Who said anything about 'morality'? The evidence of disaster of letting people with excess wealth make loans they don't suffer consequences for is everywhere. To be a reductionist and say 'risk management is just x, what's the problem?' is lazy.
Oh, and I was talking about the government, not banks. They caused the student loan crisis. It doesn't matter though, since my point is about any entity with excess wealth. I don't care about banks in particular.
The student loan crisis is a good example of where people's misunderstandings of finance lead them astray. There's a pervasive idea that the crisis is related to banks making it irresponsibly easy to get a loan. But since 2010, the vast majority of new student loans have come directly from the Department of Education, generally with lower prices than private lenders offer.