squeak, agreed 100%. GM needed help for years with its antiquated structure, but nothing could be done until it was do-or-die. Many schools could benefit from outside assistance.
There are 3 possibilities for BYoBP:
1. Let them close, free-market style. Unfortunately, it is too big to fail, though it never should have gotten to that point. Furthermore, the “let them all lose their jobs and disrupt the students’ life” is not what being rachmanim bnei rachmanim is about.
2. Give them an unconditional bailout, which is what MESILA recommends against. You’re just shoving money into a money pit, and the problem will resurface in the future.
3. Give them a conditional bailout. Clean up the detritus, and make new policies to prevent this from happening. Furthermore, any bloated salaries should be cut down to a more manageable size, and make long-needed personnel changes that were politically incorrect when the school was managing. It’s better for 3 people to be fired than for dozens to be unemployed and dozens of kids be left without a school.