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Lottery winner goes from rags to riches to rags
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Topic locked. Last post more than one year ago by . 62 comments.
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Sunny SW Florida United States Member #25708 November 5, 2005 4193 Posts Offline
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| Posted: August 23, 2007, 1:33 am - IP Logged |
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Everyone is writing that this is a sad story. Maybe a better word is "tragic," but I don't have any pity for someone who had a chance to turn his life around and chose a dark path to travel. The only victims here are the children. Many people who had a rough start in life would have looked at his incredible twist of fate as a miracle, a gift from a higher power to get a second chance. He made very bad choices and, even when he still had a chance to pick up and start all over again, he continued to dig his own grave. There were many people whose lives were turned upside down by 9/11, Katrina and other disasters who did something positive without millions of dollars. Sorry if I sound cold, but there are too many families here losing their homes for me to cry for Edwards.
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NY United States Member #24178 October 16, 2005 1471 Posts Offline
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| Posted: August 23, 2007, 1:33 am - IP Logged |
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did something happen to Cash Only?? He hasn't posted for perhaps a year or so. My guess is that a lottery winner decided to take the annuity and he had a stroke.
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Austin United States Member #9550 December 6, 2004 62 Posts Offline
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| Posted: August 23, 2007, 2:07 am - IP Logged |
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Good one Floyd!
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United States Member #8005 October 15, 2004 11201 Posts Offline
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| Posted: August 23, 2007, 2:46 am - IP Logged |
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how about some stories on those who are doing good with their winnings? i want to hear stories about people who are gaining 100,000 dollars of interest a month and they drive nice cars and go to bed early and eat their vitamins and say their prayers.someone who gives back to the copmmunity,that don't do drugs or beat strange women at 3am........
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United States Member #24723 October 21, 2005 597 Posts Offline
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| Posted: August 23, 2007, 3:17 am - IP Logged |
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Everyone is writing that this is a sad story. Maybe a better word is "tragic," but I don't have any pity for someone who had a chance to turn his life around and chose a dark path to travel. The only victims here are the children. Many people who had a rough start in life would have looked at his incredible twist of fate as a miracle, a gift from a higher power to get a second chance. He made very bad choices and, even when he still had a chance to pick up and start all over again, he continued to dig his own grave. There were many people whose lives were turned upside down by 9/11, Katrina and other disasters who did something positive without millions of dollars. Sorry if I sound cold, but there are too many families here losing their homes for me to cry for Edwards. Amen! Say it again and again! 
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Fairbanks, Alaska United States Member #23813 October 13, 2005 89 Posts Offline
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| Posted: August 23, 2007, 3:21 am - IP Logged |
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I'm still thinking about the $200,000 and the trip to Vegas. OK, he wins the Powerball, the OP said his share was $27,000,000. So in that respect at the time the $200,000 loan is chump change. He's going to retire the loan as soon as he gets his lottery check and not keep paying interest. But as the story goes on he gets sued by the homeowners association for several thousand. So at first that $200,000 was peanuts but how bad do you think he's like to have that $200,000 now? Just my $.02 here - there's something else very, very disturbing about this story- and that is many, many people here have posted in threads about, "What would you do if you won....." and described a very similar course of action that this guy took. "I'd go to Vegas" "I'd buy a really hot Italian sports car or two" "I'd buy a yacht" etc...etc.... If there was ever a solid case for proving the need for reamining anonymous and for choosing to remain anonymousy, this is it. Coin Toss you made stated some valid points here! Until you actually win the lottery or come into a large amount of money no one really knows what they would do. Oh we would all do the obvious (pay bills, buy a new home, new cars, invest etc, etc.....) But what about the rest of your life. How would you deal with the constant harrasment from strangers asking for money. That is why you should definetly remain anoymous if at all possible. To me winning the lottery could be a blessing or a curse! I don't feel the least bit sorry for Mr. Edwards though, We all have to live with the decisions we make. (HE HAD THE OPPORTUNITY OF A LIFETIME AND HE BLEW IT!!!!!) 
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PA United States Member #23322 October 6, 2005 1786 Posts Offline
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| Posted: August 23, 2007, 7:10 am - IP Logged |
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how about some stories on those who are doing good with their winnings? i want to hear stories about people who are gaining 100,000 dollars of interest a month and they drive nice cars and go to bed early and eat their vitamins and say their prayers.someone who gives back to the copmmunity,that don't do drugs or beat strange women at 3am........ Umm no one wants to hear that. The media and the public in general want to hear about failure, hardship, and controversy among other things. They want to hear the most extreme negatives in isolated situations like this one, as it affirms their own unhappiness; being misery loves company. I followed David's storyline form the beginning, and I knew he was destined for ultimate failure. I wouldn't even spend $3 million my whole life let alone in months. This is just another example of someone being ill-prepared and careless with a fortune that should have easily lasted many lifetimes. However your past can always come back to haunt you...as it did here. No one wants to here how good the West family is currently doing with their $300 million.
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United States Member #54866 August 17, 2007 125 Posts Offline
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| Posted: August 23, 2007, 8:16 am - IP Logged |
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...James Gibbs, a 31-year-old Morgan Stanley broker, as his financial adviser. The first thing Gibbs did was arrange a $200,000 loan so David could celebrate in Las Vegas while awaiting the Powerball payment... I wonder how many people would want this guy as their "financial advisor" if they knew how freely he was willing to discuss his clients' dealings. I like the advisor ; he was just not able to over-ride his boss a junkie and a real bum because , " money don't make you smart or better ". The bigger you are the harder you fall ; He made this bed for himself, says his ex-wife, Gail Blanton. She says she hopes he recovers, and that she wishes he had set aside some of the money for Tiffani, now 17. "If he followed my advice," says James Gibbs, his former financial adviser, "he'd be pulling in about $85,000 a month for the rest of his life." Gibbs says he put about $16 million of David's winnings in bonds and annuities, to protect David from himself. David cashed them out.
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United States Member #54866 August 17, 2007 125 Posts Offline
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| Posted: August 23, 2007, 8:32 am - IP Logged |
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Umm no one wants to hear that. The media and the public in general want to hear about failure, hardship, and controversy among other things. They want to hear the most extreme negatives in isolated situations like this one, as it affirms their own unhappiness; being misery loves company. I followed David's storyline form the beginning, and I knew he was destined for ultimate failure. I wouldn't even spend $3 million my whole life let alone in months. This is just another example of someone being ill-prepared and careless with a fortune that should have easily lasted many lifetimes. However your past can always come back to haunt you...as it did here. No one wants to here how good the West family is currently doing with their $300 million. you make a good point ......just yesterday I thought about what I wuld do if I won the jackpot and how much I would give to my son and daughter : it came to $10,000 .00 ea. because I knew my son would blow it in 90 days or less; but in one day I could blow a $100.000 just giving ten thou to 10- family members and no one would be happy with such a small amount ; There are concerns I have with so much money and what people would do to get it and what they do with it , could ruin their lives or make it better !!!!!
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United States Member #54866 August 17, 2007 125 Posts Offline
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| Posted: August 23, 2007, 9:50 am - IP Logged |
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