Comments on: Mark Brunell: "I got in over my head, debt was insurmountable"

By: runtheball

runtheball — Fri, 03 Sep 2010 13:43:46 +0000

People don’t really understand bankruptcy. He likely has lawsuits of his own against his partners for contribution to the defaults. If they have any money or assets he may be able to recover some of what he owes from them. In the meantime bankruptcy keeps him in his house and keeps things from getting worse.

By: mij420

mij420 — Fri, 03 Sep 2010 02:42:54 +0000

hey dumbasses:
why dont you do some research on your own website:
http://profootballtalk.nbcsports.com/2010/06/15/mark-brunell-deals-with-multiple-loan-defaults/
Mark Brunell co-signed on loans for some old Jaguar buddies. It sounds like they ran out on their obligation and now he’s left with the consequences.
But every other dumbass on this site just wants to criticize him. Dumbasses. Mark Brunell really is a nice guy but I guess that doesn’t matter. Any chance to tear someone down with only half the facts, right?

By: DcNinerFan

DcNinerFan — Thu, 02 Sep 2010 21:37:08 +0000

SpartaChris – Couldn’t have put it better. Isn’t it cute when Olbermaniacs and their ObaMao mancrush, Mathews leg tingle try to sound intelligent? You just want to give them a noogie and tell them to slope off to their hippie communes… Get outta here ya little rascal! What a joker…

By: JPL9

JPL9 — Thu, 02 Sep 2010 19:11:13 +0000

Ha.. I hope that the arm chair economists aren’t selling their advice. Maybe Brunell listened to Greenspan and Paulson.
Brunell made poor decisions and now he needs to figure out how to live within his means

By: SpartaChris

SpartaChris — Thu, 02 Sep 2010 18:39:25 +0000

pkrlvr says:
September 2, 2010 4:50 PM
DCniners fan, you’re an idiot. This entire crisis started when the idiot Bush signed the commodities futures and modernization act, which stripped away all the the regulations put in place by Clinton to make sure that things exactly like this didn’t happen. To blame it on the democrats is completely ignorant. Clinton left the country with a budget surplus and the best economy in history and GWB left us with a crumbling housing market, 10% unemployment and a national debt of 11+ trillion. At least the richest of the rich got their 1 trillion dollar tax cuts right!? Republicans have no problem giving money to the military or the rich, but I’ll be damned if they’ll give it to the poor!
Obama hasn’t saved us, but he sure hasn’t caused ANY of the trouble we’re in you ignorant tool.
================================
Leave it to a left wing libtrard to lie and still try to blame Bush for the world’s problems. Funny how you have the stones to call someone else ignorant when your facts are wrong, though that’s pretty typical of our friends on the left.
First, idiot, the Commodities Futures and Modernization Act was signed into law by CLINTON in Dec. 2000: http://www.wisegeek.com/what-is-the-commodity-futures-modernization-act.htm.
Next, the CFMA has nothing to do with the market collapsing. It’s purpose was to classify each type of stock and then figure out which government agency had oversight of that stock.
Additionally, you should read up on the Glass-Steagall act, which was repealed by Clinton. The repeal of this law has been largely credited towards being the root cause of the financial melt down.
Finally, look up a guy named Franklin Raines, former Budget Director for President Clinton. He became CEO of Fannie Mae in 1999, which is when, coincidentally enough, the lending standards for the purchase of homes were lowered.
One final note- In 2003, President Bush asked congress to pass a law that would have granted more government oversight over Fannie Mae and Freddie Mac. The law was blocked by Democrats, led by none other than Barney Frank who was quoted as saying, “What problem, there’s no problem here.”
Sorry to rain on your Keith Olbermann driven “progressive” agenda, but Republicans didn’t cause the financial meltdown, though they didn’t exactly prevent it either.

By: i'm just a bill, yeah i'm only a bill

i'm just a bill, yeah i'm only a bill — Thu, 02 Sep 2010 17:15:13 +0000

he could always get a job doing commercials for Money Mutual along with Montell Williams?

By: i'm just a bill, yeah i'm only a bill

i'm just a bill, yeah i'm only a bill — Thu, 02 Sep 2010 17:13:35 +0000

apparently he had Rocky Balboa’s accountant running his affairs.

