It was a business. Have you ever opened a small business? Most small business, around 50 percent according to the SBA fail within five years. Of those 36 percent file bankruptcies. That is risk and reward. The same happens with larger firms and spinoffs. Some make and some fail. A lender has to weigh the risk when loaning money. They do this all the time.
Trump nor his spin off businesses defrauded people. It is just the way the world works. How many new job creating business has Cruz, or Rubio started? How many jobs did they create outside their political campaigns? How many jobs did people lose working for them? Measure those against what Trump has accomplished and then get back.
Add to that that Trump knows what it is to have to meet a payroll every single week. And his is a huge payroll. No politicians knows how difficult that is. Trump understands the real world.