15 Celebrities Who Went Bankrupt

MC Hammer

The flamboyant musician earned $33 million in the early 1990s, but quickly blew all his cash, aided in part by his purchase of two private helicopters.  It’s not easy when you’re in your 20s, have an amazingly successful album and have absolutely no idea what to do with all of your money.  In this particular instance, Hammer had the posses, the homes, cars, and all the other glitz many celebrities have.  The issue is that he spent way more than he should have and got in hot water for it.

Nat is the CEO and Editor in Chief of BC Media Group and all its properties. He loves television, movies, fitness, playing piano, and writing great articles. You can find him on Twitter@Nathanielberman
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  • Darlene Armenta

    You forgot Donald Trump. Although, he denies it.

    • Marcy

      Didn’t Cher Bono file for bankruptcy several years ago?

    • reita Anderson

      Donald Trump did file, I lived in Vegas at the time.

      • AmericanEagle1392

        LOL!

        Donald Trump is a billionaire.

        The Donald has had some of his corporations file bankruptcy for strategic financial reasons when they guessed wrong on a project, but has never filed bankruptcy as an individual.

        Wise up.

        • Tim

          This person is correct. There is business , and personal issues.

          • Quado

            Right — wasting investor’s money is something to be proud of!

            • Quado

              business = other people’s money

        • Quado

          Wise up to what? That wasting other people’s money is OK?

          • Donna

            Jealous much??

            • david handel

              yeah – jealous like gum on my shoe. i really don’t my role model to be some two-bit hack who lives off of investor’s money. fools think he’s making money on real estate, but every project ends in bankruptcy after taking a healthy cut of investor’s money. he’s just a narcissistic *ss. i would rather be broke than be like him. not just that; he’s a stupid person. i’d bet his IQ tips the scale at around 100. you don’t need to be smart to steal money.

        • Quado

          Billionnaire my but$

          Prove it.

        • Quado

          Billionaire my but$

    • AmericanEagle1392

      Of course he denies it because The Donald has never filed for personal bankruptcy. What you are getting confused about are the filings by some of his corporations which failed.

      • FREEDOMJoe

        True THE Donald ad never filed for Chapter 13 every single one of his Business have , The Poster BOI of talk radio has filled 4 times. “Rugged Individualism”

      • david handel

        the Donald has never had a corporation. he puts together real estate limited partnerships using other peoples money which he promptly loses except for his general partner’s fees. he sells snake oil to people to stupid enough to buy his shtick.

    • jim

      Trump has never filed personal bankruptcy. One of his many corporations did. Wise up.

      • Quado

        you mean crooked enough.

      • Quado

        We know… “corporations are people.” Got it. Whatever.

        • Donna

          Bitter much?

          • david handel

            wow Donna. you are one of the sheep he lures in. put your money where your mouth is and pony up for his next limited partnership. when you go bust, email me back. if his IQ teeters around 100, then yours must be lower.

    • joel

      Trump is weasel , He was smart to separate his business from private life , if all these performer had put their income under a corporation they would be able to file for bankruptcy every other year ……. just like Trump .

  • Steve

    I may be wrong, but all the people on this list appear to be Democrats. What’s with Democrats and the need to spend money they don’t have? I think you should put President Obama on this list. After all, he’s bankrupting the country.

    • whycan’twejustloveeverybody

      You just had to bring up politics didn’t you. My god people are contentious. Why does everything ave to end in an argument? Every single thing. smh

      • Bill Conners

        That’s not politics, that’s business. And you have to be a Democrat too since you don’t see to want to talk about the business of managming money. Obama IS burying this country in debt. And the idiots defending the man are reading these comments on computers bought with entitlement checks and food stamps.

        • david handel

          if his business is stealing money, then he’s a great businessman. check your graphs and charts – George W bankrupted this country not Obama. Try to give me one single example of Obama policy bankrupting our country. you can’t because it doesn’t exist. you just fall hook, line and sinker for Rush Limbaugh and company. oh yeah, those entitlements and food stamps bought me one helluva sleek computer. oops, wait, since i spent my $10,000 per year (which i assume you can do) i have to find a way to eat. guess i can nibble on my hard drive.

    • Lucii

      The country was bankrupt when the presidency was still a dream for President Obama. (you idiot!)

      • Mike

        Now children (Lucii) no name calling, please.

      • Dave

        Bankrupt? What country were you living in? Go back to it . Idiota.

      • Cecille

        Dear Lucii,

        Thank you for answering the genius. I take it you are awake to what is actually going on….beyond what the stupid box (TV) tell people which they swallow hook, line and sinker.

      • AmericanEagle1392

        The clueless and incompetent President Obama, who is clearly an affirmative action president, has never worked in the private sector or even run a lemonade stand, took a crisis created by Democrats – read the book Reckless Endangerment to see how they did that – and turned it into a catastrophe in his first two years when he had the full support of both houses of Congress. The horrified country gave the House to the Republicans in 2010 to stop the madness and we have thankfully had gridlock ever since, preventing him and his Chicago thugs from causing any more major damage. The economy is going to hobble along until Obama is booted – or impeached for the scandals that are sprouting like weeds – and we get a real president who understands how our exceptional economy works.

        In Obama’s 5th. Year we have 90 million Americans unemployed, millions have given up even looking for work, 50 million on food stamps, 11 million claiming to be disabled and $16.5 trillion in national debt that will be like a millstone around the necks of our kids and grand-kids.

        • Green

          AmericanEagle1392 is absolutely correct! The dictator in the White House means bad news for the working stiffs of this country. He is destroying all opportunity as Socialists usually do. Hopefully the Tea Party can turn this thing around!

          • GetAClue

            God, you people are so amazingly ignorant. President Obama inherited an out of control government that had been grown substantially in the years GWB was President (over 66% in 8 years). And he also inherited an economy on the brink. The only way to come back from the brink was economic stimulus.

            Most educated economists agree that Obama has been fiscally one of the most successful presidents the country has had, and has actually shrunk government quite significantly since he took power in 2008 (something the GOP has *never* been able to do). America is well poised for the future, and is in fact heading in the right direction (and would be able to move much faster if it weren’t for the morons in Congress). As to the “bankruptcy” what nonsense. The overall public debt is currently about 90%, which is high (thanks GWB!) but is shrinking as a share of income the economy recovers, and is *way* way lower than the postwar figure of 150%. Please note that the way America recovered post war was to *invest heavily in infrastructure and grow the economy*. We all know how much better the economy became in the coming years.

            • Ken

              GeAClue is right on.

              It never ceases to amaze me at the ignorance of Tea Party followers. Of course they will never listen to the truth. Plus the Book Reckless Endangerment is just a bunch of Right-Wing crap that is marketed to the 25% of people who make Rush and Hannity Multi Millionaires peddling crap.

            • johnsnare

              Wow. Another blame Bush for our horrible four years of hope and change. I guess, you Obama lovers, do not blame The Messiah for anything. Obama, has to be the most incompetent,arrogant,misguided,ignorant, and anti-American President in history. Please list some positive achievement this man has done for America. Ohhhh, I forgot. He is also the Food stamp President. He expanded the welfare rolls, and handed out more FREE STUFF, than any American President. All this from a Community Organizer. By the way.? What the hell is a Community Organizer,?????.

            • Prosac

              The economy, better? Growing? Maybe like a bankrupt corporation ,who manages to borrow to pay its debts so it can proceed with the slowly envitable dissolution of the stock holder
              This administrations deficit has grown more than all previous presidents combined. How can an economy sustain such growing deficit ? The envitable is happening before your eyes. Unless, of course, you distrust Standard & Poors credit rating. . The continual Monetary Policy or counterfeiting. All you need to do is observe the charts of the Leading economic indicators. The respond to the quantative easing,Tarp,Cash for Clunkers,Shovel Ready, Federal Reserve the economy is hooked on this free money provided by Government. The more it provides the more it has to continue. Notice the bond markets response to Bennecke quote “taper”it almost went to hell when it thought the Reserve Printing was going to cease….hardly a thriving economy

            • tashi

              Get a clue needs to get a clue and do more background checks on Obama, including his ride on the backs of wealthy acquaintances wife Michelle. They are both users and losers.

            • Christopher Giofreda

              I hope you’re right, but we’ve got to be careful about being too optimistic. How things worked out seventy years ago doesn’t hold much weight now. This is its very own black swan with independent value. There are more differences than similarities between the two post-war eras. Also, other post-war eras have not been so rosy. Please share your sources so we can look at your arguments in greater depth.

              Best,

              Christopher Giofreda

              Sic Semper Tyrannis

            • Donna

              Honestly did you ever read any history???

            • The Man With No Name As A Name

              Most educated economists agree that Obama has been fiscally one of the
              most successful presidents the country has had, and has actually shrunk
              government quite significantly since he took power in 2008 (something
              the GOP has *never* been able to do).

              Nonsense. Government spending is increasing. Name one thing that has actually shrunk, other than our military.

        • joel

          Obviousely you are smarter than He is , did you forget who trigger the crisis ….oh no ……
          Aside of ranting on something you have no clues , any other purpose , you need to take your lithium at regular basis as prescribed …..

        • Quado

          AmericanEagle1392 has a problem with affirmative action AND democrats. We get it.

          Yawn.

    • John Parker

      No you’re just mad you’re a republican. You will never win again. So stop crying and go f urself fag. Obama got this after Bush the country already was bankrupt. Any republican can’t change that as they started it. I’m not saying they’re bad i’m saying your wrong though. Republicans are more to blame.All they did was make the economy worst but the democrats try to fix it at least.