By: pkrlvr

pkrlvr — Thu, 02 Sep 2010 16:50:35 +0000

DCniners fan, you’re an idiot. This entire crisis started when the idiot Bush signed the commodities futures and modernization act, which stripped away all the the regulations put in place by Clinton to make sure that things exactly like this didn’t happen. To blame it on the democrats is completely ignorant. Clinton left the country with a budget surplus and the best economy in history and GWB left us with a crumbling housing market, 10% unemployment and a national debt of 11+ trillion. At least the richest of the rich got their 1 trillion dollar tax cuts right!? Republicans have no problem giving money to the military or the rich, but I’ll be damned if they’ll give it to the poor!
Obama hasn’t saved us, but he sure hasn’t caused ANY of the trouble we’re in you ignorant tool.

By: Shark839

Shark839 — Thu, 02 Sep 2010 16:36:29 +0000

Matt S. says:
September 2, 2010 1:33 PM
“dumbocrats”
Of course we have to throw political name-calling into this. Someone’s still upset they lost the elections.
__________________________________
That will change in 2 months!
Back to Mark, keep in mind 52 million was before agent fees, and taxes. Mark is a good guy over all. As someone else pointed out it not like he was spending it on bling bling, chid support from his 10 children spread out accross many NFL cities, rims, ect.
He like many got caught up the worst economy this country has seen in 70 years, with no real end in sight.
Keep your head up Mark you will make it back. It just might take 10 years.

By: superb owl

superb owl — Thu, 02 Sep 2010 16:33:02 +0000

i still get a kick out of the “lenny dykstra, investor” saga…
//////////////////////
about the creature, certainly education helps. but one better fear and do something about it cause that creature devours yer wealth and the value of the dollar constantly.
establishment politicians wont do jack about it, btw.

By: researchALLwars

researchALLwars — Thu, 02 Sep 2010 15:42:26 +0000

hey ‘everybodygotAIDS’ thanks for copying and pasting the entire article AND the comments above mine just so you could NOT post the part about the book i told you all to check out.
What are the Mods being paid for here?
“The Creature From Jekyll Island” by Edward Griffin.
Are you afraid of the creature? Fear is born of ignorance. Maybe you should stop ignoring!

By: TJ Whippets

TJ Whippets — Thu, 02 Sep 2010 15:26:21 +0000

Didn’t he waste his money on a Church or something meaningless like that? I feel bad for him…

By: sjfootball32

sjfootball32 — Thu, 02 Sep 2010 15:13:59 +0000

I don’t believe his take home pay was 52 million, unless his name is Wesley Snipes.

By: Wrathchild

Wrathchild — Thu, 02 Sep 2010 15:09:59 +0000

“Has Brunell tried praying for the money yet?”
He’s asking Tebow to do that for him.

By: DcNinerFan

DcNinerFan — Thu, 02 Sep 2010 15:05:37 +0000

Matt S. – Not as sore as you should feel for voting in the worst White House and Congress ever. Gonna take us 20 years to recover from just 2 years of ObaMao spending…

By: TheSleepness

TheSleepness — Thu, 02 Sep 2010 14:46:09 +0000

repbublicans, demorcats, wake up..both are put there to distract you from the truth son

By: midwest85

midwest85 — Thu, 02 Sep 2010 14:45:43 +0000

Good Point XLI. It amazes me how they can blow that much money. When I read about Brunell and others like Nicholas Cage and all the other athletes and stars I laugh my ass off. People who are money smart LIVE within there MEANS, regardless if your a multi millionaire or just a average middle class joe.

By: Dooly

Dooly — Thu, 02 Sep 2010 14:35:02 +0000

Wow! All of a suden everyone is the next Warren Buffett on here. The guy bet on the real estate market as a developer. He had partners in the investment and was left servicing the loans when things when belly up. It became too much to bear hence the Chapter 11 filing.
Does he deserve my compassion? No. He took a financial risk and lost like many other investors around the country. However, it’s not like the guy was running around in his Mr. T starter kit and got robbed and is claiming it’s worth $19 M. He like many investors played the leverage game and lost. Besides, it’s easy to manage $52M (before taxes) when you’re speaking hyperthetically.

