So what your saying is that the common corporate practice of lifting CEO's across sectors into companies they have no experience with directly is an recipe for disaster?
The government have exactly the same options to hire experienced people as any company in existence, so if the government cant replace bad manage neither can the private sector.
Once you have a bailout you have by definition incompetent owners and an/or management team that cant do their job properly, bankruptcy forces that to become clear by forcing the incumbent owners to face losses, bailout on the other hand keeps the rot in place.
The government have exactly the same options to hire experienced people as any company in existence, so if the government cant replace bad manage neither can the private sector.
Once you have a bailout you have by definition incompetent owners and an/or management team that cant do their job properly, bankruptcy forces that to become clear by forcing the incumbent owners to face losses, bailout on the other hand keeps the rot in place.