Foreclosure for Plaxico

by Kirk Kinder on February 22, 2010

When I first read this story, I thought I could put together the typical article about how professional athletes must manage their money assuming their career is doomed to be short lived. This way they won’t face bankruptcy and foreclosure like so many before them. The professional athlete faces so many financial headwinds such as mooching family and friends, financial sharks looking to scam them or mismanage their money, and, the most detrimental, sudden wealth syndrome.

With Plaxico Burress, I actually feel sorry for him. Sure, he could have set aside a couple years worth of mortgage payments considering the large contracts he had previously. However, I feel like they made an example of him. I don’t know if he really got justice. Granted, he should not have carried a gun into the nightclub, but the only one who got hurt was him when he shot himself in the leg. A stiff fine and suspended sentence seems a more appropriate punishment, not two years in jail. He was railroaded by Bloomberg and other politicians who wanted to make a statement. Now, his family is losing their home. Happy now, Mikey? Maybe Bloomberg could cough up a few thousand from his massive net worth to tide Burress’ family over until he gets out of jail.

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