Jose Canseco files chapter 7

[Mr.Coffee]

Originally Posted by nik-

Umm, yes. I'm not saying I'm all bummed out, but it sucks when someone loses it all, regardless of how much they had or how they got it. What I don't get is that every time news like this comes out it's the same "well how could that happen? That would never happen to me" statements come out. This happens all the time and every time people are just dumbfounded.

It's not like I'm saying anything new or controversial, this is the same story almost every time.

Yes there is a reason these statements come out. Because it is shockingly disgusting and the height of belligerent fiscal mismanagement.

It is likely rooted in some kind of addiction, but we don't seem to give bums the same kind of credence do we?

Maybe there is a difference there... opportunity? Gross negligence? Incomprehensible gluttony?

Lots of things happen where similar shocking statements arise from the masses, they are usually warranted.

Some ####### shot 70 people in Colorado last weekend, people are dumbfounded. That's why it's news. Most bankruptcy's aren't. Why?

Because it is such an enormous amount of money, it's inexcusable to lose it all.

Not good with money? Hire someone. They screwing you over? Fire and hire someone new. Even 18 year olds get this. Even 4 year olds get this.

edit: this is actually insane I took the time to respond to something so ridiculous. I need to get a life. F me.

[TurnedTheCorner]

4 year olds generally don't understand the concept of savings, investing, and bankruptcy, I'd wager.

[Mr.Coffee]

Originally Posted by TurnedTheCorner

4 year olds generally don't understand the concept of savings, investing, and bankruptcy, I'd wager.

well then they should hire somebody who does.

[nik-]

Meh, be that way then. To me this is just another aspect of tearing down stars, a way for people to feel good about themselves. Not sure how the shootings in Colorado or reaction to that is relevant in any way. As for the reasons, all of the above. Again, I didn't say he was blameless.

The funny thing is that the most ridiculous post in the thread is that hyperbolic tirade you just laid out.

[Mr.Coffee]

Originally Posted by nik-

Meh, be that way then. To me this is just another aspect of tearing down stars, a way for people to feel good about themselves. Not sure how the shootings in Colorado or reaction to that is relevant in any way. As for the reasons, all of the above. Again, I didn't say he was blameless.

The funny thing is that the most ridiculous post in the thread is that hyperbolic tirade you just laid out.

Um, I don't feel any better or worse for writing that.

I am pointing out how ridiculous it is to blow $26mm, and you are playing devils advocate for a reason which isn't totally clear.

Sometimes ridiculous things are just that, ridiculous. Because I make a hyperbolic tirade, doesn't mean I'm wrong.

Saying "I feel bad for millionaire losers who go bankrupt because they're irresponsible with money" is, in of course my humble little opinion, wrongly placed sympathy.

[nik-]

Sympathy isn't finite.

[Mr.Coffee]

Originally Posted by nik-

Umm, yes. I'm not saying I'm all bummed out, but it sucks when someone loses it all, regardless of how much they had or how they got it. What I don't get is that every time news like this comes out it's the same "well how could that happen? That would never happen to me" statements come out. This happens all the time and every time people are just dumbfounded.

It's not like I'm saying anything new or controversial, it's not a debate, this is the same story almost every time.

oh and the relation to the Colorado comment was to the bolded line above. Shocking news stories happen, reactions are predictable. Just because they're predictable doesn't make them wrong, nor does it require the waterfall of devils advocates who argue for the sake of arguing when at heart they actually agree with the original shocked sentiment of the masses.

I work with people like you, that argue for the sake of it. When it's such a ridiculous position, it looks ridiculous on you.

[Mr.Coffee]

Originally Posted by nik-

Sympathy isn't finite.

Ok, well you feel bad for him then.

But there must be an insane amount of people you have sympathy for if your net is that widely cast. In fact it should just about cover 100% of Earth's population.

[nik-]

My sympathy net is infinite.

[Mr.Coffee]

Originally Posted by nik-

My sympathy net is infinite.

are you Confucius?

[nik-]

Buddha

[Mr.Coffee]

Well, works for me.

[drewboy12]

am I the only one who see's these stories fantastic for the bad economy? Guy made millions in his career, retired. Did not save it, spent it all fast... lol

[mykalberta]

I am very surprised at his total assets.

He also wrote a fantastic book, its one of the best reads about juicing anywhere. He had to make at least a mil off that book.

[HPLovecraft]

If he put just one million of that in a bank account (with say 4% interest), he'd make close to the average salary of most Canadians each year, while doing absolutely nothing.

Damn foo'.

[Derek Sutton]

Originally Posted by drewboy12

am I the only one who see's these stories fantastic for the bad economy? Guy made millions in his career, retired. Did not save it, spent it all fast... lol

He isn't retitred though just last springI saw him playing in Calgary and he had signed earlier this year to play in another Independent League.

I recently read that his phone is still ringing off the hook for spaeking engagements and endorsements. He was also renting a house in Vegas, and likelly renting all the stuff inside the house (RAC). So it's no whonder hi assests are 20k or whatever.

[OldDutch]

He was divorced at least once too if I recall. I wonder how much that cost him.

52 mill becomes 26 after agent fees, and then cut that again by half in a divorce and your at 13 mill.

I would hold off bashing the guy until you know the whole story. I'm not excusing his behavior but there maybe more to it than the whole junky moron angle.

I have friends who have started companies with ex-middling NHL players. These guys get out of sports and want to continue the winning in business. Except business is way more risky, and you lose your money 9/10. For every Jim Peplinski there are thousands of Darren McCartys.

So my point is, before you write these guys off as total idiots, at least try and find out how they lost it. You might be surprised that Canseco didn't lose $52 mill on hookers and blow alone.

[I_H8_Crawford]

Considering the average Canadian owes more $ than they make, how is this any different, other than it has happened on a larger scale?

Instead of carrying $20K Credit card debt on a 40K salary, this guy was carrying $20M on a $50M salary - still the same thing just more zeros at the end, IMO.

[albertGQ]

Originally Posted by OldDutch

He was divorced at least once too if I recall. I wonder how much that cost him.

52 mill becomes 26 after agent fees, and then cut that again by half in a divorce and your at 13 mill.

I would hold off bashing the guy until you know the whole story. I'm not excusing his behavior but there maybe more to it than the whole junky moron angle.

I have friends who have started companies with ex-middling NHL players. These guys get out of sports and want to continue the winning in business. Except business is way more risky, and you lose your money 9/10. For every Jim Peplinski there are thousands of Darren McCartys.

So my point is, before you write these guys off as total idiots, at least try and find out how they lost it. You might be surprised that Canseco didn't lose $52 mill on hookers and blow alone.

Shouldn't it have read, For every Jim Peplinski there is nine Darren McCarty's? That's according to your 9/10 statistic

[sketchyt]

Pretty good read on broke athletes on SI: http://sportsillustrated.cnn.com/vau...ne/MAG1153364/

From the article:

• By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

• Within five years of retirement, an estimated 60% of former NBA players are broke.

Very interesting stuff (i.e. whatever happened to Rocket Ismail?) but still fails to get sympathy out of me. I feel like planning your finances in a very basic way - like, having a little bit when you need it - should be as simple as planning on when you take a dump.

Seems like these athletes never learned when to take a dump, walk around with a load then throw up their hands. Which baffles me.