See link above, may assist some with dated definitions of a company bailout.
At or around the time just before the onset of the GFC, there was considerable public and market discussions as to the need or otherwise for reform of the four pillars policy, or more to the point, some leading banking identities wanted to make it a three pillars policy by at least one banking merger.
Then Federal Labor Treasurer Wayne Swan and govt members rejected it out of hand by referring to the need for more rather than less, banking competition, and the Govt would not approve any such changes to those coveted banking licenses.
Needless to say, the chorus of self-entitlement from the majors was as expected, not the least of which emanated from then NAB (holder) CEO Don Argus who publicly rebuked Swan and others as to the role of Govt to leave the private sector to its own devices and policies and not intervene in commercial decisions.
Then just a few weeks later, the same pampered and protected bankers were on the doorstep of PH Canberra, demanding the Federal Labor Cabinet bailout the near teetering banking sector.
WBC Price at posting:
$31.40 Sentiment: None Disclosure: Held
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