The leverage is why it only took 7% of borrowers not paying to bring down the whole system. Banks were leveraged 40 to 1 and the value of their collateralized

The leverage is why it only took 7% of borrowers not paying to bring down the whole system. Banks were leveraged 40 to 1 and the value of their collateralized bonds fell a few percentage points, that's it. Yes, that is what our entire society is based around, the assurance that this doesn't happen.