The question of going back is extremely difficult. How far you go back is a major problem. You may have to go back, if you really want to, all the way back to 2001-2002. One of the first few companies to go into a similar kind of liquidation was the Atlas steel company in 2001-2002. Do you really want to go back that far? I'm not sure.
That's the fundamental question the government will have to ask when they think of going back in time. How far has the damage reached? Is the damage still continuing? Can it be rectified?
In the case of Nortel, it's a very recent happening, and the damage can and should be rectified.