      • Judy

        Republicans made the country bankrupt?? What history have you studied, sir? This country went into debt way back during the depression. Then, when FDR created the social security and welfare system and we went further into debt thru WW2… Let’s see…he was a Democrat! The country generally prospered or was set up for the next administration after a Republican president. Just look at the history books. Theodore Roosevelt back in the industrial revolution. Eisenhower during the 50s…after a major world war. Then in the 80s with Regan…which totally set up the prosperity we had during the 90s with Clinton. It was Clinton who signed the bill right at the end of his tenure that destroyed the mortgage lending industry, not Bush. Bush just pegged with the after effects, but it wasn’t him who started that mess. Unfortunately, for Bush he had to deal with our nation being attacked by some kamikaze pilots who hit the twin towers….causing a major multi-billion dollar expense on our nation. I just wish he would have pulled out of Iran sooner, but that is a judgment call. It’s always easier to criticize in hindsight, but no one has that luxury. President Obama caused our country to go way further into debt than any president we’ve had so far by the trillions of dollars. So, as far as Democratic presidents go…you can keep ‘em. They are very good at creating more debt…At least the Republican presidents try to find ways of actually boosting the economy and creating cash flow to use to pay down our national debts. You can only do that with a business mentality not a welfare mentality.

        • Lucie

          You are totally correct!! My parents immigrated to this country from Cuba many years ago and never, never took a penny from the government. Republicans know how to run a country, Democrats only want what they can get for free. This country represents Freedom, citizens working hard to better themselves and giving their children and grandchildren a better future. If you really look at what this president believes in and has done in the past four years, I am sad to let you know that we are becoming a Socialist country. My parents lived in Communism and were so happy to come to the USA, country of Freedom. They always said if you work hard get an education, you will be rewarded.My parents sent my sister and myself to college with their money, never asking for a loan or freebees. That is because they had JOBS which we lack due to this president. I hate to see what my grandchildren will have to deal with due to the debt we have in this country. I pray everyday that our present President stops taking our freedom away. Just saying!!

          • rayeni

            @Lucie and ALL the anti democrats out there. You all are very ridiculous with tunnel vision. How stupid and uninformed you all are. Know your History. I won’t claim to be a History student but I’ll tell you this. NO WAY can President Obama come into office for a 2nd term if the majority of Americans didn’tsee or think that he can propel us forward. There is no way in hell that he can clean up this huge mess America is in because of previous presidents. We suffered thru two Bush presidency where did that get us? Everyone freaking out over “Obamacare”. Anyone out there remember Reagangate and Nixon impeachment? ALL REPUBLICANS. Mitt Romney instigate the same health care reform in MA. It’s good that he can do it but because we have an African-American President, for the first time, who made History, you all just want to piss on his parade. President Obama (and he is the President, like it or not) or any president after him will be unable to clean up this mess that we are in prior to Clinton. Bush F’d up our country with a war that was unnecessary all because they tried to kill his “daddy”. The first Bush got in there by default. Have we forgotten Ford? Oh…..I know…lets go back to the Great Depression why don’t we!!!!!! This recession goes and come with different presidents. President Obama is not a miracle worker nor will the next one to come after him be. It will be worse before it gets better. So prepare yourselves for the next republican president and start hoarding necessities to survive the onslaught of what is to come. Wake up and smell the coffee or the roses. whichever suits you. We are still living in a free world and for that we should be grateful. Who on here would want to work just 100+ days per year and get paid ton’s of money? My hands are raised. Hell yeah! Does anyone know or care that President Obama gave up 10% of his yearly salary to help those that needs help? Look at the good and the bad please. No president before Obama have ever done that before and NEVER will. He works just like you and me so why should he get paid? Would you work for free? I think not! YOU ALL NEED TO GET OVER YOURSELVES because the next president may not care about this country as much as the current one does. There are more people of the caucasion persuasion than there are blacks in the welfare office. Statistics show that. Learn the history of the previous presidents and get it together. Stop this bashing. This man can only do so much in 8 years. The next president may have just one term. Obama got 2. That’s good enough for me and his supporters.

            • Pete McMahon

              Your an idiot, you have no idea what you are talking about everyone wants to blame Bush (both). Answer this in the past what has gotten us out of depression? War, you know why because war brings jobs to this country. Your uneducated and just like to try and push your idiotic views on people. Why did we have to gice huge bail out packages to the banks? Not because of Bush, but your friend Clinton. You tell people to know their history go back and study a little yourself. If your going to make claims make sure you are correct before you make yourself look like an idiot. Our whole political system is in shambles until we change the way we do things we will never be get our selves out of debt.

              • Eddie

                Pete, please learn the difference between ‘your’ and ‘you’re’.

                • Jim

                  Grammar? That is all you can come up with? Really? That is exactly what someone that knows nothing about what is going on and has nothing to say always does. Oh you spelled this wrong, oh, you used this word the wrong way. You probably would look less stupid calling him names.

                  • tashi

                    Maybe you should pay attention to the way Obama speaks to groups depending on region and ethnicity…he can sound embarrassingly ignorant…or maybe that’s the real Obama.

                  • Laura

                    Actually, I am a registered Republican (but I vote for the person, not the party) . People don’t realize what a lot of what is currently happening was set in place long before our current President. I agree, I think Clinton got us in a lot of the mess we are in. Jim, however, you are, in my opinion, wrong. It is very hard to take someone’s thoughts too seriously when you make as many mistakes as Pete did. We all make mistakes, but Pete’s were pretty pronounced. Doesn’t mean what he had to say wasn’t important, but I understand why Eddie wrote what he wrote.

                    We should get off Politics, in my opinion, and go back to what the article is actually about. Good luck, and take care everyone.

            • Larry

              Donated 10% of his salary to help people?? You do realize that is only less than $100,000, right???? How many needy people do you think that helped?? Are you that arrogant, stupid, or racist that just because the president happens to be Black, and YES I said Black, because he is NOT an African American, you’d first have to be American to accomplish that feat. He is a citizen of Indonesia and a Muslim. Is it any wonder he is trying to turn us into a Socialist country?? He got re-elected because liberal left-wingers can’t see the forest for the trees, and we are in the worst economy since the Great Depression because of your Hero Obama. Bush had nothing to do with it. If you study history, wartime economics are beneficial to a country’s economy, not a detriment. You want the government to support you and the heck with the country going bankrupt. I can bet youare in favor of him abolishing the 2nd Ammendment to our county’s Constitution as well, am I right? If you don’t know what the 2nd Ammendment is, look it up, and get your facts clearer before posting on an intellectual board, you are tremendously lacking the ammunition to keep up.

              • richard

                Could not have written it better than Larry!! Obama is an idiot and pushing his health care plan no matter how much it hurts America!! Why does he care he wont have to use the health care plan he forces on us. Oh sorry we can pay a fine not to use it ;)

            • BBHS

              sorry to disagree with you, but NOPE, MOST AMERICAN people DO NOT want this to become a “socialist / communist” nation…..there are PLENTY of these type nations for the communist or socialist to move to, if that is their desire. BUT the election hussein obama illegally RAN in, using dead peoples names, or even tv characters has been proven……..so HOW can you say he won the election, it was stolen, rigged, or illegally obtained? The administration has “surrounded itself” with OTHER communist / socialists, EVADES questions, and continues to IGNORE the voice of the MAJORITY in our nation…..makes me sick to see this happening. And I pray, to the one true GOD in Heaven to help my country, as HE IS THE ONLY HOPE WE NOW HAVE…

              • Glocklady

                Well, we know that Bush didn’t win the Presidency. Gore got more votes and the Republican Supreme Court crowned Bush. The majority voted for Gore. And the majority voted (in HUGE numbers for Obama).

          • Ken

            I hope all you Republicans learn the truth. Under most democratic administrations the economy grew faster and the stock markets grew higher then Republican administrations. That is just a plain simple fact. You can spin it any way you want but the Democratic administrations are better stewards for the whole economy.

            Also, Reagan TRIPPLED the national debt, ( he is know as the godfather of deficits) Dick Cheney boasted, ” deficits don’t matter”. Obama inherited a mess from the Bush administration and has done a decent job of turning things around, but he hasn’t been forceful ennough with the do nothing GOP Congress who knows helping the economy will help Democrats and Obama. They would rather keep the economy bad for everyone then to help the Country. Truly not patriotic

            • The Man With No Name As A Name

              So, Jimmy Carter was a boom and Ronald Reagan was a bust. Funny, that doesn’t mesh with my memories having lived through both of them.

              Also, you seem to have forgotten that President Obama had both chambers of Congress for the first two years of his administration. He could quite literally pass anything without a single GOP vote. So how did the Republicans stop him from doing whatever he wanted?

          • francis

            what you cant comprehend it isn’t democrats or republicans that dislike him its older people anyone over 50 you should ignore because they are all selfish and will hurt the youth because of their greed once those people are dead the world will become a better place period. the things that are being done are for the youth that’s why the old farts hate him.

          • Glocklady

            So now American presidents owe immigrants jobs? We let your family come here and work and get educated and you then turn around and speak ill of our Country? If it is so bad, Delta is ready when you are – Cuba is waiting. Your parents should have stayed in Cuba and fought to make it what they wanted it to be. Instead they came here, sat around, complained and whined because Americans didn’t want to die to free a little island that is of no consequence to anyone. Go back and take your future grandkids with you.

