[jimkleiber]

Maybe the stronger argument is that it's not in the best interest of the community for a member to go bankrupt, even if it's what that one member believes is in their own best interest. Maybe bankrupt is not the best example, because bankruptcy law actually is a social safety net to help people not get indebted for life, or even pass on all that debt to future generations.

That being said, I think the individual vs communal risk decision and regulation is complex and really depends on the situation.