And that's why the federal government provided General Motors and Chrysler with emergency loans to prevent their sudden collapse at the end of last year -- only on the condition that they would develop plans to restructure.
WHITEHOUSE: President Obama on Stabilizing the Auto Industry
Systems of banking, energy, transportation, food production and delivery, water, emergency services, and even cyberspace would collapse.
But delegates did begin to lay plans for cross-border communication and cooperation in the event of major meltdowns: work-arounds so commerce can continue and emergency services can be provided if systems collapse.
That shortage of cash played a role in taking Northern Rock to the brink of collapse, made it impossible for HBOS and Royal Bank of Scotland to survive without emergency loans from the Bank of England, and was an important factor in the collapse of Lehman Bros.
The IMF encouraged Egypt to apply for emergency short-term financing to stave off collapse of its crisis-stricken economy.
Primark says it will pay compensation and offer emergency food aid to victims of the Bangladesh factory collapse who worked for its supplier.
Such emergency legislation has only been used nine times since the collapse of Greece's military dictatorship in 1974.
The ECB said after the vote that it would continue to provide emergency liquidity to Cypriot banks to make sure they do not collapse.
Meanwhile, emergency workers in Dar es Salaam have stopped rescue operations following the collapse of a multi-storey building on Friday.
The first official inquiry into Tower Seven by the Federal Emergency Management Agency was unable to be definitive about what caused its collapse.
The Cypriot president said if he hadn't accepted the tax on bank deposits, the European Central Bank would have stopped providing emergency funds to the country's top two lenders which would have led to the collapse of the banking system, the bankruptcy of thousands of small businesses, massive job losses, and ultimately the country's exit from the euro.
But this willfully ignores the fact that the entire industry benefited not only from the bailout, but from the assistance extended to AIG and homeowners, and from the many unprecedented emergency actions taken by the Federal Reserve, the FDIC, and others to prevent a financial collapse.
WHITEHOUSE: Weekly Address: Getting Our Money Back from Wall Street
Emergency services in western Poland have rescued 19 miners who were trapped underground when a minor earthquake caused a tunnel to collapse.
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