        • mike

          Oh puhleeeezeee….. the facts are that EVERY Administration (Democrat or Republican) paid down our debts after WWII UNTIL Ronald Reagan ushered in trickle-down economics. We went from 121% of GDP after WWII to ~ 35% of GDP at the end of Carter’s term. THEN Reagan added 20% to that GDP figure, Bush 1 added another 12%, CLINTON REDUCED IT ~9%, and BUSH 2 added another 25%. Obama is a question mark at this point since his tenure isn’t over… but clearly considering that he inherited the worst economy in 70 years with the CBO projecting $Trillion deficits BEFORE he even stepped into office, his numbers, what-ever they may be deserve an asterisk on them.

          • mike

            Look it up on Wikipedia – “US Debt by Presidential Term” … it’s all there for anyone who wants to know the truth…

            • AmericanEagle1392

              Mike, please quit what illegal stuff you are smoking or drinking.

              The national debt was $6 trillion when Bush 43 started, and it was $10 trillion when he finished 8 years later, after dealing with the Clinton recession, fixing a broken defense and security apparatus that led to 9/11, and having to fight 2 wars to push Al Qaeda back from our shores.

              The clueless Obama took a crisis caused by Democrats – read the book Reckless Endangerment to see what I’m talking about – and turned it into a catastrophe – adding over $6 trillion in national debt in under 4 years, in spite of winding down the wars. Yet we have 90 million unemployed, millions who have even given up looking for work, 50 million on food stamps and 11 million claiming to be disabled – which are all records.

              We can’t even impeach the sucker because his replacement would be Joe Biden, who is even dumber than he is. Nothing’s going to improve until some grown-up takes over in 2017.

              • David

                I don’t get the need to bolster one’s stance with bogus “facts.” 90 million unemployed? So we have a 29% unemployment rate? Are you counting infants or something?

                Bush “had” to fight 2 wars to “push Al Qaeda” back from our shores? Really? The guys in the caves were storming the beaches? And invading Iraq was clearly needed as we have now seen they neither had WMD, nor did they have any part in 9/11. So, there’s another $2T mulligan that had the added benefit of costing 4,500 American lives and tens / hundreds of thousands of Iraqi lives.

                $700B in bailout – gotta be Obama! Nope, Bush again, and that was needed after he had been at the helm for 7 years. Who’s fault is that? Had a House and Senate Republican majority for most of those 7 years, too. Now who’s to blame?

                When Reagan took office, there was about $1T in national debt. Another $1T accumulated under Clinton (despite having balanced the budget by the time he handed the reigns to Bush), and the other $9T….$9,000,000,000,000 just so we are clear, was added under Republican presidents.

                The facts do not support your assertion that all is well when Republicans rule the roost.

          • Sophia

            And don’t forget, Nixon took us off the gold standard reducing us the U.S. from having money backed by gold to currency which has the value of nothing the moment it stops moving.

            • Rick

              Sophie is right on……our money is worthless. It is a worthless fiat currency, buoyed up only by foreign countries like China who foolishly think they need American dollars. Actually, they are starting to wise up, buying precious metals and resources with American dollars to rid themselves of those dollars, then they will have controlling interest in so many valuable and mandatorily necessary resources, just as they and Russia and India and Japan get off the dollar standard. And has anyone actually audited the gold reserves of the USA ?? Those declared reserves do not exist in the amount claimed. It is all phonied up, just like the value of our dollars. We have a worthless currency given life by those who think they must continue to support the buck. When they discover their world holding hands to defy the USA, our nation will be crushed into a Depression that will make 1929 and the subsequent years look like child’s play. Obama has yet to address ANYTHING of substance to get us on track to recovery because the solutions are not on his Q-cards.

            • lsbrew

              the gold standard wouldn’t work for our economy due to the fact there isn’t enough gold to cover every dollar we have in circulation. and if we tried to buy up all the gold that is out there, the price would inflate due to the price / demand rule and our dollar would inversely shrink.

              nice try Sophia.

          • MickiH

            Finally, Mike, someone like you came forward and printed the truth. Most of our population think Reagan was the most magnificent president we ever had. Maybe now they will accept the truth. Like almost every other Republican president, he tried very hard to ruin the USA.

            • Bob M

              Soooo… that would have made you a pro slavery Democrat back in the late 1800s?

            • nunya

              And Obama is succeeding where he failed!

            • Rick

              Reagan was GREAT !!……I had a car dealership during his rein. My flooring costs soared from 7% to 37% in less than 4 months. Customers who went ahead and did used car deals paid up to 21% interest, not to us, but to the banks doing their financing. One third of the dealers in my county went belly up. Those who didn’t were safe only because they were in business for decades, had assets passed down to the next generation, and were debt-free. We tried to be, but Ronnie did us in.

        • Pat

          Judy, I don’t know where you learned your history but it must have been in another. You need to go read a little more about the “great depression” that FDR inherited. He did come up with social security but the “welfare” as you like to refer to it as, began with LBJ. Baby Bush did create the big crash in the late 2000’s by not paying for two illegal wars, medicare part d and complete deregulation and a non functions SEC that let the banks and wall street do what it wanted. I don’t know if you remember the “first” stimulus asked by the treasury sec, Hank Paulson, who wanted $700,000,000,000 and wanted no strings attached or not be asked where it was going to go. So, again, go look up some facts and read your history again and quit watching FAUX SNEWS! Just saying.

          • Errol Helton

            Pat, I know you mean well but your facts are the result of the rewriting of history by the socialist academia in our public schools. If you want to know the truth of our history, go to a library, locate some history books published prior to 1940 and see how the economy unfolded. If you are depending on the “mainstream media” for your information you are being manipulated, and mislead. Don’t become another drone of the system. Think for your self.

            • Caiha

              The truth is both sides stick to whatever set of lies is more appealing to them. The mainstream media may be a load of crap, but most alternative sources have been proven and documented to be even further off from the truth. That includes your precious Faux News. Don’t be a drone? How about you stop believing everything you’re told by the side who’s lies you like better. Then we’ll talk.

        • Errol Helton

          Very well said. It’s wonderful to see an intelligent comment like yours. Errol

        • Skeptical Prime

          This country was bankrupt way before the depression Judy, What history have YOU studied? Remember the BullMoose party? That was the beginning of the end. BOTH parties were complicit in letting the moneylenders come in and rob the the American people blind. The only thing Reagan did right was the Grace Commission, ,and that was a private sector operation. You wanna talk about Slick Willie? So be it… but in the same breath you have you include Daddy Bush . Remember Mena, Ark. and Iran-Contra? Ever ask yourself who REALLY holds the note on the American debt? The way this debt based system of creating money is structured, we as a people and as a country will NEVER GET OUT OF DEBT. The Republican Presidents, as well as the Democratic Presidents are just so much window dressing. They’re only to there to give the American people the illusion of choice, whether it be economic or otherwise

          • Manfred Magillicutty

            This need to create the false equivalence between parties, is a total copout. That reminds me of the parent that’s too cowardly to discipline one child because he constantly harasses the other until they come to blows. A CHEAP copout.

        • Jim

          This whole Democrat vs Republican thing is a waste of time. It’s not Democrats or Republicans who are bankrupt it is America. You the people bankrupted yourselves and all of this petty squabbling leads you further and further into the woods away from the road to recovery.

          • Patrick

            I tend to agree. I dont believe there is nearly the actual productivity to support the number of people who have for so long lived so lavishly in America, and so much seemed so dependant on waves of Latino immigrants eager to work for nothing McJobs.Other countries seemed to channel it into welfare and generously funded education, America seemed to keep socking it into affluent middle-class and upper class personal wealth.
            The personal consumption financed for decades now by borrowing, and lenders EAGER to lend to America, is staggering.There might be a great many very hard-working people who shun welfare compared to other Western countries imbedded socialist mentalities, but the education system at entry level also seems to be in virtual shambles…its obvious where most manufacturing jobs have gone , albeit thats the same in the rest of the Western World.
            Well the Chinese and the like are not only doing it all, but also doing it surprisngly WELL.
            One thing with that kind of bunch, look at how effectively their schools etc work, compared to Americas.Americas demographics may be part of the reason, the black school phenomenom, but only part of it…look at the social impact of DRUG Abuse on white trash!
            Too many social and economic chickens have come home to roost finally, at the same time, and unlike in previous crisis where there always seemed hope, I frankly dont see where you get to go from here where it all magically gets good times again.

            • Stephani Jones

              You are so wrong. It is those “JOB CREATORS” refusing to pay anyone a living wage anymore. They also refuse to pay taxes and expect YOU to pay for them. Stop blaming Mexicans and Blacks and drugs. It is people that are TOO STUPID to vote right and listen to all the Faux News and repiglican lies.

              In 2007 the top 1% of American dollar earners earned $21.9 trillion dollars, the next 9% earned $24.9 trillion leaving $18.4 trillion for the other 90% of American workers. Let’s review that; $46.8 trillion dollars earned for 10% of Americas workers and $18.4 for the REMAINING 90% of American workers. That makes 71% for 10% of the highest wage earners. This leaves 29% of all dollars earned in America, remaining for the lowest 90% of the wage earners to split among them. I wish I had actual people count so I could show the real dollar disparity per person.

