again, this time for telling a bankruptcy judge that he has lined up a construction job for when he gets out of prison. Apparently Vick was once the NFL's highest-paid player but his finances fell into disarray because of "lavish spending and poor investments."
Now lavish spending I can understand but poor investments? I found out that Vick signed a ten-year contract for $130 million. NFL contracts are a little tricky but let's assume for the sake of argument that he was paid $13 million a year. If he invested it in risk-free Treasuries at 3% interest a year (is that assumption too high?) he'd take down $390,000 a year before taxes and never touch the principal. Shouldn't 390K a year be enough for anyone to live on? I'll bet that's more than his father ever made. Wouldn't you think that he'd be pretty much insulated from ever declaring bankruptcy?
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