One thing that seems to amaze me is that these things can actually go on for a very long time. It's like a bubble getting bigger and bigger and still it is holding on and will continue to grow. Even though when the risk is there, they seem to control it very well. That's for now. But I can imagine when this collapses, it will bring everything down for sure.
It is a black swan event. Most banks and financial institutions won't be prepared for this. When it does happen, there will be mayhem.