Lake bankrupty

[phystech]

http://www.drf.com/news/article/102254.html

"Cause I'm the taxman, yeah I'm the taxmaaaannnn...."

This is exactly why I am a freak about transparancy in financial reporting as it relates to horse ownership/partnerships. I want to trust all of my business partners but the best way for me to remain trustful is to show me the money trail. In the partnerships I manage, I scan bills and send them to my partners. They see where each dime is spent. I scan the bank statements so they can see every bill is paid. Any manager of a stable that doesn't want to do a full accounting on a monthly basis shouldn't be a manager.

I had heard of Lake's tax problems 3 or 4 months ago. I didn't know the reason until today.

I feel for the guy - he trusted a friend that swindled him. That's the lowest of the lows.

[SCUDSBROTHER]

I just think people are a lil amazed that someone who has constantly shoved chalk down our throats doesn't have enough money to pay his bills.

[freddymo]

Byk have a heart please

[blackthroatedwind]

I thought horse racing thoroughly disproved the entire notion of Karma.

[Suffolk Shippers]

Fact of the matter is, none of us, if we were in the same shoes, would want our dirty laundry out for co-workers, friends, and others to read and judge.

I don't know Scott Lake, and I doubt anyone out here, or who reads Bloodhorse has a knowledge of his finances. Which is exactly why, no one should be passing judgment. It's just a case of throwing stones. If you are out there and you don't have a friend, relative etc who has been affected by the economic situation, or you yourself have not, you're pretty lucky.

Fact is, this happens to plenty of people, and their names aren't put in the papers, or on blogs, or websites for others to pass judgment on. Lake should have been afforded similar privacy. If you don't think so, then I guess you don't have an issue that if the same circumstances afflicted you, your name be dragged out for judgment, either.

[Bigsmc]

Originally Posted by Suffolk Shippers

Fact of the matter is, none of us, if we were in the same shoes, would want our dirty laundry out for co-workers, friends, and others to read and judge.

I don't know Scott Lake, and I doubt anyone out here, or who reads Bloodhorse has a knowledge of his finances. Which is exactly why, no one should be passing judgment. It's just a case of throwing stones. If you are out there and you don't have a friend, relative etc who has been affected by the economic situation, or you yourself have not, you're pretty lucky.

Fact is, this happens to plenty of people, and their names aren't put in the papers, or on blogs, or websites for others to pass judgment on. Lake should have been afforded similar privacy. If you don't think so, then I guess you don't have an issue that if the same circumstances afflicted you, your name be dragged out for judgment, either.

No. Those people aren't in the "papers" every day. Lake was. He is one of the biggest personalities in the game, how can you not report his filing?

It has nothing to do with my friends or family having financial difficulties. My family and friends have not been in the BH, TT and DRF non stop for the past 10+ years. If they had been, then I would expect those publications to report it.

[Cannon Shell]

Originally Posted by Bigsmc

No. Those people aren't in the "papers" every day. Lake was. He is one of the biggest personalities in the game, how can you not report his filing?

It has nothing to do with my friends or family having financial difficulties. My family and friends have not been in the BH, TT and DRF non stop for the past 10+ years. If they had been, then I would expect those publications to report it.

Agreed. Once you achieve a certain "celebrity" of sorts you become a public figure. Public figures have their laundry aired, good and bad.

[Suffolk Shippers]

Originally Posted by Bigsmc

No. Those people aren't in the "papers" every day. Lake was. He is one of the biggest personalities in the game, how can you not report his filing?

It has nothing to do with my friends or family having financial difficulties. My family and friends have not been in the BH, TT and DRF non stop for the past 10+ years. If they had been, then I would expect those publications to report it.

Agree to disagree. This is something you let someone get out there on their own terms, not sideswipe them for comment. I don't care if people have graced the pages of magazines, papers etc. it has no bearing on if they should again for this reason.

Somethings are just not the business of the world at large right away. Making oneself a public figure does not give the public the right to any and all information about said person.

[The Indomitable DrugS]

Originally Posted by Suffolk Shippers

Somethings are just not the business of the world at large right away. Making oneself a public figure does not give the public the right to any and all information about said person.

Yeah - the Bloodhorse or DRF didn't publish anything when his wife got arrested for attacking him with a baseball bat last year.

It's a shame he didn't marry Albert Pujols.

[pointman]

Originally Posted by Suffolk Shippers

Agree to disagree. This is something you let someone get out there on their own terms, not sideswipe them for comment. I don't care if people have graced the pages of magazines, papers etc. it has no bearing on if they should again for this reason.

Somethings are just not the business of the world at large right away. Making oneself a public figure does not give the public the right to any and all information about said person.

Bancruptcy is public information, anyone filing knows that going into it. Lake had to have known that this would be in the media. I fail to understand why he didn't offer that explanation right away instead of taking the type of reaction that indicates something to hide.

[Danzig]

Originally Posted by phystech

http://www.drf.com/news/article/102254.html

"Cause I'm the taxman, yeah I'm the taxmaaaannnn...."

This is exactly why I am a freak about transparancy in financial reporting as it relates to horse ownership/partnerships. I want to trust all of my business partners but the best way for me to remain trustful is to show me the money trail. In the partnerships I manage, I scan bills and send them to my partners. They see where each dime is spent. I scan the bank statements so they can see every bill is paid. Any manager of a stable that doesn't want to do a full accounting on a monthly basis shouldn't be a manager.

I had heard of Lake's tax problems 3 or 4 months ago. I didn't know the reason until today.

I feel for the guy - he trusted a friend that swindled him. That's the lowest of the lows.

a guy who takes you for that kind of money is no friend. i can't believe lake is still up in the air about filing charges on the guy.