It's also about what signals it would send. That contracts are binding is not only the foundation of Capitalism but of all civilization since antiquity. Invalid

It's also about what signals it would send. That contracts are binding is not only the foundation of Capitalism but of all civilization since antiquity. Invalidating contracts by government decree would roughly be as disruptive as a Communist revolution. A global recession is preferable to changing 2,000+ year old legal principles.