Comments on: What Does a Member of Congress and a former Major League Baseball Player Have in Common? http://irvinerealestateblogger.com/2008/05/27/what-does-a-member-of-congress-and-a-former-major-league-baseball-player-have-in-common/ Sat, 06 Mar 2010 14:51:33 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Sadie Collins http://irvinerealestateblogger.com/2008/05/27/what-does-a-member-of-congress-and-a-former-major-league-baseball-player-have-in-common/comment-page-1/#comment-44 Sadie Collins Sat, 31 May 2008 04:05:12 +0000 http://irvinerealestateblogger.com/2008/05/27/what-does-a-member-of-congress-and-a-former-major-league-baseball-player-have-in-common/#comment-44 Seems to me that these are two professions who need to have a firm grasp on the nature of their finances. The members of the governing bodies of state and federal legislatures are presumed to be fiscally responsible because they are allocating the dollars we pay in hard-earned federal and state taxes. Professional athletes in baseball, football, basketball, etc. make a LOT of money. Even if they don't manage their own finances, they probably have a CPA on their staff of professional advisors. "Just walking away" doesn't sound like advice a CPA would give to a client. Maybe Laura and Jose aren't worried about their FICO score/credit rating. Maybe they have no intention of buying another home. Maybe they can get quality loans in spite of their financial peccadillos, because of who they are. But for me... I need a good FICO score to get a low-cost loan on a home or a new car. I don't have the luxury of being a celebrity that can break the rules. Can we make the rules the same for everyone? Seems to me that these are two professions who need to have a firm grasp on the nature of their finances.

The members of the governing bodies of state and federal legislatures are presumed to be fiscally responsible because they are allocating the dollars we pay in hard-earned federal and state taxes.

Professional athletes in baseball, football, basketball, etc. make a LOT of money. Even if they don’t manage their own finances, they probably have a CPA on their staff of professional advisors.

“Just walking away” doesn’t sound like advice a CPA would give to a client. Maybe Laura and Jose aren’t worried about their FICO score/credit rating. Maybe they have no intention of buying another home. Maybe they can get quality loans in spite of their financial peccadillos, because of who they are.

But for me… I need a good FICO score to get a low-cost loan on a home or a new car. I don’t have the luxury of being a celebrity that can break the rules.

Can we make the rules the same for everyone?

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