Before revision:  Asset backed securities have been extensively criticised for creating a moral hazard in loan issuance by removing any incentive on the lender to ensure that the recipient of such loans could repay them. However the inter-relationship between money and loans within the commercial banking system, also suggests that deeper systemic issues can accompany any form of unlimited commercial bank lending .
After revision:  Asset backed securities have been extensively criticised for creating a moral hazard in loan issuance by removing any incentive on the lender to ensure that the underlying loans could be repaid. However significant monetary issues can accompany any form of unlimited commercial bank lending .