Is it really a risk if you know you can't fail?

Is it really a risk if you know you can't fail? Kevin Phillips of the Wall Street Journal writes:

"risk has been off-loaded by wealthy Wall Streeters onto taxpayers. He says the government’s actions in the recent financial crisis — especially the Fed’s backing of $29 billion of Bear Stearns assets and lending directly to Wall Street firms — show government will bail out financial players when they get into serious trouble. Risk, he says, has become “socialized,” while rewards have been privatized."- WSJ

If the government continues to reward firms who assume too much risk by "bailing them out" where is the incentive for them not to take on so much risk? There isn't. If every time I decided to take a chance and knew in the back of my mind that if things did not come to pass I would be helped back on my feet by an outside party then is it really a risk? Thats what businesses do, they succeed or they fail. Stop interfering and let free markets take their course. Further down the "Road to Serfdom." Here is the link to the entire article.