Is there any reason to believe that “debt forgiveness in general is a terrible precedent to set”? The major example of debt forgiveness I can think of is bankr

Is there any reason to believe that “debt forgiveness in general is a terrible precedent to set”? The major example of debt forgiveness I can think of is bankruptcy and as far as I am aware American bankruptcy laws are considered excellent precisely because of the forgiveness. But setting aside the general case, forgiveness for massive widespread known fraud is probably the easiest example of a case where it can be achieved successfully.