Disagree strongly. I’ve lived in places that ban payday loans and it just goes underground.

What you’re approach is, is to just han things because “people are too dumb to make good choices”. I’d prefer not to live in a society like that.

And I’m kinda surprised you left out mortgages. The US has far less mortgage debt than other Western countries. Sure they don’t take on student loans, but they seem happy to take on massive mortgages.