            • Glocklady

              Don’t be fooled by the Chinese. They only test two of their main provinces during international testing and only their best and brightest come here. China is a nation of opium drug abusers and most of the children in provinces outside of Beijing and Shanghai are illiterate and the poorest of poor. Don’t believe the Chinese propaganda about how smart they are and how great their educational system is. If they are so smart, how come they have to come here to go to school? Why haven’t they created schools that Americans are dying to get accepted into? And why are American colleges and universities letting them in by the boatload? Money. Their richest come and we let them by our “inferior” education system. Does it make any sense whatsoever that they are dying to come here and go to school if our schools are so bad and their schools are so great? NO. Don’t believe it. Anyway, 1 in 4 Chinese students in American Ivy League colleges and universities drop out before they complete their degree requirements. Why? Because beating kids to get them to remember facts for tests is not the same as learning. Straight As and 2400 onthe SAT is not an indicator of ingenuity, creativity and willingness to fail. So, again, don’t believe the nonsense about how well the Chinese are doing anything.

          • Jim

            I agree with you, Jim. Whether the president is Bush/Clinton/Reagan/Obama the US people will not accept “No” for an answer when they demand free money. No one gets elected by NOT spending money. W Bush understood this and shocked his fellow GOP’ers (Including me) when he proceeded to spend money like a drunken sailor. He got reelected.

            • Glocklady

              Bush was no drunken sailor. Don’t insult sailors. Bush was a pot head and a drug abuser. He was drunk, but not like a sailor – more like a drunk.

        • Marty

          Judy, judy, judy…and what history books have you been studying? Before Roosevelt we had Herbert Hoover. Surely you remember Herb. I believe we had what we now refer to as “THE GREAT DEPRESSION” for long years. We have been nowhere near something that extreme until G. W. Bush, who just let those around him have at it because he was incapable of governing and had no common sense. You have no argument I’m afraid. Perhaps you went to a different school where they skipped the 29 market crash and the resultant depression altogether. BTW, Ronald Reagan made us a debtor nation.

        • http://Shebudgets Kay Stoner

          Judy, Everyone has an opinion. We don’t all share yours. The Republican Party is the first to start using social security funds for other purposes. We wouldn’t be where we are today, if they would have kept their hands off of it. I believe that we should never have gone into Iraq, considering they had nothing to do with the 911 attack. As you stated, the attack left us with a major multi- billion dollar expense, which now has caused us to go into trillions. In case you didn’t realize, we are still paying for these wars. I believe Iraq is the country we invaded, not Iran. I got into this web-site today for entertainment, but instead feel the need to defend a President who has come into office, with some having no intentions of helping in any way. Look at several of the state of the Union Speeches. Almost half of the room didn’t clap or stand in agreement, for ways to improve our economy, even though they voted in approval in the past. Common sense tells most people that some of these things were for the best interest as a country.

          • Manfred Magillicutty

            They wont win elections until they accept THEIR role in this economic debacle THEY created. Throwing tantrums and lying dont change the facts. Neither do histrionics.

            • Patrick

              they wont win elections again,mainly because the country has browned and the middle-class are routed and on the run.

        • Be in it

          Take your whining self to Canada, please!

        • MickiH

          He read the honest history, not that which is made up by the Republicans. The rich always make out better when there is a Republican in office. Read the history of what happened after Reagan and how Clinton cleaned up most of his mess.

        • Bestoink Dooley

          LOL. Sonny, when Clinton left office there was a surplus, remember. The huge debts started mounting with Republican Bush and his tax cuts and spending. He even implemented a new medicare drug benefit that Seniors didn’t even ask for.As for your statement ” he should have pulled out of IRAN earlier,” are you really that dumb? It was IRAQ that was invaded, not Iran, fool. That’s says it all about you. And let’s not even get started on Bush & cronies lies that led to that wasteful, trillion dollar Iraq fiasco.

        • Patrick

          Q”I just wish he would have pulled out of Iran sooner”

          I assume you meant –Iraq–

        • luigi

          right on ! ,Judy you got that right !!!

        • Wade

          Proven fact: This country has been in the positive twice. By Andrew Jackson and Bill Clinton both Democrats

        • Duh

          Stop arguing and go look up Enterprise System…set up by Reagan. What does it matter anyway… Federal Reserve System set up in 1923… Our entire economy is based on faith…

          • Nansy Saving

            Fed was set up in 1913. Look it up.

        • Glenn

          Sorta right actually this country has been in debt since Washington took the oath of office Dems tend to spend more and raise taxes in order to raise money foe their programs. Rep try to whittle it down with the primise that if you work you get (DUH!) more for yourself. We as a country has become overall so lazy most expect handouts which is why so many vote Dem not realizing any money they make does not come back to them.

          • Stephani Jones

            You are simply LYING, you are aware that this information is PUBLIC aren’t you? We can prove who spent what so STFU you liar. http://tinyurl.com/9zpvxou JSYK, what this President DID NOT spend you liar.

        • James W. Pollock

          Judy, the Republicans have allowed the corporations to go offshore to avoid taxation. Most of the top 100 companies haven’t paid ANY taxes–General Electric, etc. The business mentality, as you put it, would bankrupt the treasury–which wouldn’t be bad if they’d just cut the Pentagon–a huge boondoggle where trillions just plain disappear, no doubt into Swiss accounts. When was the last time the US won a war on its own? The Mexican-American War, I guess. Oh–Grenada, which took 3 weeks to clear an airstrip. Bush DID NOT deal with those twin tower kamikazes–he and Condi and Rummy blew it–all the signals were there…the Mossad alerted us that something major was brewing…talk of hijacking planes…Bush couldn’t be bothered and Condi said there was nothing to get concerned about. Thus some clowns with box cutters rocked our world to the tune of trillions if you add Iraq and Afghanistan to the tab.

        • mike

          Awesome Judy!! You are right on with all your comments….most people do not see this or try to understand that that Stalin predicted the US would end up a socialist economy, boy was he right….we are there and headed for a depression era for our world.

          Only a worldwide depression will get the world back on track, just like bankruptcy resets ones financial clock. All governments are out of control and ours seems to be the worst….spending all our money, giving it away to other countries and creating more and more laws everyday….

          We need to abolish so many things in government: the IRS, the FED, etc.

          Great comments….mike

          • Eric Siverson

            you need to understand that the same people do not stay in the top 10 % every yr or even in the top 1 % very long . Over 1/2 the people in the top 10 % are not in that same bracket ten yrs latter . Things change , people retire ,or lose their position . like wise people at the bottom also change positions

          • Glocklady

            Mike, you are an idiot. This is hardly a communist or socialist economy. The rich, that get rich because of American stability and investments, pay less taxes than any other western country and live a better life than in any western or first world country. Just shut up with all that crap. Stalin is dead and so is your progaganda.

        • Sequi

          I think you’re the one in need of a history lesson. The US has never declared bankruptcy. The US first went into debt during the Revolutionary War, as the Continental Congress. It has alternately balanced its budget and run a surplus or deficit throughout its history. The prosperity of the 50’s (under Eisenhower) was set up by a very forward thinking Truman and a Republican Congress, working together to create the Marshall Plan, which rebuilt the European economy and established the economic basis of the post-war years. Eisenhower didn’t get elected until 7 years after WW2. Reagan actually ran the biggest deficits in US history up to that point in time, which was controversial for a peace-time president. The Reagan deficits were caused by drastically cutting taxes and massively increasing military spending. There was prosperity in the 80’s during the Reagan economy, with a pull-back under George HW Bush. Bush Senior successfully reduced the massive deficits created by Reagan, but by increasing revenues (raising taxes.) This cost him the election, but he hadn’t done enough. Clinton raised taxes again, this time successfully balancing the budget. He was stopped from increasing spending by a Republican Congress, seated in 1994. There was no Clinton bill that caused the financial crisis. If there had been, George W Bush should have corrected it in his two terms as President. George W. Bush ran larger debts than Reagan by increasing spending by engaging in two wars (Afghanistan and Iraq), increasing the costs of Medicare (Prescription Drug benefit), and then cutting income taxes. I’d agree that the US had to respond to the Twin Towers, but the Iraq War was completely unnecessary, and cost us $800 billion alone (and Bush did not account for it in his budgets.) Obama has been running deficits as well, but he has actually reduced government spending. Ironically, a large part of the unemployment picture has been caused by the government laying people off. The private sector technically came out of recession four years ago. Private sector employment gains have been offset by public sector losses.

          • david handel

            thanks for an intelligent comment. there aren’t a lot in this thread.. did you know that George W estimated the cost of the Iraq war to be around $65 MILLION?

          • The Man With No Name As A Name

            “The Reagan deficits were caused by drastically cutting taxes and massively increasing military spending.”

            Your argument falls apart if one simply looks up tax revenues during the Reagan years after the tax reforms. The fact is that revenues rose sharply. So, it wasn’t tax cuts.

        • Jon

          It’s called American history. Stop watching hoax news and listening to the big fat idiot rush limbaugh for a while and try thinking for yourself. ronnie raygun is the one who put our country on the path to financial ruin.

        • Tony

          Pull out of Iran? I don’t recall, officially, that we were in Iran.

        • BillGeiss

          Reagan quadrupled the Federal debt — almost as much as GW Bush did. The Democratic presidents had to drive down debt from these foolish administrations. Reagan was realluylucky as the oil cartel collapsed and oil prices came down a lot, but he never had a budget surplus during his administration unlike Clinton.

        • Quado

          You’re mad because “Clinton who signed the bill right at the end of his tenure that destroyed the mortgage lending industry”????

          How ironic. And sad.

        • Cynthia Hicks Carter

          ‘ I just wish he would have pulled out of Iran sooner,’

          huh??? just one of your MANY lies….

        • Glocklady

          Judy, you are delusional. Clinton left us in good economic shape and then Bush put us into two wars. He spent every nickel we had and then gave no bid contracts to his buddies at Haliburton. Remember US dollars being rolled up into footballs and thrown around the dessert? Remember that billions of dollars disappeared and were unaccounted for but couldn’t be investigated because they disappeared on foreign soil? Remember the tax rate was cut for the richest Americans and then the coffers were raided? I guess you don’t remember because you aren’t rich and you were too busy listening to the propaganda.

        • bmytedbear

          Judy,
          Well said lady. I think I read your book.

      • jon

        There has been a deficit going as far back as the 1800’s. So who is to blame around that time?

      • Cindy Sturgess

        We were in debt a few trillion dollars. OBAMA decided to go full steam ahead in Afganistan.
        He grew the federal government by 20%. He added 12 trillion to the debt.
        He has been listening to private parties, public parties, Political Candidates, and the general Public through the NSA for 7 years. Sorry, but he is worse than Bush.

        Get a clue, the democrats are turning this country into a bankrupt, social country.

        Look at the facts, not your emotions because he is a Democrat or a Black President.

      • Pete McMahon

        Your not entirely right most of our deficit comes from the collapse of the housing market. Who’s policies allowed anyone who wanted to buy a house was able to weather or not they could afford it? Answer everyones favorite president Clinton along with his buddy Greenspan. Now what you are talking about before you say something. Our political system is highly corrupt in this country. Your democrats have nothing to help this country. We have been broke for decades just recent presidents have done nothing to help. Politicians are only out to help themselves and their friends aka money donors.

      • Danny Ocean

        If you want to see the democrats at work, just take a look at Chicago, and the state of IL. There are 81 consecutive years of democrat reign in Chicago. Highest taxes, gas prices, gun deaths, which incidentally Chicago is a gun free zone, along with a sanctuary city. Pensions are one giant scandal, which the tax payers will continue to pay so the elite can have their lofty retirements. Illinois debt is 153 billion and businesses are leaving left and right.
        Obama has way to many Cover-ups/Scandals like Benghazi, Fast-and-Furious, NSA, IRS, Birth certificate, College records to be taken seriously. No one is buying the blame game.

      • homeydaclan

        typical liberal; resorting to name calling because you cant resort to dealing with the issues…

      • bmytedbear

        Bush’s debt doesn’t hold a candle to Obama……for your info it’s high time to stop cursing each other out and all those in Congress, Senate and White House have to figure out how to stop the bleeding. First Second and Third thing that Must be done is to balance the budget. I have never worked a job by the hour since I graduated hight school. Owned 6 differerent business’s and the only thing that keeps them going is a profit. One cannot spend More than they make, from the poor to the wealthest on earth. Trust me on this one.

    • JohnJ

      If I may, the country was bankrupt long before Obama became President, the people just couldn’t see it.

    • Farrahfan1

      …other than the fact that Elton John is English…idiot. Because this article as everything to do with people’s politics and not poor management of their money…?!?

    • mike

      And I may be wrong… but there’s the predictable LAME Conservative trying to make everything Partisan…

      • Manfred Magillicutty

        They cant accept they lost the election. BADLY. Let them keep doubling down. We’ll keep whooping them at the polls.

    • mark

      Is this why blue states have to pay for the deficits produced by the red states in this country?
      Is this why Clinton had to pay the deficits produced by Bush, sen., only for Bush jun. producing even more deficits?

    • Paul in FL

      Yeah, I kind of noticed that, too. Going bankrupt – consuming more than you produce – is a pretty good definition of greed. What kind of people is it that are greedy, again?

    • http://aol Charley Twobears

      ???? democrats don’t spend ?????
      Her……$1,670,000.00 per year for her 21 “personal assistants”
      Him…..pick a “vacation”…any of the many……..just a few million of OUR DOLLARS
      Plesase don’t tell me “so did BUsh”
      I’m NOT IN LOVE WITH BUSH….but his “vacations. were either Camp David or Crawford Tx

      • Stephani Jones

        It does not matter where they go, they take Airforce One and the Secret Service still has to go and still has to be paid. If the go to a hotel or any where it is COMING OUT OF THEIR POCKET. So stop your lies. You are probably not even aware since you are far more interested in LYING, that all PERSONAL EXPENSES (INCLUDING FOOD CONSUMED IN THE WHITEHOUSE) are paid out of PERSONEL accounts NOT the taxpayers. Oh and the First Lady has a allowence for staff, same as the last and every first Lady, that is all she gets for staff. So again, STOP YOUR LYING.

      • Glocklady

        Bush took more vacation than any President in history. He was just absent until he allowed terrorists to attack us on our own soil and then started two wars – one against the wrong country. He wasn’t bad, just dumb. He seems like a really nice guy.
        His father was a better President and a better guy.

    • Jan

      Huh? Mark Twain … Walt Disney … were Democrats? Um, no. And before complaining that Trump never actually filed bankruptcy in his own name, do some research about how many companies he took down that path. Guess it’s OK as long as you’re just screwing people that work for your companies.

    • Frank Uckerman

      Well, you’re wrong, but I don’t suppose it will make ANY difference to you, idiot that you are. Your ultimate goal was to make some completely baseless negative comment about President Obama. Why not dispense with the prologue trying to tie it into the article, and just be the pointless, retarded troll you are?

    • carol

      Obama cant bankrupt the country because Bush already did that when he deregulated the banking an gave million dollar bonus to corporate people who did nothing for them and put us in a trillion dollar war.. no Obama can hardly beat that

      • Glocklady

        Obama certainly didn’t bankrupt the country but it was Clinton that deregulated the banks and the mortgage industry. I really hate the idea of another Clinton or another Bush.

    • BBHS

      amen, Steve, EXACTLY what is happening!

    • Elyse Del Francia

      President Obama inherited the worst economy in US History…he certainly did not cause it but has been fixing what the many years under the Republican White house created!!

      • The Man With No Name As A Name

        Uh, did you go to “publik skools”? Did you never hear of 1929 and this little thing called “The Great Depression”?

    • Quado

      Yeah! — why can’t they just stop at spending other people’s money?

    • J

      Is Donald Trump on this list? Is he a Democrat?

      • Glocklady

        Trump is a Republican and he files bankruptcy for a company every few years – faiing to pay his debts and his employees. Then he get loans from his buddies and starts all over again – all while living in luxury.

    • david handel

      so, if you are a Republican, then it must be okay to steal money.

  • Red

    I feel bad for these folks, one day you are rich then boom! you hit bottom, life is unfair…

  • Elizabeth

    I LOVe Nick Cage, but my dentist always told me never to get teeth ( bonding, crowns, whitening) whiter than the whites of your eyes as it :”looks fake” to the eye..so to speak..Don’t know why I just thought this LOL! But that is when you look at someone and say ” oh,,fake teeth..” :) Whatever! :P

  • Ashley Fitzslither

    Big deal. Money comes, money goes…The real problems are the people who rant and rave over the process while they should be focused on making more of it & the people who have their eyes on YOUR money!

  • http://shebudgets.toobnetwork.com Sherri Pruitt

    So sorry for them. However, considering the amount of money they have made in their careers, one would think they would have the good sense to hire good money managers. And Obama wants to raise my taxes to pay for his healthcare program. People need to get jobs and pay for their own healthcare and taxes. I pay for my insurance and my taxes–on time!

    • Lucii

      The taxes are already paid….we just need to determine where they should be spent and if we are gonna have the tax money healthcare is a great place to start. I prefer that over welfare chekcs!

    • Patrick

      “one would think they would have the good sense to hire good money managers”

      they probably all did! thats one of the first and biggest mistakes you can make!!

  • cody

    WTF didn’t any of them start a tax-exempt foundation??? High taxes always stimulate a search for loopholes in the law that may be legally utilized to reduce the amounts due to the tax collector, and there are abundant signs that the present era of high federal income taxes is not exceptional in this respect. Tax avoidance is legal whereas tax evasion is illegal.

    • Stephani Jones

      Turn off Faux news there is NO “present era of high income taxes”. Taxes are the lowest they have EVER been in yours and most peoples life time. Anyone stating otherwise is a LIAR and a tax cheat or a KNOW NOTHING like your self. Why can’t you people ever read the facts before spouting off with your lies? ‘Present era of high taxes’ jeez what will they think of next. The taxes are too high for the average person, but that is the fault of anyone voting for a repiglican congressional representatives or senators. They support their rich business friends so they do not have to pay any taxes and the little guys pay their share. However that is your fault Cody for listening to and spreading LIES.

  • lie

    “Though he never filed bankruptcy, The King of Pop”

    So your article is A LIE.

  • http://yahoonews feuang

    There are few things that makes Celeb bank crupt. They spend to live up to what they gonna mke next year, they are too dump to invest they ownmoney. No movie no money,lost money because they invest on very risky busseness why? greed.

  • Susan

    The title I first read was 15 celebrities who HAD to declare bankruptcy.

