Last night, they ran another episode from their series "The Men Who Built America" on Andrew Carnegie's early years focusing on the Eads Bridge.

What does this have to do with the government manage bankruptcy of GM you might ask?

One of the things I took away from the episode (and the series), was the reminder that there were entrepreneurs starting up businesses and undertaking projects over a century ago that rivaled GM in their size and scope compared to today. They undertook made risky decisions, all with the understanding that if things went south, they were done.

No bailouts.

No government "loans".

No "loan guarantees"

No "managed bankruptcy".