“You ran up mountains of debt, as well as losses, using other people’s money, and you were forced to file for bankruptcy not once, not twice, four times.”
Carly Fiorina to Donald Trump
You may think that having a billionaire as president is a good thing, since he must understand how to manage money.
But what about a billionaire who has declared bankruptcy four times? Given that the U.S. is $19 trillion in debt (and that’s just federal debt), maybe it’s a good idea to elect Donald Trump president. His first act in office can be to declare the U.S. bankrupt and get us out of paying off all of that debt.
To be fair, Mr. Trump’s bankruptcies were not Chapter 7 bankruptcies, in which anything of value is typically liquidated, leaving creditors with pennies on the dollar. They were Chapter 11 bankruptcies, in which a restructuring takes place.
But creditors still lose plenty in such cases. So you may interpret the bankruptcies to mean that Mr. Trump took advantage of other people to enrich himself, which would make him unethical. Or you may interpret them to mean that Mr. Trump is incompetent.
Maybe, given his tendency to borrow more than he needs at very high interest rates, both answers are correct. At least National Review makes The Donald seem neither ethical nor competent: