Posted on 01/23/2014 7:05:22 AM PST by C19fan
Former NFL and star college quarterback Vince Young has filed for Chapter 11 bankruptcy protection only years after signing a massive contract. Mr Young’s reckless spending habits have him running for cover from debt collectors despite making millions during his pro career. The filing was made last week in Houston as two lawsuits seeking more than $2million from the ex-Tennessee Titan were ruled in favor of the plaintiffs.
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I had a high school acquaintance that took basket weaving in college. When he graduated he made custom baskets that fit into the night depository chutes outside of banks. Last I heard he received 15yrs.That's after a few years of getting away with it.
It has been speculated that if all the world’s wealth were suddenly redistributed equally to all people, within one generation it would be back to where it was, simply because some would spend what they had and some would make profits selling what the spenders bought. This is the hardcore truth about collectivism: it goes against human nature and human nature explicitly shows some people are frugal, industrious, entrepreneurial,and some are not. It is common to hear of people who win the lottery and are broke within a few years. It is also common to hear of people who have nothing and within a few years are wealthy. And so it goes.
The answer is don’t pay players 25 million dollars. Lower ticket prices so that fans can better afford to go to games.
It's not the league's responsibility to look after a grown-ass man's personal business.
I’ve been making that argument for a while now. Take all the money from the haves and give it to the don’t haves. It will find its way right back where it came from.
They should feature this dumb $hit on Lottery Losers.
He should have learned to read defenses better and throw over hand. He might have had a longer career...
More like:
1. Declare bankruptcy
1.a insist on keeping all the expensive toys you bought
2. Blame concussions
3. Sue
4. Spend like a drunken sailor again
Most Advisors raid their clients accounts because sport stars are just plain lazy and don’t want to be bothered with stuff like that.
If I ever won the lottery I would set aside a million dollars and let a advisor handle the rest. And I would tell the advisor that I will use the million dollars for my lawyer because if I caught him stealing the advisor would be room temp in a matter of days.
I would not advocate some law but perhaps the leagues and union could agree to pro player salaries can be paid as an annuity instead of a huge lump sum.
You’re suppose to work WITH an advisor. Not FOR an advisor. Giving anyone like that POA of your finances is just foolish. But it sounds like Vince was just loving life....
My definition of friend is someone you can call for bail money at 3am and they don’t ask what you were arrested for.
Heh. Very creative use of baskets; I never would have thought it could be done like that with so many ‘safeguards’ built into banks’ systems. Bug duh on me.
But a true friend is sitting in jail with you trying to make bail as well.
To spend that much, as well as run up that much debt, he would have had to spend about $10,000 a day.
Earl Campbell had a degree but couldn't read or write when he joined the Houston Oilers. 'Bum' Phillips had to teach him. He has invested his money wisely and has a nice business to show for it.
One size fits all laws that specify results do not work in a society of individuals.
Like Justin Beaver dropping 75K at a strip club over the weekend.
A good education might work, like bringing back a classical K-12 education, with Home Economics classes in Jr. High?
And if that doesn't work, life accepts the applications from people like Vince Young every day to demonstrate for the rest what to do and what not to do in order to live life according to the rules the world actually runs on.
Horse, meet water.
Really sad. I hope someone has befriended the young man and is keeping a suicide watch. He needs serious help.
Bum took Earl under his wing. That was a formula for success. Certainly Earl was the most powerful running back I’ve seen. He ripped OU a new one.
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