    Well of course the did not HAVE to……they chose to be stupid with their monies and overdo the lifestyles they had. NO ONE forced them to behave that way. For the average person that files bankruptcy…they never get to have all the flash and extravagance that these people did. Dumb article — but not quite as dumb as those still whining and crying and blaming everything that they can on Obama. Will they ever grow up

  • http://blogspot.com/johnsunol John Christopher Sunol

    Anyone can go bankrupt. It is not a crime to go bankrupt as things can happen in your life to causse this.

    All it means is that your income is far less than your outgoings and over time this goes.
    So bankruptcy is NOT the end of the world

    there are far worst thins than this.

    John Sunol

    • Dot

      So true! I had to file myself and it was a huge relief. And yes I say I had to, believe me I explored other options and drained all my savings. Bankruptcy is there as a tool for people, regular people who get whacked around by life, to help get them back on their feet. I’m sure the banks I owed money to will not miss a penny, the top guys will get their bonuses just like always. And if they raise fees for their customers, they would have done it anyway, not because I filed for bankruptcy. The stigma needs to be taken off bankruptcy. A lot of people struggle unnecessarily. I wish I hadn’t been so ashamed about it and filed sooner.

    • homeydaclan

      thats the problem with people today. no concerns about going into debt to begin with. in the old responsible times, you did not spend money you didnt have. it is a terrible thing to take money from others and never repay it. these folks should spend the rest of their lives honorably repaying these debts…

  • Dorothy

    What caused these celebrities to file for bankruptcy simply was greed.

    • Quado

      Naaaa, they were too busy to think about this whole pesky “tax thing” and trusted their accountants to do the right thing. These were all perfectly honest mistakes… Next movie, please.

  • suzanne

    blah blah blah….stuff happens and people find themselves in trouble. For those of you were were judgmental above…..give me a break. And for those who turned this into politics, shut up

  • John

    Same track the USA is on right now, only way to stop it is to cut all the ridiculous federal spending now, no more kicking the can. The Repubs already conceded on the Jan 1 tax increase without getting one dime of spending cuts in return. No more tax increases. We must cut the full amount of the upcoming Sequester, if the pentagon can submit a plan for substitute defense cuts but in the same amount go with the plan, contractor spending is extremely bloated. Entitlements must be dealt with now, Obama admitted that federal medical spending was increasing at too fast a rate until Pelosi told him to shut up. Don’t cut COLAs on social security but modify program to means test; if requested recipient is a multi-millionaire I think he can do without a Social Security check.

  • http://none Ron Sanders

    Let’s forget the past, how about spending some time writing your congressman get a letter off to the white house and tell those folks to get on the obuma heath program.. The constitution says congress will pass no laws that doesn’t include them. They sure have so far, and you cry over yesterday.

  • Pina

    Leave Michael Jackson ALONE for God Sake. He NEVER filed for bankruptcy so he SHOULDN’T be on this list.

    Why don’t you mentioned that Michael Jackson donated over $300 million of HIS own money to charity throughout his life – more than any other celebrity!

  • Rachelle Myles-Velasco

    It’s really sad all original topics of discussion on the internet some how turn into political battles. If where you politically stand is all you have to define yourself I feel really sorry for you…….

  • Johnny Bramham

    Okay, I give up – who the hell is Chris Tucker?
    Never heard of him!

  • Citizen Shouverelain

    I just love it when I see the people who have had pots of money and now it’s all gone,I might be not well off,but I’m not bankrupt.

  • bob

    I would think being rich you can afford to pay a full time agent or someone to oversee your expenses and keep you out of trouble.

  • Courtney

    stupid to assume all talents in the film industry are all just ignorant when comes to money.. how are you doing when comes to money has nothing to do with their/our profession.. it has to do with people..

  • Max

    Easy comes eazy go and brobly luck iOS ought to be major player in constant winning or losing.

  • Corbin

    Too funny, you all are a bunch of people sitting on a chair that’s on fire, complaining that your chair is on fire. If you don’t like it, do something about it. WE THE PEOPLE, remember? United we stand, decided we fall

  • DennisTheMenance

    Well, IT TAKES $ TO MAKE $
    I know 1st hand
    Alot of these People Needed to Sepnd alot to keep up their Iage and Make Alot More
    and they Supported alot of Other People in the Process
    What ever Happened to Frank Sinatra, Boh Hope, Dean Martins Estates?
    and How about Johnny Carsons?
    Where’s Ronald Regans Estate?
    JAY LENO is Blowing His Millions on Classic Cars
    and Expect Him to Join the Many Others In Vegas on the Soup Line Kitchen some day

    Just Save 5% of your Income into a Safe BALANCED MUTUAL FUND or a Muni Bond Fund People

    • Mark

      Jay’s cars are an incredible investment. He’s a shrewd buyer, and he could sell his garage anytime he wants for a huge profit. He has $100M in the bank never touched from his Tonight show salary, he’s always lived on just the earnings from his stand-up career. You’ll be in the soup-line LONG before Jay ever is, that’s for sure. Loser. Yeah, put your money into a mutual fund or a bond fund. There’s a recipe for disaster. Sheeple.

  • Lu

    We all get poor at some point – but really hard to feel sympathetic when you earn millions, but spend it on luxuries. And at some point the writing was on the wall, but pride prevented them from simplifying their lifestyle…

    All they had to do was put their money into the best interest rate account, and live off the interest.

  • Michael T

    No surprise that Elton John blew all of his money. He blew a lot more than that.

  • SharonG

    Ah, Cyndi. Girls just wanna have fu-un!

  • JoeG

    Interesting Walt Disney filed before he got big. The amazing ones are Mike Tyson and big stars that blew 10s or 100s of millions in a few years. Considering the average person reading this article could live very very well for life on 2 million.

  • mike endom

    Doesn’t matter what party is in office,special interests run this country.As for celebrities,etal.going bankrupt,they are financially incompetent & as long as their stupidity doesn’t affect my life personally,I really don’t care.As far as the government goes financially,as long as they are able to steal from us through taxes,they will keep spending! Similar to the saying “how can I be overdrawn when I still have checks left?”

    • Caiha

      Yeah… and yet celebrities still go around acting like they know more about everything than the rest of us. I’m not sure if it’s because they surround themselves with yes men (so have no idea if their ideas are really valid because no one ever challenges them), that they live almost entirely outside the reality the rest of us face daily, or they really believe that being able to act or sing makes them better than everyone else. All three likely.

  • Dot

    You left off my favorite bankrupt celebrity, Dave Ramsey, who scolds and lectures everyone about financial responsibility and went bankrupt himself.

    • Mahater

      Ramsey is a clown. He advised people to buy used cars and not purchase service contracts? Talk about dumb

    • Brian Gagne

      He went bankrupt 30 years ago then became a multi-millionaire after that. He teaches from his experience. Your comment is deceiving and disingenuous.

      • The Man With No Name As A Name

        The founder of Alcoholic’s Anonymous was a drunk who got sober and wanted to help others do the same. Using the logic of the Dave Ramsey critic, a sober alcoholic can’t help anyone else stop being an active one.

  • Mat

    Is there a such a thing called bankrupt in the U.S.?

  • Ozymandias

    I was not surprised at those listed…a couple were so blatant in their profligate lifestyles that it is a wonder they didn’t get nailed even earlier. There are so many disasters impacting the ability of people to sustain the needed financial stability that bankruptcies have sky rocketed….sudden loss of jobs, rising costs of everything, unexpected medical bills…it is no longer a sign that the ordinary citizen who filed for bankruptcy has been irresponsible.

  • Tori

    If nick cage had a penny for every meme created with his face, he wouldn’t need to file ever again

  • BC

    Walt Disney should not be on this list of people who mishandled their wealth. He was a visionary who took some chances at first and failed – those were business failures because he was so far ahead of his time no one understood him. But he kept trying and moving forward – and he changed the world. Don’t include him on a list like this because it shows disrespect for a true legend.

    • David Hill

      He had 3 consecutive failures after Snow White pushing the genre forward, and we all know the extravagant amounts of money he spent changing the world of tourism through his efforts at Disneyland, but Walt never filed bankruptcy. He had times where he didn’t have a lot of cash on hand, during the making of Snow White is a classic example, but Roy always found a way to pay.

  • John Smith

    Michael should have had a robot wife to go with the robot dogs, he might still have been married.

  • Colleen

    I think most of you are high. My Grandfather was the head of the Republican Party during the 30’s/40’s in my county. My father was a staunch Democrat when becoming an adult working as a deep sea diver. I am a small business owner of 33 yrs. and a faithful INDEPENDENT since 1972. The bottom line is this… BOTH parties have had presidents who served their own parties well. Democrats have done their share of pucking up our country as has the republicans. Regardless of your party affiliation, in the year 2006 the Republicans had full control of Congress and the Presidency. They had the perfect opportunity to correct issues they had with the Democrats and the welfare so many here have referred to that is putting our country into debt.
    What did they do???? They started the first war that was NEVER PAID FOR…. They funneled most of the military $$$$ to Dick Chaney’s Halliburton who happened to be on the brink of bankruptcy with no-bid contracts. Upped the subsidies to the oil industry for explorations and upgrading their refineries and building more of them contrary to conservative claims that the environmentalists were blocking new refineries . (where is that money?) then deregulated anything and everything they could to open the floodgates for Wall Street to rape the market…. Then we have Enron… remember Enron? Well there are more companies like them now due to the deregulation. Then we have Ronald Reagan who gave AMNESTY TO ALL ILLEGALS with the understanding that we fix the problem immediately so this doesn’t happen again…. Well, we all know what happened there don’t we… We need to outlaw the party system… TERM LIMITS. My state, Michigan, has term limits now and was in the recession for over 10 years while most states, primarily southern red states were being subsidized by our tax dollars. For decades, Yankee states have subsidized the poorer states fostering their grow, but giving them a false economy and a false sense of being self supported… NOT… Now, my state is getting their share of their tax $$$ back and we here in Michigan are leading the country rebounding. Mississippi and Alabama at one point while Bush was in office was receiving $1.50+ for every dollar they paid in… I want to see CORPORATE AND DOMESTIC welfare gone other than the truly needy. What we have right now is not “free enterprise”….. certain people from BOTH PARTIES are picking and choosing the winners and losers folks… Both parties have their own agenda and it isn’t YOU NOR ME!! Look beyond the end of your noses please!….

