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[–] Comrade_Meow 2 points 1 point 3 points (+3|-2) ago
I think they should really change the term "bankruptcy" because it has such a negative connotation that makes everyone assume the same thing: they lost all their moneyand can't pay their debts.
There's multiple kinds of bankruptcy that can be filed for a multitude of reasons that are often just the best financial decision a person can make at a given point in time.
50 Cent just declared bankruptcy. I'm sure most people will read that and instantly assume he spent all his money on stupid shit and is now virtually broke, but not at all. He just got sued and had to pay out a large sum of cash in a short period of time and he needed more time to liquidate some of his assets in order to do so.
Trump having filed for bankruptcy doesn't necessarily mean he's bad with money, sometimes the system just fucks you and it's the best option in the long run.