On the Tonight Show, the president says, “Look, first of all, everybody should have complete confidence in the banks. [Their] deposits are protected. They shouldn’t be putting it in their mattresses.”

They are worried. The banking-government establishment fears that Americans are increasingly distrustful of the banking system and might begin pulling their money out and expose the insolvency of the whole industry. Obama says keep all your cash in the bank. This is a good time to recall Rockwell’s law.

Update: One silver lining from this appearance: The MSM fears it did nothing to bolster respect in the presidency.