Just Labradors banner

1 - 20 of 37 Posts

·
Registered
Joined
·
44,122 Posts
Discussion Starter #1
I was watching this on GMA this morning with my jaw to the floor. They haven't paid their mortgage in 2 years and have over $100,000 in credit card debt alone. I couldn't help feeling sorry for the guy while watching this. Why can't his wife get a job to help out?!

http://abcnews.go.com/Business/Story?id=7111098&page=1
 

·
Registered
Joined
·
53 Posts
It's hard to believe that someone who should be pretty smart, would have not safely saved something. Like at least make sure you had enough set aside to protect your house
 

·
Registered
Joined
·
5,211 Posts
I do not know- I see a lot of a little red flags about where they went wrong. But I'm sure it is easy to see looking from the outside.

But really- why does a family of four need a 4000 sq ft house?? A lot of what I see in this article is greed.
 

·
Registered
Joined
·
44,122 Posts
Discussion Starter #4
Oh no doubt, Aim. I agree with you 100%. They had savings as well as a 401K and they blew through it all.
 

·
Registered
Joined
·
13,130 Posts
How about selling the Jet Ski? Why can't the kids go to public school? She needs to get a job doing something. It's terrible what has happened to them but she needs to get a job. Does she think she is too good for it?
 

·
Registered
Joined
·
44,122 Posts
Discussion Starter #6
She needs to get a job doing something. It's terrible what has happened to them but she needs to get a job. Does she think she is too good for it?
That's the feeling I got while watching it this morning. She sat there all snooty and bitter-looking with her bleached hair. Oh, and she claimed her kids have to go to private school because it's the only school they've known. :rolleyes: :rolleyes:
 

·
Registered
Joined
·
53 Posts
When I was a kid my family moved quite a bit. Looking back I think it taught me to make friends easily, and to get along with most anyone. No reason that I can see as to why those kids can't change schools
 

·
Registered
Joined
·
1,474 Posts
Yeah...I don't really feel sorry for him. I feel like he's doing what he can now, but I think maybe he should have seen the writing on the wall a little sooner. Maybe not, though, I wasn't there at the time.

I get really frustrated when I see people making big financial messes of their lives that their kids are eventually going to have to pay for. There's no way that couple will be able to make enough/save enough for retirement now. So their children are going to have to support them.
 

·
Registered
Joined
·
10,307 Posts
At least this guy is trying to do anything he can to survive and not asking the government to support him. Smart guy, but not so smart at the same time. Didn't see the flaw in what was happening and the unavoidable collapse. Not someone that I would want to have my money with. This guy will probably survive. May never get back to where he was, but he will survive.
 

·
Registered
Joined
·
1,483 Posts
But he quit his job to start a hedge fund! Not the easiest thing in the world, he should have been better prepared financially. She should get over being embarrassed and pitch in. The kids will survive a school change, many others have.
 

·
Registered
Joined
·
5,915 Posts
it sounds like he and his family would have been just fine had he not started his own hedge fund business. even if he had lost his $750,000 a year job, he would have had enough in savings to get through the bad times, but he lost it all in his efforts to make more money, and it didn't help that he used to purchase things without looking at the price tags.
 

·
Registered
Joined
·
10,257 Posts
Stephanie Karpman said she didn't want her husband to leave his trader job in the first place and wishes he would have put more in savings.

DUH!! Why didn't *she* take some responsibility and shuttle some of that amazing salary away??
 

·
Registered
Joined
·
44,122 Posts
Discussion Starter #15
Exactly!!!!
 

·
Registered
Joined
·
44,122 Posts
Discussion Starter #17
I don't know if it says that in the article, Kim, but the guy doing the interview with them said it during the report.
 

·
Registered
Joined
·
3,514 Posts
here is how i see it. these are hard times. this guy made a bad business decision and he is paying for it dearly. as is his family. he blames himself.
so what, they live in a 4000 sq ft home...most people I know live in a 3000-4000 sq ft home. they must think we are nuts to live in a 1000 sq ft home with six dogs!!
sure they owe on a mortgage they cannot pay...but can they sell?? In this market. I've seen homes/condos in my area become so price reduced it is shocking and they are STILL not selling...why?? Who the hell can afford to buy in this market right now.
Did this guy dig his own hole? Yes. I don't get the impression he is looking for pity. If any thing it shows a man not afraid to get off his ass and do a job most hoity toity rich ass bastards look down upon! I know. I've been in retail sale and service nearly all my life and I have been treated like i am the scum of the earth here to serve THEM. But I do my job and do it with a smile. More people should take this guys story to heart because it could be them some day. He is staying optimistic and that is not easy to do in these times or in his situation.
But I guess I see these things differently.
 

·
Registered
Joined
·
44,122 Posts
Discussion Starter #19
No no no, Kim, you don't see things differently. That was exactly the point of spotlighting them on GMA. To show what can happen in these times, and the fact that the guy wasn't too proud to get a job delivering pizza.

****, now I want pizza.
 

·
Registered
Joined
·
1,273 Posts
Probably did the piece hoping someone will feel sorry for them and offer him a job. They seem not to be willing to part with material things, things that would sell, i.e., clothes, jet skies, etc.
 
1 - 20 of 37 Posts
Top