[norwaypinesavage]

There can be a great difference between doing what is legally right, and what is morally right. A rich man can start a company, an LLC (Limited Liability Corporation). That rich person can make some bad decisions, leaving the company broke. The rich person can then file for bankruptcy, stiffing all the people to whom he owes money, who loaned him money based on his personal reputation. These people loose, while the rich man, who has more than enough reserves, to pay them back, wins.

This may be legally correct, but is it morally correct? It is Donald Trump, at least three times over.

[KevinB]

There is a reason it’s called a limited liability company. People who do business with a limited liability company are on notice that they are relying only on the assets of the company. If they are not willing to take that risk they need to get a personal guaranty from your rich guy. The whole business world understands this. Some folks gamble and lose.