I wholeheartedly agree with you, but the fault lies with the Federal Reserve, which has been promoting reckless behavior for years now. Artificially setting in

I wholeheartedly agree with you, but the fault lies with the Federal Reserve, which has been promoting reckless behavior for years now. Artificially setting interest rates so low (say 1%) that by saving money, you are actually losing money to inflation (real inflation at least 5%, if you include healthcare, real estate and higher education) promotes over-leveraging and that's what we got.