Vick taken advantage of the whole way

A fool and his millions are soon parted.

 

how many dogs did they kill?

 

Look, I dislike Vick as much as anyone, but let's be realistic.

Talbot fooled an apparently respected bankruptcy attorney into allowing him into the case, but Vick is supposed to investigate the guy thoroughly on his own... from Leavenworth?

I don't give a shit about Vick and it doesn't break my heart that he's lost his money, but let's not pretend he wasn't a victim on these counts. He was robbed.

 

that's a shame.

 

Sad, hopefully he turns his life around when he gets out.

 

Don't investigate the guy from Leavenworth. Find someone who can do it for you.

Then again, if Vick was intelligent enough to surround himself with intelligent people, this thread would not exist.

 

yeah, i'm so holding out hope.

 

But he found Jesus during the press conference ...

 

I'm amazed that the players agents don't steer them towards responsible financial managers. A financial advisor in Nebraska? That's who Vick came up with? How about Goldman Sachs, Morgan Stanley, Brown Brothers Harriman etc.?

 

They can screw you out of money, too. Just look at how presumed forever-brown-shoe firms like Bear Stearns have been sucked down the vortex of the mortgage-backed securities market, while Lehman is barely hanging on and most other large companies are in serious trouble. People who are much smarter about money than Michael Vick have been ripped off by firms and advisers with more cachet than he had, or made dumb decisions because they thought they were so smart.

And embezzlement is easy to do in just about any organization that doesn't have a firm set of financial controls and someone to watch over them like a hawk. Some of the most common victims of embezzlement are physicians, who have staff take a few bucks here and there all the time because it's so hard to track the multiple small financial transactions that keep a practice afloat.

I'm not saying Vick is faultless. But it's common story among a lot of athletes (and lottery winners) who go from poverty to riches -- they have no idea how to handle money, and they are easy targets for anyone with a lame-brained idea or sob story. Unfortunately, Vick didn't have the combination of people looking out for him early and the innate smarts of LeBron James, or the protective older brothers of Derrick Rose, or someone close to him to make sure not only that the leeches don't get to them, but that the athletes themselves have a financial plan that makes sure they haven't blown all their money on cars and jewelry before their career ends.

 

The large private banks I mentioned have very good internal controls.

The mortgage mess isn't related to their private banking areas. For anyone making 7 figures to have their money anywhere else is riduculous.