Did you know that Vin Baker made over $89 million and Latrell Sprewell over $90 million

Question

during there NBA carreers, and both of there homes are in foreclosure. Jose Conseco has a home in foreclosure. Millionaire Ed McMahon has his home in foreclosure. What did these superstars do to put themselves in this position? Doesn't everyone else now have to front the bill?

Answer 1

As my father said.

"Just because you are rich and powerful, doesn't mean you are not stupid!"

Answer 2

It is very sad to see these wealthy people not managing their money well. There is no reason they should have these issues given the amount of money they have. It just goes to show that anyone can outspend their resources - even people who make insane amounts of money. Hopefully, the taxpayers will not be forced to cover these losses but that is up to Congress. Hopefully, they will let these folks learn from their mistakes instead of making the rest of us cover the costs.