The difference is, Trump declared Chapter 11 four times. He did everything within the confines of the law. Furthermore, his companies were not bailed out by taxpayers. All of the companies that went bankrupt were either in the casino or hotel industry or both like in the case of Trump Hotels and Casino Resorts. As we all know, the casino and hospitality industry has not been doing so well in the past 25 years and Atlantic City was almost a ghost town in the 80s and 90s. For the most part, he simply gave up his stake in the business to gain more favorable interest or even wipe out a portion of the debt. Also, last time I checked the Trump Plaza Hotel and the Taj Mahal Casino are still open. Furthermore, he declared Chapter 11 - which is more of a reorganization of debt than an actual bankruptcy - so the employees continued working and business went on - this wasn't a Chapter 7 bankruptcy which ceases business operations.
Unlike the banks and the auto industry, tax payers did not have to bail out Trump or any of his businesses. He simply shifted ownership - and in many cases the lenders allowed him, and even wanted him, to stay as CEO or other high ranking executive position since they knew he was a savvy businessman and would run the business. I forgot which business it was, but he remained as CEO and agreed not to earn a salary. Another one of the reasons that Trump still had control of the properties and they continued to operate is that the banks first gave him a 'junk bond' type loan, which were extremely popular in the 80s and early 90s, but ultimately had to give him a better rate if they ever wanted to get their money + interest.
Quite frankly, if filing chapter 11 allowed me to finish grad school, get a ton of student loans, then declare bankruptcy so I don't have to pay them off and the only consequence I'd really have is a bad credit score for 10 years, which I pay cash for everything anyway, you bet I'd do it.
Considering all the companies, properties, and other assets that Trump has - 4 chapter 11 bankruptcies in a multi billion dollar portfolio is not a huge deal. At least with the Taj Majal deal he was simply overextended, was paying some 14% interest, and quite frankly Atlantic City wasn't what it is now. The reason why he declared Chapter 11 on the Taj is because he missed his first interest payment. If only all people would call their mortgage or car payment company to renegotiate terms after missing their 1st payment...
Without the court documents, it's hard to determine if Trump was just taking advantage of the law or his lenders since they were in a more precarious situation than him - I'm assuming it was a combination of both.
You know who else filed Chapter 11? Texaco, Delta Airlines, Chrysler, General Motors, Washington Mutual, United Airlines - all of which are still operational... The problem is, a lot of these people who whine and say Ahh Trump's a bankrupt - he's a terrible businessman - he's been bankrupt four times - yet they won't bother to do some research to find out what type of bankruptcy it was, how it affected the US taxpayer - if at all, if these businesses are still open or not, etc.