Just wanted to say that we are unrealistic, when we are demanding that people act honorably in this economic crisis.

Yes, lenders were pressed to start serving those who were, let's say, risky borrowers, but once started, then whoever joined, were getting loans right and left. 

When we open the floodgates, the water rushes through and it takes everything with it. You may try to resist, but the mighty power of the flow will suck everyone into it. It is like staying in the way of a tsunami...

I think we opened the floodgates without any exit strategy, any idea how it might affect us in the future. But when it happened, it is late to say that those who can pay, pay, and those who can't, join the flow.

Every flood brings a lot of mud. Same here. In that flood we have deserving and not deserving, or partially deserving, but it all does not matter, they are all in the flood, and we would be giving life jackets to all of them (or very many of them). It will take a long time for the mud to settle.

That flood has consequences, that we do not even think of. We may have an angry next generation, who would hate us for "selling" them for a minute gain, political popularity, ideological agenda, you name it. We so far are trying to see economical consequences, and we are not happy with them, but there are social consequences as well, and their long lasting effect is not known to us.

Now, that we allowed the floodgate to open, we will have to wait until the mud settles. This mud will become a fertile soil for something new and better.

Though no clue how long that would take.