Re: Moral dimension
"What would have happened if NR were allowed to fold like any other business?"
NR was, relatively speaking, small potatoes. The bigger question is why, around the world, a great many more banks were bailed out. To answer that question, you need to start by consider what happens when the finance system collapses.
The problem with banks is, I think, that we can't afford to treat them like any other business.