Ignore the Urge to Bail

This column was originally published on RealMoney on March 14 at 6:39 a.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

Bad. Real bad. Sell. Get out now.

There, I gave the bears what they wanted. It's so easy. It's what people want me to say. And it would be comforting. I have a big retail audience. I could easily panic them out of everything. Why not? Subprime could spread to prime. Bear(BSC Quote) and Merrill Lynch(MER Quote) bought subprime at the high. Mortgages are resetting higher like mad. Has to crimp consumer spending. The rot is deep, affecting everyone from GM(GM Quote) to GE(GE Quote).

There. I feel better. Or do I? ...