example:

Schwab - During times like these, count on us for the help you need.

Fidelity - With the recent market volatility, it’s only natural for you to be concerned about your investments. We understand. Volatile markets can make you wonder if you're on track to meet your investment goals. It’s time to put that uncertainty to rest. Fidelity has helped clients through all types of markets for over 60 years. Let us put that experience to work for you and give you the guidance you may need.

Firms can't afford to be adopting a "no comment" strategy right now, even if you're not an investment firm, but a service provider to this markte. Whatever the message may be, getting the message down and getting it down right is going to be crucial in the months going forward.