By: LunarPie

LunarPie — Thu, 02 Sep 2010 14:24:44 +0000

To hotchick:
Whatever!
If have $52 Mil and you lose it, you either made alot of dumb decisions or you are simply a retart. Us middle class know how to not lose all of our money. Believe me, if I had $52 mil I would MAKE SURE that I didn’t get into anything that could make me go bankrupt. Stop sticking up for the stupid-once-super-rich-mediocre-never-did-anything-quarterback!

By: XLI

XLI — Thu, 02 Sep 2010 14:16:24 +0000

These people are financial fools…
Even in a moderate investment you can stick $10 Million in the bank @ 5% and yield $500,000 dollars a year in interest (even though with that kind of $$$ you should be able to get at least 7-10%+).
Buy your house outright, a few cars, and then set up an Interest-Based revenue stream to live off of. You have your principal intact and a solid income flowing in for the rest of your life.
You have to try really hard to blow through money like that.
Either too many concussions or stupidity… or both.

By: 8man

8man — Thu, 02 Sep 2010 14:15:31 +0000

“Brunell filed for Chapter 11 reorganization on June 25, listing assets of $5.5 million and liabilities of $24.7 million.”
Uh, that is about a $19.2 million gap there. Unless the values of whatever his concern holds increase dramatically, or he gets a huge contract, the people owed are getting only pennies on the dollar, if anything And anyone starting pursuit now is screwed.
There is a story here of greed, stupidity, deception and despair. But no compassion from me.

By: superb owl

superb owl — Thu, 02 Sep 2010 14:06:23 +0000

yes, research, and also see beck’s “the inconvenient debt” video. lending policy, demonetization etc all go hand in hand.
it is disappointing but not surprising, the lack of critical thinking (skills) in evidence. the public education system is certainly working as it was intended to.

By: KoaMisiFan

KoaMisiFan — Thu, 02 Sep 2010 13:54:29 +0000

cunninglinguist says:
September 2, 2010 12:34 PM
He should change his name to Goldman Sachs, he would be eligible for a bail out
Where’s Bernanke when you need him
———————————————-
You’re so funny. Do you do standup comedy as well?

By: KoaMisiFan

KoaMisiFan — Thu, 02 Sep 2010 13:53:30 +0000

Will he and Ryan have a cry-fest?
He didn’t have to pay State taxes for most of his NFL career living in Florida so he lost more than face value. What happened to his Whattaburger franchise? Did that go belly up also?

By: Actlikea2yrold

Actlikea2yrold — Thu, 02 Sep 2010 13:51:50 +0000

Got it, real estate loss is the new code phrase for hookers and blow. someone notify Lawrence Taylor of this change.

By: shaqter

shaqter — Thu, 02 Sep 2010 13:51:13 +0000

Should all of us that won’t make $1.5 mil this year start crying?
Can’t feel sorry for him. Sometimes I feel a little sorry for felted people that are asking for money on the street but I never give them any money…instead, I beat them to the punch by asking them for money first…that always throws them off.

By: petro

petro — Thu, 02 Sep 2010 13:46:22 +0000

He never struck me as being a bright guy. Comes down to this. Personal accountability. Take accountability for your actions. That is why I feel no pity for him and hope he gets what’s coming to him. Can’t believe the Jets signed him cause he’s washed up and can’t even backup adequately anymore.

By: Matt S.

Matt S. — Thu, 02 Sep 2010 13:33:37 +0000

“dumbocrats”
Of course we have to throw political name-calling into this. Someone’s still upset they lost the elections.

By: smiley

smiley — Thu, 02 Sep 2010 13:28:56 +0000

Wow….$52M!! The problem is he’s at the tail-end of a $52M career.
Hotchick – it’s called a balanced portfolio. You have to make some MAJOR mistakes to bankrupt after $52M.

By: cheapargentina

cheapargentina — Thu, 02 Sep 2010 13:22:19 +0000

@texasPHINSfan
im irresponsible on payday cant imagine if pay day was a couple mil