Who Wins.

Panic has set in. Congress has decided not to bail out the financial institutions, while I totally agree that this is what should happen. Free enterprise rewards well managed companies and punishes poorly managed enterprises. To intervene in the system is a form of socialism. However,in this case the entire American public would suffer for the ills of a few. I believe Congress will eventually do the sensible thing and install some sort of bail out. Those responsible must be held accountable. We as investors must NOT panic in times like these. All successful investors have developed a plan and follow it, particularly in down markets. We have been through numerous ordeals like this in the past and the American people have prevailed each time. This time will be no different. Investors who stay the course will be rewarded in the long term. When investors begin selling out and then buying back in at a later time actually empowers Wall Street. Wall Street makes money on every trade, whether its selling or buying. They have actually convinced the investing public that trading in and out is the way to success. This could not be further from the truth. Believe in yourself, remain disciplined and trust the free enterprise system. Truly successful investors are buying now. Case in point, Warren Buffets $5 billion investment in Goldman Sachs. Mr Buffest has a system and a plan, which he diligently adheres to. One example is 1999 when the tech stocks were going thru the roof, earning 70, 80, 100% and more Mr Buffets investments lost 15%. However, in the long run his strategy has been successful. Don't Panic...stay diversified...stay invested. Don't empower Wall Street.