For every problem there is an answer. So let us define the problem and look for answers.

Problem. I define the problem as a total melt down in the credit system.

Action. Spit the financial and business world into two divisions.
1. Those businesses that are financially sound.
2. Those that are not.

Split 2 into two divisions.
a. Those that are worth saving.
b. Those that are not worth saving.

By getting rid of 2b we cut off the dead wood (any gardener or farmer would do that as a matter of course)

Examine 2a and select the ones that have the best chance of surviving and then within the budget available help them survive.

To me it is as simple as that. That is how I am selecting the stocks I will continue to hold. Mainly those that are not caught up with the credit problem and have sufficient finance to weather the storm.