Monaghan and Sporting Fingal were both Premier clubs at the time they went bust. The problems of the FD are not related to their going bust but to the LOI solution of filling the gaps from (potential) FD clubs - through additional promotion and/or no relegation.
Would a single Division have "saved" Fingal ? No. Monaghan ? no again. Galway ? see previous answer. Would it have prevented the problems Shams, Shels, Cork Bohs etc got themselves into ? Of course not.
Clubs can and have gone bust in a single division entity so it is no solution to clubs going bust. Proper rigourous licencing is probobly the best/only deterrent and that can/cant apply irrespective of the number of Divisions.
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