This adjustment is therefore expected to require some time to work itself out, and during the process financial institutions will have to bear a certain amount of losses. Still, there is a degree of uncertainty as to how the global economy will be influenced by future developments in global financial markets and conditions at financial institutions.
Indeed, there are already signs of this blame and anger emerging in the United States: for much of the last decade, Alan Greenspan was widely assumed to be able to walk on water.