Human societies have learnt and forgotten these lessons several times throughout history. Misbehaviour of big financial institutions, deregulation and perverse incentives created this time the perfect storm that will continue for a protracted period of time to cause slow growth and severe unemployment.
There are also built-in incentives for creditor banks. For instance, housing microfinance loans are eligible as alternative compliance to mandatory credit allocation to agrarian reform and other agricultural credit. In addition, housing microfinance loans shall have an assigned riskweight of as low as 0% (zero) when guaranteed by the Home Guarantee Corporation or a 50% risk-weight if it is not guaranteed.