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May 2, 2008
Home Mortgage Crisis Claim High-Profile Victim
Posted by Dave Blount at May 2, 2008 9:18 AM
The home mortgage crisis has claimed another victim: motor-mouthed former baseball player Jose Canseco, who deliberately walked away from his $2.5 million mansion because he didn't feel like paying for it. Explains Canseco:
I do have a judgment on my home and it to me is very strange because it didn't make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else.
Some might think that because Canseco was paid $millions upon $millions to play baseball, he could afford to pay his bills. Not true:
You know my life, this financial thing, is a very complicated issue. Obviously, when you make all that money, people think, "OK, let's assume it is $35 million." People have to understand that $35 million, you're paying the government 41 percent. That leaves you with about $17 or $18 million, not even. Then you're taking care of your whole family.
Speaking of family, he says a couple of divorces have cost him $7 or $8 million.
Let's bring in the federal government, so that those of us who pay our own way can bail out poor Jose and others who don't like it when the bills come due.
True he's a zillionaire — but steroids aren't cheap.
Hat tip: Michelle Malkin; on a tip from Wiggins.
