Recourse Debt Vs Nonrecourse Debt

http://en.wikipedia.org/wiki/Recourse_debt
http://en.wikipedia.org/wiki/Nonrecourse_debt

In the US, home mortgage is nonrecourse debt where the home owner can walk off their mortgage without worrying about their other investment such as 401K and other assets. On the other hand, in Canada home mortgage is recourse debt. Bank can go after pretty much all your other assets and investment if you walk off your mortgage.

Which is better for Society?
Personally, I think Recourse Debt is better for society as the borrowers will be held full accountable for their action. It will more likely to make the borrowers think twice before they take a big mortgage. It's all fair and square. Why should tax payers take the hit for their irresponsible action?

Your thought?