It is not just the number of bankruptcies but the size. How about the billion or so dollars lost by investors in Trumps bumbling? He made it plain he paid himself first.
The bankers got zinged. They gambled being unsecured. That simple. Not many individual investors, dare I say any individual investors got zinged. Vendors on the other hand, not sure. Haven’t read the bankruptcy Judges ruling or final dispositions in any of the cases.
Coming whole out of an eleven bankruptcy is bad in your eyes... HOW? I have seen it done by only 2 of the owners that declared 11 at my wifes employer. I wholeheartedly respect those two owners. Both times the banks were squeezing them too hard, and were unwilling to be reasonable and renegotiate revolver terms. The banks were unwilling to give up the cash cows they had on their hands, and got burnt as a result.
Reminds me of an adage I learned while trading commodities.
“Pigs get fat, but Hogs get slaughtered”
Knowing the line between the two is tough for bankers.