People have been accustomed to constant bail outs.  In the last two decades we have had constant bailouts, QE and the fed never more than now is no longer independent of itself.  20 plus years ago I had a great career with a great company working in NYC.  My largest account was a level one trauma catholic medical center in lower NYC.  They got into serious debt and as in the past they would be bailed out by the government, but not this time.  This time the bar bill was too high and they said no.  MD's and all medical staff believed they would be saved up until the 11th hour but no bailout.  The CEO's of the hospital had gutted the system and left it for dead.  No one was prosecuted as thousands lost their jobs and all the little coffee shops around it.  At the end of the day, no one cared.  I ended up losing my job because it was 80% of my revenue.  I thought I would be with that company for most of my career.  It took a couple years to recover, I burned through a lot of cash while i was trying to find the next step in my career.    It was a big wake up call and ever since I keep my eyes open.