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« Tuesday « December 9, 2008
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Records show how Vick burned through fortune
(Atlanta Journal Constitution)
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The day he went to jail, Michael Vick bought a $99,000 Mercedes...From Aug. 27, 2007, the day he pleaded guilty in a Richmond federal courthouse, until Nov. 19, the day he bought the new Mercedes before reporting to jail, Vick shelled out $3,627,291.Reading through this list is a stunning display of extravagance and sheer, brutal ignorance. True, Vick came from a poor upbringing, so maybe the concept of financial planning was lost on him, but you have to look for good advisers, after all, you can pay for that kind of guidance and still keep your fortune. Instead, he took wealth that should have set up himself--and his whole family--for generations and apparently tried to spend it all right away. That's what sucks about going from poor to nouveau riche: the minute you get some money in your hands, all you can think to do is spend it. This is a tragic story in its financial aspect.
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