How did ed mcmahon go broke?

Question

Out of all the people I would expect to be broke I never thought ed mcmahon would be one of them .You would think at his age he would know how to manage his money better.

http://ap.google.com/article/ALeqM5hnRDS...

Answer 1

Mr. McMahon broke his neck and is still recovery. This is why he could not keep up his payments on his house. Several people would like to help his out  with his house payments.

Answer 2

his wife was a spending person

Answer 3

i was shocked too when i saw this on tv. i guess he helped his friends and didn't think which is what alot of people do and they dont' invest and take care of themselves. that is sad but maybe these people he helped out will come to his side and help him i sure hope so. that is so sad since hes very old but i have seen where people in late 70's shouldn't be taking many things as their checking and redoing stuff cause they are at times not as competlent and they seem.

Answer 4

I think it is a ruse to get people to feel sorry for him so he brings attention to his injury and gets a lot of money in a pending lawsuit.  He probably has $ in a Swiss account . On Larry King his wife said, Oh we will be ok eventually.  Yeah that says it all.

Answer 5

Probably because he gave it all away.

And his wife,

dirty little gold digger.

Answer 6

It is very sad. I watched the Larry King Live interview with him and his wife. It seems like to was a combination of several factors. Bad accounting/finance management, he broke his neck 3 years ago and hasn't been able to work, etc. Very sad. These hard times are hitting everyone. He is not the only one in Hollywood who is in serious trouble. Like some many others who are not in Hollywood.