That is why I believe the job of regulators could be made easier if a certain degree of standardisation was explored, identifying high quality ABS from other types of ABS. This would also provide greater confidence for market participants. The ECB through its collateral eligibility criteria for monetary policy operations has been defining standards for adequate ABS.
Banks and financial institutions will have to take full responsibility for their products and services because I feel quite certain that the generous financial packages now offered by governments and central banks will undeniably cease in the near future. And they ought to cease.