I suppose I should feel sorry for this guy who was "rich", but Gees did this guy not listen to the nightly news.... Some surfing (internet), and paying attention to the signs, he could have been wiser with his money..... Instead of taking trips to the Waldorf, he should have been a whole lot more frugal, after all 14 million ain't that much today.
Makes me mad that people like this thought that things were going to go on forever. Man is always going to reach until it is to far.... These people would have probably ended up broke even in good times.... He would have been better off putting the money in trust and taking a payout every month or week or something.... Like 5% would have still been 700 thousand a year. Not a bad living by anyones measure. At that kind of income I could have still had his car, house, and done many of the things I ever dreamed of. Just done it a little slower. He could have even left a bunch to his kids.
Old man used to yell at me about having to learn everything the hard way but it looks like I learned my lessons on handling money long before I ever left home. It is really late in life for many; especially the older ones too learn, and likely they won't recover.