It’s the same fucking reason Michael Scott isn’t bankrupt when he says, “I declare bankruptcy”

Which is funny to the audience because everyone knows that’s not how banking works. It took me a while to find out what exactly was missing because the definition - which is a translation of the original - is full of “term of art” hidden jargon. Easy traps for outsiders. I’m not trying to get out of being wrong btw, just saying that there is probably a reason this is a common misunderstanding and not a matter of being dumb.