In part, this reflects the fact that today’s market participants generally have the capacity - and many have little choice, under mark-to-market accounting - - to digest losses and move on. The broader sourcing of capital today also gives more scope to the possibility that, while some investors may withdraw, others may take their place.
In the United States, the nonstandard monetary expansion applied during more than four years has not precluded the economic upturn from being the slowest in the post-war period, with the economy remaining below its secular trend.