To me, this criticism is similar to asserting that mandating seat belts in cars has led to more traffic accidents because they give drivers a sense of security. And it is probably true when looked at narrowly. Policies should be judged from a general equilibrium perspective, however.
Damped fluctuations in economic activity and the containment of financial crises has made the populace, at large, better off. That some view this security as reason to be less cautious does not seem especially damaging to welfare.