This is a bad situation, but it's only becoming a crisis because of a thousand Chicken Littles running around screaming that it's the end of the world. Meanwhile, play the volatility in the high quality bank stocks that you know are going to survive. I buy three or four stocks on every one of these catostrophic sell-off days, then immediately put in a sell order at a buck or two higher. As soon as they sell on one of the big recovery days, I put in a buy order at a few dollars lower, and start the cycle all over again. This market volatility it total nonsense, but you can make money on it!