Rich People Go Broke, Too

Posted by Joseph Coletti at 4:33 PM

The New York Times finds that even the very wealthy sometimes lose everything. Instead of pondering the larger point of income mobility in a capitalist system, as the paper would likely do if the story were about poor people going bankrupt, the writer just gives examples of people who have come close to or gone into bankruptcy with not a statistic to be found. The article's title explains all you need to know about the kind of Schadenfreude at work here.

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