President Trump, First Lady Melania Test Positive for Coronavirus

[ArmedProgrammer]

It’s worth drawing a distinction between personal and business bankruptcy. In private life bankruptcy is a fair sign that someone has a hard time managing their money. Not always. Sometimes **** happens. With business there’s the same mind of **** happens thing, where it’s not necessarily irresponsible behavior that gets you to that point. But also there is the practice of using bankruptcy as a financial tool. Personally I think that is immoral, because you’re trying to get out of paying creditors what they’re owed.

Here's the thing - if you do that as a way to do business , then soon enough, no one will do business with you. In energy trading, you have to take counterparty risk into account. If you don't , you will wind up with a lot of worthless paper on your hands.

 

[Ingomike]

Dupe

 

[Ingomike]

So reducing it to a pragmatic level, you have 2 friends that want you to help out by loaning them a down payment on a car. One had declared bankruptcy a couple of times due to financial mismanagement not medical conditions or some other
unforeseen circumstances and the other hadn't, thr bankruptcies would not make your pros/cons list?

Did I miss the topic of creditworthiness? I said my opinion of them as people. I would not loan money to either one. And personal bankruptcy is personal, corporate bankruptcies are business. We all do business with many corporations that have filed bankruptcy, and I often cheer them to fully recover and support them, not shun them because of it.

 

[Ingomike]

It’s worth drawing a distinction between personal and business bankruptcy. In private life bankruptcy is a fair sign that someone has a hard time managing their money. Not always. Sometimes **** happens. With business there’s the same mind of **** happens thing, where it’s not necessarily irresponsible behavior that gets you to that point. But also there is the practice of using bankruptcy as a financial tool. Personally I think that is immoral, because you’re trying to get out of paying creditors what they’re owed.

Most business bankruptcies are reorganization not dump all the debt as I understand it...

 

[terrehautian]

If trump bought Columbia house in the 90’s during their prime, then with the advent of digital media, goes bankrupt and closes, it really wouldn’t be his fault, times change. Some sure would blame trunk though. I’m sure some of those business bankruptcies were conditions of changing times, not just financial mismanagement. Anyone got information on his businesses bankruptcy filings?

 

[chipbennett]

Seems doesn't mean is. Its neither necessary or sufficient but could be correlative

Indeed. The use of seems was intentional.