[Jack Moroney (RIP)]

From my limited experience with this subject, panic usually evolves when the normal rules of expected behavior, for whatever reason, no longer apply. In the case of the market, I imagine just about every model used to predict expected behavior has been turned on its ear. Folks are trying to predict the future from past behavior not really taking the time to draw any parallels between the conditions and factors that existed in the past to those that exist today. I am sure that there are some distinct differences because nothing remains static. Those that can control panic are the ones that have gained respect from their experience and expertise and have gained a level of respect from those that look to them for resolution, but usually the fact that they have met folks expectations in the past is usually insufficient unless they can also show, or have a clearly defined vision, of the way forward. It is critical for those that find themselves in this situation have not only the confidence of those that look to them for guidance but that the game plan for controlling the situation and moving forward is understood and within the abilities of those that find themselves flailing around in a panic mode. Those that are in a panic mode already see themselves as stakeholders in the outcome of the event, the trick is how to harness those stakeholders so that they no longer run around in circles at ever increasing speeds with the threat of running up their own 4th POC put providing a clear azimuth to an objective that they can all see and obtain. In the most dangerous of panic situations, the resolution can require unorthodox actions often at great personal risk.