The write off was not for "bad debt". The write down was for bad investments. The CEO bought $200 million of stock in the companies of his friends. Yep, he gave your money to his friends. Now that those stocks are worthless, he had to write off those "investments (really gifts).
The CEO is giving your money away to his friends. But keep giving your money to Bernie Madoff. Don't listen to the "bashers" no matter how right they have been.