Homeless Man Lost Millions Now Lives in a Oakland Tent City

[jaded]

Derrick is a survivor. After losing millions of dollars in the Great Recession of 2008, Derrick's life then snowballed to living in a tent homeless in Oakland, California.

Over time, other homeless people started camping around Derrick, and a small homeless encampment grew into a tent city.

[GhostofDempsey]

It's a sad story worsening around the U.S. More and more homeless, and many of those are invisible. They live in their cars and try to function day to day while holding a job or living of social security.

[jaded]

Wall Street has ruined so many lives. Imagine thinking you have millions of dollars in your bank and waking up one day and the bank and your money are gone, and you're homeless?

I just watch the Netflix Madoff documentary the other day. Some of the old investors who were able to pull out their money from the Ponzi long before the crash, (in some cases it was the grandchildren of those investors) lost their entire net worth because they had to return all the money to the Madoff estate indemnity fund and became homeless.

Meanwhile, the lawyer billed the estate for a billion dollars in legal fees and got rich, leaving barely anything left to award the smaller investors. No one from the SEC was ever held accountable for lack of due diligence. So much of the financial industry and people related to it, lawyers and government, are criminals who destroy lives every day.

[Uncle SneakyTouch]

Man those stories are crazy. There was one about some guy ended up cheating cause he caught his girl sleeping with his boss. He got fired and she kicked him out.

Also there was one where some guy is somewhat comfortable living in the streets and once he decides to go home and start working it's there waiting for him lol

[Sweet Pea 5O]

You see some of these "tent towns" over in Emeryville/Oakland, and it will make your jaw drop.

It's fucked up, because there are people that just couldn't get back on track, slipped up, and it becomes a vicious dog chasing tail type of cycle.

I have empathy for people like that.

[4truth]

It’s weird I know but I fantasize sometimes about chucking everything, buying an old van and moving to slab city. Couple jugs of wine, some cheap pot and you got yourself a modern day Steinbeck novel.

[Sweet Pea 5O]

It’s weird I know but I fantasize sometimes about chucking everything, buying an old van and moving to slab city. Couple jugs of wine, some cheap pot and you got yourself a modern day Steinbeck novel.

I hear you.

But it's not as great as it is romanticized.

You think you're getting away from it all, but, surprise, you got neighbors!

And they are going to try to steal everything under the sun.

It isn't your's anymore. Something you busted your ass over. Something that you value.

[FinitoxDinamita]

It’s weird I know but I fantasize sometimes about chucking everything, buying an old van and moving to slab city. Couple jugs of wine, some cheap pot and you got yourself a modern day Steinbeck novel.

I day dream about it often. Getting a Diesel Sprinter and living the nomad life style for months at a time. I still need a home to come home to so Id keep the house but id love to disappear. But then I wake up to realize that there are three young kids and wife to look out for so I cant lol.

[4truth]

I day dream about it often. Getting a Diesel Sprinter and living the nomad life style for months at a time. I still need a home to come home to so Id keep the house but id love to disappear. But then I wake up to realize that there are three young kids and wife to look out for so I cant lol.

Yeah, me too. I got a wife, two young kids, a mortgage and a father in law who would have a contract out on my life inside of a month.

[BodyBagz]

At the very least, his bank accounts would have been covered for 250k per.
He could have liquidated his possessions (boats, homes) even at a loss.

Hard to fathom losing ''everything'' at once.