Unless we understand this correctly, we may end up with unintended consequences of having killed the messenger as the first way to deal with the crisis. There is a broad consensus that, if these global imbalances persist for a long time, the situation will develop into a global crisis or at least provide fertile soil for it.
Response to September 11 On Tuesday, September 11, terrorists destroyed a portion of the critical infrastructure that supports the U.S. financial markets, disrupted communications networks, and forced numerous market participants to move to contingency sites. These challenges, along with the tragic loss of employees of a few major financial firms, complicated trading, clearing, and settlement of a number of financial instruments.