So if you, in good conscience, cannot permit a bankrupt entity to borrow even more money, then you can’t be part of the solution to going more bankrupt.
And let’s be clear about this: There’s no bank in the world that would lend to a private person or institution that had a total debt of some seven times it’s gross revenue.
(Hint: Go try to get a mortgage with that sort of debt profile. You’ll get laughed out of the building – well, you will now. In 2005 with an OptionARM? No problem – just go “NINJA”. Of course we know how that ended, right?)