A fool and his money are soon parted. I always laugh at these shady deals which professional athletes sign onto in order to get richer than they are. Buyer beware. If a deal appears to be too good to be true, it usually is. Watch American Greed on CNBC before investing in anything.
Seems to me (and the judge, apparently) that if BofA used their brand, credibility, and influence to steer Freeney to these two scamming scumbags who already had a bad track record, then BofA has some liability for their illicit conduct and his losses. I doubt very much that BofA’s advertising represents them as a get-rich-quick, “pie in the sky” kind of operation.
Dave, you are right. Every year, we see athletes taken to the cleaners on some investment deal that turns sour. Many end up washing cars after retirement or getting into trouble. Freeny is hanging on with the Cardinals as a reserve defensive end, but his days are numbered and then he will be on his own.
Dave, If I recall back in the dark days of the financial crisis, Bank of America was one of those bailed out due to their shady dealings in the sub prime mortgage mess. Add the shady agents to the mix and it is a recipe for financial disaster. The NFL could do the new players drafted a huge favor and thoroughly vette agents and financial institutions for track record and only approve the proven winners.
…but then the NFL would be liable if those agents/institutions swindled the players. No way would the NFL be willing to open up such a big can of potential lawsuits.
I’m not sure things end well for BoA on this. They appear to be guilty of keeping bad company. A jury may not look on that favorably. That combined with the mentality of “it’s the big bank’s money” and BoA may end up paying a lot of money. Better settle this one.
A fool and his money are soon parted. I always laugh at these shady deals which professional athletes sign onto in order to get richer than they are. Buyer beware. If a deal appears to be too good to be true, it usually is. Watch American Greed on CNBC before investing in anything.
Seems to me (and the judge, apparently) that if BofA used their brand, credibility, and influence to steer Freeney to these two scamming scumbags who already had a bad track record, then BofA has some liability for their illicit conduct and his losses. I doubt very much that BofA’s advertising represents them as a get-rich-quick, “pie in the sky” kind of operation.
Dave, you are right. Every year, we see athletes taken to the cleaners on some investment deal that turns sour. Many end up washing cars after retirement or getting into trouble. Freeny is hanging on with the Cardinals as a reserve defensive end, but his days are numbered and then he will be on his own.
Dave, If I recall back in the dark days of the financial crisis, Bank of America was one of those bailed out due to their shady dealings in the sub prime mortgage mess. Add the shady agents to the mix and it is a recipe for financial disaster. The NFL could do the new players drafted a huge favor and thoroughly vette agents and financial institutions for track record and only approve the proven winners.
…but then the NFL would be liable if those agents/institutions swindled the players. No way would the NFL be willing to open up such a big can of potential lawsuits.
BOFA, enough said.
I’m not sure things end well for BoA on this. They appear to be guilty of keeping bad company. A jury may not look on that favorably. That combined with the mentality of “it’s the big bank’s money” and BoA may end up paying a lot of money. Better settle this one.