Even Trump has come close or filed BK on various businesses in the past
R/ ERADICATOR
Um… Read the fine print. Bankruptcy has been around trump's businesses and less so of his personal fortunes..
You don't get it do you? For someone like Trump, bankruptcy doesn't mean disaster. It's can (and has been played out) as leverage. You forget one very key point.
If you or I go bankrupt with $10k or $100k or even $1million owed to the creditors, who's problem is it?
Answer: yours and mine.
However, if someone like trump goes bankrupt with hundreds of millions owed to the creditors, who's problem is it?
Answer: Yup, the creditors. Creditors didn't let trump's biz go bankrupt, because of the sheer size of the debt would have had drastic repurcussions. hence they bailed him out by restructuring trump business' debt.
For average joe individually, banks do give a rats ass, because we're such a small potato. In this environment though with the RE markets, it's a different story, not because of each individual matter to the bank, it's just because the sheer amount of trouble across so many people, banks have no choice but to shore things up. And frankly the problem right now isn't really the banks problem anymore…It's the government's.
Similarly, you could even make a case that the US government's debt is so unwieldy and unmanageable, it's really not our problem alone anymore.
