<p>Now we are checking out the writers and reporters of our news! This could be interesting. Those who are such jackals with those who catch their eyes under the same scrutiny. I’ll bet their histories will make the politicians’ stunts look like bedtime stories. </p>
<p>From what I read in the article, I got the distinct impression that the wife’s out of control spending was a problem. This is the case with many adults, sadly. My neighbor was on the verge of losing it all when her H was out of a job, yet she insisted on her organic foods, supplements, “good quality” clothes, hair dresser and other things that really inflated their budget. I don’t think they could cover all costs on her salary alone, but it would have helped a lot if they had been able to cut waaay back on household expenses, but to her that was not an option. </p>
<p>I am not naturally frugal, so I can understand the mentality. When I was in college and for some years thereafter, I had very little extra money and absolutely no recourse to funds. So if I ran out, I was going to have to way back home with mom and dad, something I really did not want to do. But I also did not have the credit lines and cards that a lot of young people these days have. Until I worked a couple of years my credit line was non existant and even for years thereafter it was limited. So I could not run up much debt even if I wanted to do so. I think it is easier budget when you can see how your money has to be divvied up each month. I find that I do better when I use the old envelope method even now, as it helps me visualize what is coming in and what HAS to go out. What is left is discretionary, and that can mean no grocery shopping until the next pay check when you are cutting things tight with mandatory envelopes. Both of my boys ran into trouble with their overdraft protection credit lines and their ATM cards even though they were good about money while in college. It’s the outside discretionary spending that they could not monitor and manage.</p>
<p>LNM, it may be considered a blog, so I can’t link. But if you google “atlantic barreiro bankruptcy,” you’ll find an excellent article on the subject.</p>
<p>Kayf, only my oldest has a car which he bought himself but has not been able to keep it. They are looking for places near public transportation. The problem is finding a safe, affordable place. They will not have cars. Parking would be an issue as well as other car costs. </p>
<p>When they were here at home, transportation expenses were a big issue. Metro North stops running too early for them and a monthly card too pricey. The metro card at under $100 a month was a month, but taking the trains to where we live is very expensive. Also the walk from the train station is about 2 miles of treacherous nonpaths. They have been doing this for years, however, it’s just a catch as catch can life which they may just have to keep doing until they get other options. They are looking for college listings of room and apartment shares, and vicinity to transportation is a big issue.</p>
<p>I was interested in this bankruptcy because Andrews wrote a book about his financial situation, in which he painted the evil banks as the villians. According to him, he and his wife were “enticed” into borrowing more than they could afford.</p>
<p>I’m not excusing the banks, but Andrews and his wife are to blame in this situation. They are educated and should have known better. They didn’t have some kind of life catastrophe such as a medical emergency or a job loss. They just spent way, way too much money, and now they’re whining it isn’t their fault. He has the temerity to pretend that he’s just like anyone else. Sure… anyone else whose wife owed over $200,000 in back taxes in her first bankruptcy.</p>
<p>The Times Magazine could have done a collection of stories of people who really were taken advantage of by banks and mortgage brokers. Instead they chose to give free advertising to one of their own. I am certain there were people with minimal education who didnt understand loan documents, there were laid off auto workers, there were working class people in New York who gave up rent stabilized apartments – all of these are important stories. </p>
<p>HIs wife may claim the first BK was the result of her husband’s business and that as a SAHM she did not control the money. The second BK she filed when she was on unemployment, with minimal income, and neglected to disclose her current husband’s income.</p>
<p>I, for one, am wondering if this deluded middle-aged man is not merely the latest in a series of men conned by this woman…Certainly the Times has not covered itself with glory on this one.</p>
<p>That is outrageous that Patty had two prior personal bankruptcies, and that information didn’t make it into the article (and assuming the book; I didn’t read it). The whole thing is so self-serving. I can’t believe he has the nerve to show up on all these talk shows and give only half of the story.</p>
<p>I wish the Times would enable comments on the web version of his piece. He would get an earful! I hope he googles himself and reads what people are saying here.</p>
<p>And also, why wouldn’t Andrews realize that someone would uncover the bankruptcies? He’s a financial reporter. He knows that stuff is public record. Odd.</p>
<p>I can’t understand why anyone should be interested in this couple’s story. There is absolutely nothing redeeming in their story, no sympathy, nothing. I just take away from it that they are both really unpleasantly self involved, entitled people. They are not even telegenic, if anything, the opposite. IckIckIck.</p>
<p>Treetop – absolutely people should make credit reports part of courtship, especially second marriages with kids involved. Its one thing to screw up your own life, its another to take the kids down with you</p>
<p>Lurkness – who knows what she told him? Especially teh first BK?</p>
<p>Good for McArdle for outing them. All of us knew there was more to this story just from reading the excerpt. </p>
<p>If you Google them Patty seems to be a graduate of USC who worked in advertising. If she was on unemployment the second time she filed she had to have been working fairly recently. Can’t find a full bio on him.</p>
<p>I would have to agree he’s just another guy blinded by “love”. Probably not the enduring type in this case. He may or may not have known about or thought through her money issues, but I’ll bet they would not have stopped him if he had. You know the story…guy in bad marriage rekindles an old love, feels 20 years younger and has a new lease on life. For 15 minutes anyway. He should have just bought a red sportscar!</p>
<p>'Seriously - should people make credit reports a part of courtship?"</p>
<p>Heck yes! A love affair is a love affair…a marriage is a corporation with property held in common. Don’t put an irresponsible spendthrift in charge of your money, or be prepared to live with the consequences.</p>
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Lurkness – who knows what she told him? Especially teh first BK?
[quote]
</p>
<p>Kayf, the second bankruptcy occurred when she was married to Andrews, apparently. So Andrews must have known about that one, at least. I am amazed that he chose to try to hide the bankruptcy by not mentioning it in his book and article, knowing that other people could easily dig up that info if they cared to look.</p>
<p>Lurkness, I was only commenting that I doubt she told him about the first BK. But who knows. These two people sound like the type that it always someone elses fault.</p>
<p>Hmom, she might have filed BK after she one job in Maryland.</p>
<p>mousegray, I’m interested in this story because I’m amazed by this horrible couple’s chutzpah. He writes a book about how he and his wife are victims of this financial crisis, just caught up in something beyond their control, “enticed,” like anyone could have been. Poor little them.</p>
<p>Now we find out they are indeed caught up in something beyond their control: Her spending is out of control and has been for years, and apparently his gonads are out of control so he left his wife and family for her (for luhhhv). </p>
<p>He wanted to put a human face on the foreclosure crisis. Instead, the two of them make debtor’s prisons sound attractive.</p>