How Do Some Highly Paid Athletes Go Bankrupt?

"Former All-Star point guard Allen Iverson of the Philadelphia 76ers, the story goes, hated luggage so much he used to buy new outfits every time his team went on a road trip. Needless to say, he's had some financial troubles."

"And he's not alone among pro athletes in financial profligacy. According to a 2009 Sports Illustrated story, as many as 60 percent of U.S. professional basketball players faced bankruptcy or serious financial hardships within just a few years of retiring."

"The leagues have stepped up financial literacy education and other programs aimed at stemming the embarrassing tide of financial ruin, but what if there were a way to figure out which pro athletes were most likely to go bankrupt, so you could try to prevent it from happening in the first place?"