If anyone has been here for any length of time on earth, this is just another financial turning. We've been here before, it will happen again up and until the gov't takes control of everyone's money if that happens. Banks have been going under since the first bank. Most of the time they are bought out.
Those who plan on these turns, will come thru just fine. Those who don't, good luck.
I remember having a mortgage at 16% interest at one short time way back when, Long gas lines, rationed gas, empty grocery stores and cars without factory AC, people lined up at places to sell off grandmas gold and silver.
My mom was one of those who never saved a dime, no pension and crap SS of 1200 a month. Came to live with my wife and I cause she had a 300k mortgage on her house from refinancing to go on cruises for 15 years and not realizing you have to pay piper. 25 years in a home and got 25k at sale at 82.
Had to go on medicade for an assisted living facility when she got too sick to care for and dies 6 months later.