    • Ed

      Agree with you Colleen. Today everyone tries to blame the political party that they’re not in. To me its the person not the party and also much of our problems are us citizens not being vigilent, keeping informed, using good judgement, etc.

    • John Condon

      They sure won’t be making those mistakes again. A slim majority is now approved to push through a revolution. When the Republicans get back in we should be ecstatic.

    • MrDoctorMr

      Don’t get all high and mighty against the south. I pay over 30% in taxes when I make it and over 10% when I spend it. Trust me – plenty of us pay plenty of taxes.

      • Matthew Nichols

        Yes! Plenty of us pay plenty of taxes but enough of us pay little to none.

    • Stuart Perry

      In 2006, what war was started? Afghanistan 2001? Iraq 2003? If the Democrats were against something they should of fought it.

      In 2009, the Democrats held both chambers of Congress and the Presidency. Did they fix the tax problem and the budget. No, they kicked the budget down the road and patted themselves on the back for the ACA(Obamacare) that has just started to go in effect three years later. This lead to the sequestrar and all these quibbles that we have every three months.

  • Sally MJ

    Why is it “fantastic” for anyone to go bankrupt? That is sick. This author takes schadenfreude (taking pleasure at the misfortunes of others) to a disgusting level. Being proud of schadenfreude in oneself is a character flaw.

    • Erika

      There’s no “misfortune.” These bozos were spending hundreds of thousands per month. They didn’t get bankrupt because a loved one without insurance devoured their life’s savings. They got bankrupt because they bought a dozen blingy cars, houses to put them in, and lived like little emperors because they had a freak hit or two and thought it would last forever. No tragedy here–just stupidity and egotism.

    • Quado

      You really think these people care about what you think they should care about? Wow.

    • Remarque

      Very few things are more condescending than using an uncommon word and then defining it in the same sentence. Your audience is not unread, and they know how to use an online dictionary if it’s necessary to do so.

  • Ed

    Don’t care who does it. Still not a great thing to do. You are basically depending on others to bail your ass and not taking care of yourself and your business properly.

  • Sylvie

    How is this information useful for anyone to review? I suggest you check your facts on some of those … especially Michael Jackson

    Going into bankruptcy is not something anyone is proud of.
    So why spread it all over the place.
    There are far worse things that WE all need to accomplish.
    There are crisis, war to prevent, famine, government policies that do not work, waste of taxpayer’s money etc …. LOL I could go on
    One would think the World would be a better place if we all paid attention to what really matters.

  • RexJ

    Hey, Google junkies, check out you very first President. He failed 37 times, including going bankrupt ? times (You check out the ?)

    It isn’t the stigma it used to be. It seems like for many it’s just a trial of life.
    Trouble is, most bankrupts catch out small businesses. That’s people in business who feed their families on what they earn, not just a salary. When they lose to a bankrupt, they lose it off the dinner table, unlike a Corporation, many of which are insured to cover bankruptcy.

    Bankruptcy still, in most cases, is failure to operate under good business practices and due diligence.

    • Quado

      Trial of life? Unfortunately I agree, this behavior IS what people are coming to accept, and often embrace. Same goes for DWI’s and all sorts of other nasty crimes that people used to take much more seriously, and for good reason. Standards, they say? Screw standards — if we all convince one another everything’s forgivable, then no one can be punished, right?

      And people are hard at work drawing distinctions filing for corporate as opposed to “personal” bankruptcy; as if there should be a distinction, that throwing away investors’ money is somehow “better” than losing what your parents gave you to build on.

      As good ol’ Charlie Brown used to say, Good Grief!

  • http://polliwogblog.blogspot.com Leah

    It doesn’t count when the celebrity is broke or bankrupt BEFORE they become a celebrity.

    • Guest

      Sure it does. If you give a homeless bum $20 and the next day it’s gone, he still lost, or spent it. It doesn’t matter what they came from, at one point they had something, and then went back to nothing.

  • Sonny

    i find it hard to believe Michael Jackson went bankrupt considering he owned the neverland ranch until his death so even though he may have had little to no cash which to them is probably a few hundred grand he still had millions in property.

  • Jesse

    You forgot to mention Uncle Sam, very famous and incredibly broke

    • LoveCisco

      And you forgot to mention Uncle Jessie, also very famous and incredibly broke.

    • port land

      Uncle Sam, bankrupt he is. . Still He, like these celebrities, continues to live a life of luxury without any thought of WHO has to pay the piper. As long as we are willing to continue funding them, do you think anything will ever change? The bushel basket needs to be emptied. ALL the apples are rotten! Or, you could just sit back, play on your wii, watch sitcoms, and football and tell yourself ALLs well in the Best damn country in the world, while all the time the bucket has a whole in it.

  • marty

    gee you americans bloody crack me up fighting over bullcrap

    • Quado

      Totally true.

  • Hansi

    @ Pete McMahon…

    Before you start calling people idiots, please do me a favor…
    Please look up the words YOUR and YOU’RE and see how they are used in a sentence.

    Perhaps after that, you’ll know who the idiot is…

    • Nash Davis

      hmm… Good to know the grammar police are hard at it.

    • Jeff Seeman

      Pete, there does seem to be a high correlation between hateful rhetoric and poor spelling and grammar. At times I’ve been tempted to buy a can of red spray paint in order to insert proofreading marks to correct racist graffiti, as though the “artist’s” poor English were a more egregious offense than his vile language. But in the interest of fairness, I don’t think it’s correct to say that using the incorrect form of your and you’re or, one that especially irritates me, whose and who’s, in itself makes the author an idiot. In other words, ignorance does not necessarily equal stupidity, though the two are hardly mutually exclusive, particularly on the Web. Fair’s fair.

  • GH

    Mike Tyson thought the money was food and ate it. He’s an angry, violent sub-human. Before he got into boxing, he mugged people, including old women, for their money. He is garbage, he’s always getting into fights with people, and I hope someone takes him out.

    • Jenn

      i thumbs up just for you saying mike tyson thought money was food and ate it.

    • Brett Delong

      You forgot convicted rapist.

  • Saf

    Funny I don’t see how MJ could ever be bankrupt when he Struck a deal with Sony to give them 50% stake in his publishing company ATV now known as Sony/ATV ,the second largest music publishing company in America , who own the rights to the songs of Elvis, The beatles, beyonce, Jay-Z, 50 Cent, Akon, Lady gaga and on and on – The company is worth 4-5 billion so in that sense MJ always had upto nearly 2 billion in Assets – that’s far from being bankrupt, not only that but he actually owns the rights to all his songs unlike most artists out there so he earned all the revenue for his songs aswell

  • Jake

    How do you “cheat the government” out of your own money? It doesn’t belong to politicians; they just steal it.

  • Gary Garney

    The Tea Baggers are the American Taliban. I’m an old, white, hourly paid worker, and I would vote for Obama again.

    • Donna

      And I’m Golda Meir. Right.

    • ron

      and when the dems give away your money to people sitting on their butts and when you retire you find out there is no money. Like the people in detriot found out hey you are not getting anything tell me how much you like Obama

    • spockmckoy

      stupid is, stupid does……………

    • Crystal Sourceint

      And you would get exactly what you voted for: nothing.

    • Brett Delong

      You forgot to put ‘mildly retarded’ on your list of attributes.

  • EdUktr

    Any yet movie stars in particular seem to have strong opinions about whom we should vote for?

  • george milton

    At his lowest point, Busey was said to have less than $50,000 in assets..

    Now THAT is tragic. Only $50,000.00 OMG thats about five years pay for a Walmart employee.

    • OleSoldier

      Yeah, but many Walmart employees don’t look as creepy as Busey. The motorcycle accident in which he received brain damage may have affected more than just his cognitive skills. A helmet might have helped prevent many of his problems. Tchus!

    • David Hill

      That was Busey’s total assets they mentioned. That doesn’t mean he had $50,000 cash sitting in the bank. A lot of Walmart employees have a net worth of over 50,000 particularly if they are married.

  • Quado

    Now, now “Nat”, look what you’ve gone and done, pissing off all the morons!!! Tsk tsk.

  • Seron

    Funny, most of the celebs were forced into bankruptcy by the government. Ironically, most of them support bigger and bigger government politically.

    • dougt

      its not their taxes that bankrupted then, it just that the irs get to go to the front of the creditor line

  • MrDoctorMr

    Donald Trump – waste of oxygen.

  • jasonwheeler97

    These folks are bankrupt because of foolish spending. I went bankrupt because of my ex wife’s foolish spending and I didn’t have all that much to start with. She has latched on to a new guy’s bank account, so hopefully she doesn’t drain his account as she did mine. Rock on Gold Dust Woman….

