Broke

Former NBA superstar Allen Iverson earned $154 million from his Sixers salary alone during his career. Now, he owes more than he can pay. How did it happen, and what lessons can his fiscal foul-ups teach to the rest of us. The answers are distressingly simple.

Gary Busey joined the ranks of the insolvent last week, filing for bankruptcy. But he's by no means unique: There's a whole subset of celebrities practically defined by their inability to live within their enormous means. Check out our gallery of fiscally fallen stars.

We learned last week that former NFL star Chris McAlister, a three-time Pro Bowler, is broke and living with his parents after just a year out of the league. But he's hardly the first sports icon to blow through the cash in a flash. In his honor, here are our 10 favorite professional asset-annihilating athletes.

Usually, printing your own money earns a guy nothing more than a one-way trip to the big house, however, self-described "severely under-employed" Louisiana-based artist Bob Snead is quickly gaining attention by doing just that with a new line of Is Not Broke Recession Proof Wallets. After touring...

Being 50 and broke isn't so unusual these days. There are a lot of Boomers whose savings was devastated by the decline in the stock market; whose jobs went out from under them; and who leveraged themselves to the extent that they lost their house or even had to declare bankruptcy. If that's you,...

Business is booming for companies that reap profits from the growing number of Americans with their backs to the financial wall. Former New York Times reporter Gary Rivlin's new book Broke, USA dives into the world of pawnshops, payday lenders and the rest of the "poverty business."