When every org, smb, landlord and individual takes on too much leverage, it is the macro economic system we exist in that is at fault
Which is something else then "my company took on way too much leverage".
I never pretended I am poor. I work as programmer and so does my partner. Most people on this forum are not poor. We are comparatively well paid group.
There is debt and then there is excessive debt or "leverage". Ans when management take on excessive leverage so that you fulfill your dream of being big and then company fails, yes it is management fault.
"We took excessive debt and then failed by no mistake of ours" is an oxymoron and illogical statement. That is not nearly the same as debt because your kid would die without it or something like that.
But the downside to that is: if in fact you can’t pin this moralistically on bad actors, then you are definitely going to see the same behavior over and over, until policies change.
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.