Relying on the Govt to make smart "investment" decisions is the LAST reason to think that they wouldn't let them just go BK. Imagine, if you will, it gets bad enough that the govt just "brokers" a deal between the legacies where one doesn't cease, but is forcibly folded into the others.
At the end of the day, the govt only worries about one thing, employment. If someone comes in and says little to no one besides mgmt will be let go, it will make heads spin to see how fast one of the legacies could be forced to fragment.