No policymaker wants to be in a position in which concern over moral hazard creates the dilemma of either taking an action that is extremely costly to the economy to teach some people a lesson, or else doing something that may well encourage undesirable behavior in the future.
Both in the design of the system, and in its operation, we need to do whatever we can to avoid placing decision-makers in such a situation. If we do find ourselves in such a situation, it is too late – for it is a mistake to inflict serious and unwarranted damage on many people in order to teach a lesson to a few.