I'm often hesitant to consider intent as an important factor, but in my opinion it is one here.
In those situations the governments step in with the intent of bailing out the banks. That bailout does happen to help individuals with debt, but the timing and messaging will always make clear that the government was only willing to step in once a banking crisis was a high risk. Borrows often hurt for months or years before the banks show cracks, the government is almost never doing anything about it when only the borrowers are hurting.
To add examples to my vague use of "always" above, I'd point to the housing crisis and student debt in the US.
Individual borrowers were falling behind on mortgages for a year or two prior to the bailouts. Only after banks recognized the train wreck coming due to the MBS bets and did their best to secure their own positions did the government step in.
Student debt in the US has been a growing problem my entire adult life. Not only is it a type of debt that can't be discharged, lending practices have created a vicious feedback loop with universities continuing to raise tuition and lenders happily writing the notes and expecting the government to deal with it. The Biden administration actually did put in the effort to help borrowers, but banks weren't in trouble and ultimately there just isn't political will to do anything about it until banks (and politicians' investments) are at risk.
In those situations the governments step in with the intent of bailing out the banks. That bailout does happen to help individuals with debt, but the timing and messaging will always make clear that the government was only willing to step in once a banking crisis was a high risk. Borrows often hurt for months or years before the banks show cracks, the government is almost never doing anything about it when only the borrowers are hurting.
To add examples to my vague use of "always" above, I'd point to the housing crisis and student debt in the US.
Individual borrowers were falling behind on mortgages for a year or two prior to the bailouts. Only after banks recognized the train wreck coming due to the MBS bets and did their best to secure their own positions did the government step in.
Student debt in the US has been a growing problem my entire adult life. Not only is it a type of debt that can't be discharged, lending practices have created a vicious feedback loop with universities continuing to raise tuition and lenders happily writing the notes and expecting the government to deal with it. The Biden administration actually did put in the effort to help borrowers, but banks weren't in trouble and ultimately there just isn't political will to do anything about it until banks (and politicians' investments) are at risk.