That particular crisis was missed by just about every central bank until it collapsed. It was due to the leverage being hidden behind traditionally solid assets

That particular crisis was missed by just about every central bank until it collapsed. It was due to the leverage being hidden behind traditionally solid assets. That kind of surprise collapse today is unlikely with tech stocks - that is already known and widely planned for volatility. What has not been planned for is possible collapse of commercial real estate valuations which did not anticipate much volatility. The whole game of increasing interest rates is to increase the strain gradually to slow and hopefully not collapse portions of the economy. But we will see as the entire world seems to be more wobbly operating on entrenched assumptions.