I’m curious how the people who believe this is what happens think the LBO firms keep getting credit. The banks that end up holding the bag in this imaginary ban

I’m curious how the people who believe this is what happens think the LBO firms keep getting credit. The banks that end up holding the bag in this imaginary bankruptcy scenario are just idiots who keep falling for it over and over again? Like Charlie Brown with the football? If this is a thing that they all do all the time and the creditors always lose, how do the creditors not learn? Or is it possible that that’s just a story based on events that happened a few times and were extrapolated to be believed to be the norm?