In addition to losing the value of their savings and assets, a significant number of low- and moderate-income families have become financially marginalized as a result of the economic crisis.
Another noteworthy fact is that the price adjustment was smooth throughout, there was no gapping in  3  See “Market-making and proprietary trading: industry trends, drivers and policy implications”, CGFS report no. 52, November 2014, for a discussion and analysis of various liquidity metrics. Available at <http://www.bis.org/publ/cgfs52.htm>. 4  Michael Lewis’s ‘Flash Boys’ brought high-frequency trading in equities into popular discourse.