Biden overstepped his authority and SC stopped loan forgiveness

[Luvnit2]

(07-01-2023, 01:48 AM)pally Wrote: People like Donald Trump take out loans all the time for business.  Then after mismanaging said business into the ground, declare bankruptcy thus screwing all their vendors out of their due.  But apparently that’s okay

Poor comparison. The banks get screwed. The government does not pay the banks or those owed money in a bankruptcy.


Also individuals file for bankruptcy more than businesses, again government does not pay their creditors, they are just screwed.

https://usafacts.org/articles/bankruptcy-in-the-us-how-many-companies-file-for-chapter-7-chapter-11-and-chapter-13/

While high profile bankruptcies such as Bed Bath & Beyond or Toys ‘R’ Us make headlines, business bankruptcies are a small share of overall bankruptcies. In 2022 they were 3.4% of filings, compared to 96.6% filed by non-business entities, including individuals.