Quote:
Originally Posted by freddymo
So without a morsel of first-hand knowledge, you are able to deduce from a journalist's representations of events from one side of the argument that it's a Ponzi Scheme? I don't know what or what, not Zayat did and I am SURE he is no Saint, but have a heart with the seems like a Ponzi Scheme stuff.
Maybe the guy let his son pick out millions of dollars of crap, maybe he foolishly borrowed money to buy of all things(horses)? maybe he was never that rich to play at the level he was?
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what?
I clearly acknowledged that the whole story was not out. But 10 years ago he went through a similar situation with 5/3rd bank where he defaulted on multi-million dollar loans. Guy uses his horses and their breeding rights as collateral for yet another loan and then some how uses those same assets to sell breeding rights, pockets the money and can't meet his loan obligations?
have a heart? are you serious? Why would i lose one "morsel" of sleep for someone who "let his son pick out millions of dollars of crap"? Bottom line it's a bad business for him and the sport.
-bt-