The expression "Failure is not an option" may be a motivator for very high-risk situations, but failure must always be an option for players in a properly functioning market economy. If you had a choice between buying a bond issued by a company considered "too big to fail" - which is an implicit government guarantee of its debt - would you buy that bond or one issued by a company without a government guarantee? Companies with government guarantees will be able to borrow at less cost, and, ultimately, their unfair competitive advantage will drive the companies without guarantees out of...