If you are talking about Tulkas then I think this is a bit harsh.  I see the site constantly learning from mistakes and getting better.  Eliminating anon accounts is a huge step in the right direction.  Limiting the number of loans would also be a great advance.  I think Tulkas is doing a great job of taking feedback and constantly improving the site.  Over the last few months it has gotten better and safer with every update.

Having said that, the day you are able to recover funds from one of the many deadbeats is the day business on this site will explode!