Miami Beach police reserve officer, Shaquille O’Neal M.B.A., having tired of such extracurriculars as making rap albums and movies, is venturing into good-cause, for-profit entrepreneurship. Shaq will personally refinance mortgages for Floridians facing foreclosure as part of a broader move into real estate development. Says he:
“I want to come in not to kick them out, but to work with them and save them so they can stay in their homes.”
Good going. I wonder whether individuals of more modest means could coordinate similar efforts; for example, small-scale syndicated lending models (like Prosper.com) for private refinancing or bridge-loans? Each additional means of helping people is a victory; and methods that reduce the need for government bail-outs and bankruptcy court proceedings are among the best possible for everybody.