  • jk90us

    Some are bankrupt financially. Most are bankrupt morally.

  • jas

    “Busey was said to have less than $50,000 in assets to his name”

    Kinda like most of us?

    • SpiderOne

      no kidding. it doesn’t even say he filed for bankruptcy. just that he didn’t have as much as they thought he should have. his LOW point is $50,000?! that be like winning the lottery. lol

  • ron

    you know the parts that are bad are, the companies that give them all that credit (and are covered by insurance ) do not care because they will filter it down to us so what it means that we are paying twice for these super stars one by them raising the prices of the products and two by use having to pay higher insurance cost to help cover the losses

  • kG

    But Nick Cage went bankrupt with style , bought 23 mansions in Europe! Bought the most expensive Super Man comic in history. Bought Shelby’s by the dozens. All while making ,over the top trash. That is how it is done baby!

  • jiminstlouis

    How could Mike Tyson file bankruptcy with $300 million?

    • dougt

      his managers and such took him for a ride. he lost the mental battle in the first round ko

    • Brett Delong

      Divorce, rape conviction, owned a zoo.

  • timeriderx

    Samuel Clemens was a man who knew “nothing ventures nothing gained” is a way of life! I don’t think it bothered him one way or another! He knew the stakes and gambled accordingly. He was not afraid to take a chance!

    • Jon Weiss

      I invest some of my earnings, but I don borrow to invest. If I can’t afford to lose it I don’t put it into the market. I venture and I occasionally gain, but I don’t bet the farm on a risky investment.

  • spockmckoy

    Gary Busey has done some car commercials locally where I live and he is one scarrrry looking guy on tv anymore……….I wouldn’t go near that car dealership for any reason.

    • dougt

      he has brain damage from an accident. leave the poor guy alone

  • Billy Weems

    Sam Kinison did a great bit about WIllie Nelson and Farm Aid – he said Willie was throwing a party because he thought he owned Texas. No Willie, you owe taxes.

    • Brett Delong

      Loved Sam and his comedy. RIP

  • oldrpger

    How much money do these people need before they are satisfied?

  • cemab4y

    Kevin Bacon was wiped out by bad investments, including giving money to Bernie Madoff.

  • BaldheadedFoo

    most child stars, lottery winners and retired athletes after 5 years are also on this list.

  • gina muery

    Gee I just don’t know what to say…except for…wow these people are either very smart for filing bankruptcy or very stupid for having no idea how to handle money…yikes!

  • Red_Geologist

    Disney went morally bankrupt long before that.

  • ironage

    Putting Cindi Lauper on the list is a bit unfair. She filed for bankruptcy BEFORE she became rich and famous.

  • Brett Delong

    Lots of lunatic leftists who can’t manage their own lives but feel comfortable throwing their support behind an inexperienced socialist community organizer to fix the country.

  • Martha Magee

    THANK you, BC. Walt Disney WAS a visionary. This means that stupid people miss the boat on him. Just saw Saving Mr. Banks. An absolute GEM!

  • Jon Weiss

    As a family man who has some debt and has been had debts off and on throughout my life but also one who cut back on the spending when the debt got too high, and NEVER dumped my misfortunes on others through bankruptcy, and one who’s best earning year never broke the $80,000.00 mark, I have ZERO sympathy for any of these irresponsible and abusive multi-millionaires who ran out on their debts after irresponsible behavior. .

  • AJP

    If your still living in a million dollar home and driving a 100K car, your not broke. The rich don’t go broke,, even when they declare bankruptcy.

  • charliemoney3

    Seems like the IRS is the worst enemy of the Stars.

  • 2947

    Bankruptcy doesn’t mean your broke. Usually, just clears out the old debts. A lot of those folks are back on top like Willie Nelson. Money is over rated. Can’t buy love, happiness, health, friends or anything of real value.

  • Patricia Dungee

    I liked jesse’s answer. Uncle Sam.

  • Risk A Devil

    What is amazing is how many people have done prison time for tax debt. There aren’t many countries in the world, or in world history that imprison people for debt. I find it concerning that the United States is on that short list. As someone who feels they have paid more than their fair share of taxes I have mixed feelings about this. While I want everyone to pay their share lately I have contemplated “What if I could not meet my tax obligations?” I have to say the very idea has made me tentative in the things that I do business wise — is that American – Probably not.

    • ezduzit757

      Most of these people had the ability to pay taxes, but chose not to. If there was no punishment, nobody would pay.

      • Risk A Devil

        I agree, however I still don’t feel Prison is an appropriate punishment for debt in most circumstances. There are plenty of civil remedies available without resorting to Prison.

  • Loye Carmoney

    Why do these people think they do not have to pay taxes like the rest of us. Why do they think they are above the law on any level. But they do and idiots keep putting them on a pedestal. One God folks He is not on earth but in Heaven.

  • port land

    I think we should feel extremely sorry for all of them. They certainly have my sympathy. The poor things. It must be extremely difficult to continue jetting around the world to social functions, plus the hardship of living in the lap of luxury under the hammer of a tax evasive veil of bankruptcy. There must be someway we can help them? Isn’t there some kind of charitable tax exempt non profit where we could make a tax deductible
    contribution?

  • j s

    No bankruptcies filed for giving to the less fortunate and charities, though. It’s all about ME!

  • burkosc

    Never heard of Chris Tucker !

  • Vicki V

    Interesting that several on this list have been contestants on The Donald’s “Apprentice.” Birds of a feather…

  • TomGI

    Who would follow the mentoring of Trump? He uses corporate bankruptcy like a tool.

    • Spyderman

      Trump worked within the rules of the IRS. Any “tools” were none other than those that the IRS provided in their tax rules.

      • MACscr

        Just because something is legal doesn’t mean its ethical or something that should be admired.

        • lloydc1234

          You’ve got it.

  • ron

    the part that gets me made is when (not just the movie stars)they go bankrupt we all have to pay the bill in higher prices. and they get to live the high life for a few years and then they just get rid of the debt. This is a law they should work on that you can not woe more then you earn in a year (a house would be the exception but even that should have something to do with what you make

    • Spyderman

      “We all have to pay the bill in higher prices.” Huh? How so?

      • ron

        ok take sears someone buys a tv 600 dollars with sears credit card. they go bankrupt now sears will have raise the rate on the next tv to make up the loss of the 600 dollars. Or they will have to pay more insurance to protect cover the loss. Now look at these people we are talking millions of dollars no company is not going have a plan to cover that it is in their prices . I was looking at stats and over a million people file for bankruptcy in 2013. I do not know of a company that will eat that. they are going to pass it on

  • stephen28273

    o well, at least they had a good ride.

    • ed-words

      No, religion has the IRS cowed.

  • Spyderman

    Sad, but too often true. You MUST file yearly returns with the IRS; it is illegal not to. Such a shame that these personalities did not rely on the advice of a good tax attorney and tax CPA to advise them against stupid schemes that would rob them of their earnings and tell them not to spend more than they made.

    • TheOtherRosie

      Celebrities generally have to file quarterly. Ron White says, “I thought that meant every 25 years.” Duh…lol

  • PhillipNagle

    It was a little unfair to add Walt Disney to this list as his bankruptcy was before he had achieved stardom.

    • Jean Heath

      Same with Cindy Lauper – perhaps their early difficulties actually motivated them even more. As to those who just squandered their blessings or the one’s who felt above the law by evading taxes (imperfect system but ..), I have 0 sympathy.

  • Rosewould

    Funny that a government will prosecute and jail you for not living within your means when same government does just that.

    • Quinton Aiken

      Show me a 100% efficient cycle of ANYTHING, then we can talk about the government living outside it’s means. There are no entities or processes where waste does not happen somewhere along the line.

  • Steve Clapper

    walk a mile in their shoes….till you do you can not judge.

  • ed-words

    Now if they had become preachers when trouble came . . .

  • ed-words

    Twain got one thing right—“Faith is believin’ what you know ain’t so.”

    • Allan_Smithee

      Twain also went bankrupt, was rescued by the personal intervention of H.H.Rogers of Standard Oil fame.

      • MrLightRail

        And Twain worked his butt off to pay everyone back, even though he did not have to..

  • TheOtherRosie

    When people get rich, whether is earned over a long period of time, or like say winning the lottery, people go nuts. No matter how much money you have, you should not tell anyone, except of course the IRS.

    • Norvaal

      I’ve always said that if I ever come into some serious money, I wouldn’t want the world to know. All of a sudden, you have at your doorstep all kinds of solicitors, relatives you didn’t know you had, and complete strangers who come through your house to work, “tour the house” while you are away, or to crash the lavish parties you throw. Not my cup of tea! I would rather make money quietly with few the wiser.

  • Mike TheVet

    Actually, the Federal Reserve, which is not under the discretion of the US Federal Government, controls Monetary Policy.

  • Makka2000

    A number of these people are yet more proof that being able to pretend you are someone else for a living, or be able to sing, doesn’t mean you are not as dumb as a rock.
    Take away that talent and most of these would be cleaning up tables in the local diner

  • bob

    …thats why I don’t worship celebrities, and only praise the work they do if I like it. They could live off the same income their fans do, but fans throw money at them because some law says so

  • Misunderstood

    Surely they meant that Trump had great hair (Tongue in Cheek). Right? Really, please someone tell me they were kidding! I need to know!