&gt;<i>banks which had lent lots of money without oversight</i><p>If you sign a legally binding document that you will repay a loan, plus interest, or your assets are on the line, what &quot;oversight&quot; do you need?  Wouldn&#x27;t the world be a better place if people paid money back as contracted, rather than ripping off (and somehow blaming) the lender?  If you don&#x27;t like the terms, don&#x27;t accept them.  &quot;But we need money!&quot; isn&#x27;t an excuse.