Hittin' it BIG then BANKRUPT!

What does Mc Hammer, TLC, and Toni Braxton all have in common? They ALL once were sitting on top of the charts, with smash singles and ballads! Lets take a stroll down memory lane!


Mc Hammer: Cant Touch This

TLC- Waterfalls

Toni Braxton- Unbreak My Heart

Now I cant talk much upon Mc Hammer because I didnt  follow him on the height of his career. But as far as Ms. Braxton, and TLC they both are part of the highlights of the 90's music Genre.  Hit after hit, Toni Braxtons catalogue includes: "Your Making Me High", "Breathe Again", "Another Sad Love Song",  and "He Wasnt Man Enough For Me".  TLC catalogue of hits includes "Waterfalls, "Red Light Special", "No Scrubs", "Unpretty" and "Baby Baby Baby" 

Below is a video of TLC at the 96' Grammys. During the interview the subject of them and their bankruptcy was brought up. Below the video are quotes made by lefteye. 

                             

""We're not gonna sugar-coat anything any more, we have been quiet long enough.... can I get an Amen?"

"AMEN!!"

"I'll put it to you this way, we are the biggest selling female group ever. We have worked very hard."

"VERY HARD"

"We have been in this business for five years."

"FIVE YEARS"

"And we are buh-roke as broke can be."

This video starting at 5:10 Left eye explains how a group can sell TEN MILLION records and can still be broke! 


"This is how a group can sell 10 million records and be broke, and everybody get ready to do your math. There are 100 points on an album, TLC has 7, every point is worth 8 cents. Alright, 7 times 8 is 56 cents, that means every time an album gets sold, TLC gets 56 cents. Sell 10 million records, $5.6 million, sounds like a lot of money. That's the addition, now here comes the subtraction. Well its not a lot of money when the record company has spent 3 million dollars to record your album.. we pay recording cost, video cost. Now we have 2.6 million dollars left. Well guess what? When you have that much money your in about the 48, 49 tax bracket. so that immediately gets deducted to 1.3 million dollars. THEN you split the rest three ways, thats about 300 thousand dollars, okay? 300 thousand dollars. I CAN BUY A NICE HOUSE WITH THAT, BUT WHAT AM I GONNA PAY MY BILLS WITH?" --Lisa "Left Eye Lopes"

You can say that TLC filing for bankruptcy is a legitimate excuse for filing. The girls were under an unfair contract with Pebbles (their manager at the time). But lets fast forward to 2011. The T out of TLC  T-Boz (Tionne Watkins)  has filed for bankruptcy yet again. 

According to TMZ

According to docs filed last month in U.S. Bankruptcy Court, T-Boz (real name Tionne Watkins) found herself owing creditors $768,642.99 -- mostly from mortgages on her $1.2 million house.

The docs don't paint a picture of exorbitant spending -- she takes in $11,700/month in income, with monthly expenses totaling $8,821.

TLC had ten top ten singles, four number one singles, four multi-platinum albums, and four Grammy Awards ... but according to the docs, T-Boz only pulls in $1,200/month in royalties.

Ouch! Sorry T-boz... also Toni Braxton has filed twice also, in the 90s, and also within the few years that has passed.  Im not the one to judge and I don't know how these artist are spending their money. But it looks like Artist should watch how they spend their money. For example, cut down on the cost of their lavish life styles. Do you really need more than one mansion? T-boz has been out of the spotlight music wise for about ten years. So since thats the case, it would be smart to WATCH how you spend!