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Any bailout of a private company is a bad decision by our federal government. Private companies have the right to succeed, but they also should have the right to fail.

Bailing on a company is just something you don't do.

Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.

When the banks grow to or when these financial institutions grow to such a size that they can't sustain themselves, or what have you, they have problems, economic problems, or financial problems, they shouldn't be able to look back to you and I, the taxpayer, to be bailed out.

In the business world, we can point to instances when a lack of integrity has bankrupted entire companies - in sectors as different as finance, telecommunications, manufacturing, and energy.

And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.

When a company goes bankrupt, you as a company have absolutely no say whatsoever as to what happens.

In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.

The weakness in the company is if we fail to execute.

State constitutions typically provide that the state first has to service its debt, then make it pension payments, and then pay for services. What we don't know is whether that order will be enforced. And ultimately, the busted state is going to be looking to the federal government for a bailout. Think Greece, but on a much bigger scale.