Here is an interesting story.
Glen Pizzolorusso got his start in the mortgage industry in his father’s company, at age 14. Still in his 20s, by 2007 he’d worked his way up to running his own sales team, making $100,000 a month and helping to inflate the bubble that became the current global economic crisis. When that bubble burst…..
I see a Porsche convertible drive by, sky blue, tan leather interior, gorgeous, and immediately a feeling of envy comes over me. I think that’s a natural feeling, but I can’t help wondering what is the motivation behind the purchase of such an expensive piece of machinery. Is it a burning desire to own the pinnacle of German automobile engineering? Is it a love for speed, wind blowing in your face, freed from the perils of Corporate America? Or is it a symbol of success, a long career, countless promotions, 60-hour workweeks, a remedy for the stress that accompanies such dedication?
For me, it was all of the above. After seven long years of 60+ hours a week in the subprime mortgage industry, I had achieved what I had set out to accomplish: success.
I was a success, with a seven-figure income, a healthy portfolio of real estate, a gorgeous wife, fancy cars, a Madison Avenue wardrobe. I was the envy of others, my yellow 911 a testament to my success. You see, I grew up in an affluent community. Our neighbors were doctors and lawyers with kids who went to private schools. Money and status defined success for me, and by my definition, success was all around. Now I was worthy to take part in its communion.
Then I lost everything. I became a victim of the financial mess I had helped to create. My houses, gone. Cars, gone. Bank account, gone. Success, gone. How could this happen? This wasn’t the story you see on TV. This wasn’t supposed to happen. The success I had sacrificed so much of who I was to achieve simply disappeared. In the weeks and months following the financial crash I went from highly employable to another “subprime” guy looking for work. Many companies specified not to apply if you had “subprime” experience.
Read more: NPR