Both these factors were clear precursors of unsustainable bubbles, which were ignored in general because of the pre-crisis phase of high global growth with low inflation. BIS Review 116/2009  1  Growing bubbles The Fed’s monetary policy stance before the crisis created the general impression over time that the interest of capital in a free market economy can never be at risk.
Even so, we are not yet realising the full benefits of this feature of the system and financial institutions have more work to do to promote awareness and adoption of this functionality among their customers.