Regulation and laissez-faire

"Capitalism and the Financial Crisis" by Walter Williams:

It is incorrect to say that laissez-faire or free markets are unregulated. There is ruthless regulation, but it's not by government ....

When businesses make unwise decisions that lead to bankruptcy, their assets are sold off to someone else who might be able to put them to wiser use. Government bailouts give businesses a reprieve that the market wouldn't give them.