Randy Brown Auctioning Off Championship Rings

[dougthonus]

dunkside.com wrote:

If someone accidentally finds a pirate's treasure chest and in 2 years blows the money away, who's to blame ? The pirates ?

It's easy to blame "the system" but the truth is that even more than 60% of people are just dumb. That should be true for athletes as well, so it's no wonder 60% end up broke.

60% of normal people don't file for bankruptcy. It's 1%. 60% of the people coming from the same backgrounds as these athletes people don't need to file for bankruptcy. People who get all of this money would have likely never filed for bankruptcy had they not gotten it.

Nobody is setting them up to fail. They do such a great job by themselves.

I don't think "the man" is setting them up to fail or anything. I just think the process of coming into a ton of money that you didn't earn and build up slowly over time through business sense, but got nearly instantly puts most people in a position where they are likely to be screwed.

That position is intensified when everyone around them knows how much money the came into and starts begging for favors.

It's true sometimes it's not just stupidity - sometimes it's mixed with greed. I'm pretty sure there are some who think about investing but get greedy and when they're offered an "investment scheme" that is too good to be true, they let greed take over and end up losing their money.

If they used their common sense, they'd just put some of the money they make (at least 50%) into banks. That's what Swiss banks are for. And instead of putting all of them in one bank, spread them amongst 10, maybe 20 banks, so even if one goes bankrupt and you lose some of the money, you won't lose them all (btw, in europe deposits of up to 50k euros are guaranteed by the state). It's true that banks don't offer great returns but they're safe.

Again, it's just a matter of using common sense.

I think your argument really shows little understanding for how they lose the money. While poor investment is a component, it's probably a pretty small one as to why they lose the money. Especially when arguing that they should spread it out over 20 banks. I doubt there are any athletes that are broke because their bank went under and they lost all their money.

Again, they have all the power in the world to make good decisions. They don't need to spend 10s of millions on houses and millions on cars and support everyone they know. They don't need to sleep around and impregnate a bunch of women to end up owing millions in child support. I just think it's more difficult to break out of that box when no one else around you is doing it.

 

[Newskoolbulls]

ring ring ring

MJ: Hello

Randy: Hey Mike its me Randy

MJ: who?

Randy: its me Randy your boy from Chicago

MJ: Doesnt ring a bell

Randy: I won 3 rings with you, i was a 7th 8th man off the bench

MJ: well geez I dont remember any Randys

Randy: I jumped on top of you when we won the 96 title, i was wearing #0

MJ: Is this John Salley?

Randy: NO RANDY BROWN

MJ: well i dont know any Randys but why are you calling me?

Randy: there going to take my rings

MJ: click.

Randy: damn I wonder if Keith Booth still is an assitant at Maryland maybe he can give me a little loan.