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We rated a similarly worded claim from Trump’s former primary rival Carly Fiorina Mostly True, because it’s not accurate to say Trump is solely to blame. (For the record, Trump doesn’t deny the charge and instead argues it was a smart business decision.) At the time, we found four bankruptcies, but since then, we’ve found two more for a total of six. So Clinton was right that Trump bankrupted companies four times, and she could have offered a higher count as well.

Whose fault is it anyways?

Experts told us during the primary season Trump alone didn’t cause the bankruptcies. While six in 25 years is a lot, five were tied to a struggling gaming industry.

Trump was acting, they said, as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, Adam Levitin, a law professor at Georgetown University, previously told us.

He added that people typically wouldn’t personally blame former Republican presidential candidate Mitt Romney or investor Warren Buffett for individual failures within their investment companies, Bain Capital and Berkshire Hathaway, respectively.

"The only difference is that Trump puts his name on his companies, which means people associate them with him, but he's not at all the leader in the bankruptcy space," Levitin said.

But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.