The FDIC has resolved around 480 smaller banks since the start of the crisis, and it is probably no coincidence that there a few concerns there about “zombie banks”. Dodd-Frank has created a similar resolution framework for larger banks, strengthening market discipline and reducing distorted incentives linked to “too big to fail”.
3 Among others, Kohn (2008) documents the increase in recent decades of U.S. trade links with the rest of the  world, including through internationally integrated production as well as the increased financial linkages of the United States with the rest of the world. 4 Other countries that are also recipients of safe-haven flows include Japan and Switzerland.