For sure , that ' s definitely one thing he won ' t get from working 4 hours instead . But that comes handinhand with the risk of significant disappointment . especially in this specific instance if he really did wait a full 4 hours . <| sep |> Bankruptcy is frequently a smart move . Default is a smart personal strategic decision if it preserves your own capital at the expense of your debtors . Romney for example made a career of picking up the pieces of bankruptcies and other failed entities , turning them around into saleable assets attractive to others , and then selling them at massive multiples of his investment costs . As a real estate mogul , Trump similarly is pretty well renowned for turning other people ' s trash into gold . And when his risky bets have turned trash into trash , positioned himself so that he comes out ahead regardless because of smart risk management . Venture capitalism by its very nature expects 7 out of 10 to fail , 2 to break even , and 1 to succeed spectacularly enough to justify everything else . Many many nations have strategically used default to their benefit . Iceland . Russia . Spain . Germany . France . The UK . Greece would definitely benefit in the long run if they jettisoned their pensioners and stuck a middle finger out at the Eurpean Central Bank instead of crippling their future with pawn shop interest . Whether structured , as under chapter 7 or 11 , or even if there are really no rules , such as sovereign defaults , or somewhere in the vast in between , bankruptcy is a potent weapon for getting everything back on track so long as you hold the assets or are pretty high up in the priority chain . That Trump and Romney have been around many bankruptcies and come out smelling like roses gives me more confidence that they know how to take maximum advantage of a asset richdeep debt situation , not less . This is even more vital when virtually all parties involved are deep in the borrowing shithole . By way of comparison , BushObama administrations ' handling of the GM situation was about as cringey as it gets . So many wasted billions for nothing but political ignorance , lack of knowledge and expertise , to be once again footed by the generous American taxpayer and borrowing money from China . There ' s smart bailouts and there ' s dumb ones , and this was definitely amateur hour . America ' s used strategic default to its own massive benefit too . Remember the gold standard ? In 1971 , America pretty much laid a big fuck you to the world when they said you could no longer turn your dollars into gold . Don ' t like it ? You can talk to our aircraft carriers and nuclear weapons .