Yep..................

"....we should think of financial shocks as closer to commonplace than to exceptional is based on history. Consider the United States over the past thirty or so years. By my count, there have been six distinct times over that period when financial developments posed important macroeconomic risks. In three of them, the risks were largely averted and the costs ended up being minor. In two, the costs were modest to moderate. And in one, the damage was enormous."
-David Romer, as excerpted from here

If you doubt his premise, you might want to review this history lesson.
thanks Greg