Barry Greenstein Busto?

[SpewArtist]

Couple days old, but I didn't see a post about it here yet.

From 2p2:

http://forumserver.twoplustwo.com/29...-bank-1279871/

Pokerstars Pro Barry Greenstein's house foreclosed nearly 200k owed to bank.

While searching for REO property in RPV I came across this home formerly owned by the popular Barryg1. With records showing a default around 200k it seems that Barry was hit especially hard by black friday. It appears that Barry hasn't made a mortgage payment in over a year on the 12,000 sq ft home which can be seen on cardplayer's high stakes living. I'm curious why Barry didn't attempt a short sale given his philosophy on always paying back loans. I hope this isn't a indicator of deeper financial troubles because Barry seems like a genuinely great person and is by far my favorite player.

[unchainedghost]

A degen Jew is a bad combo to have to live your life as

[simpdog]

It's sad that Barry is totally busto, yet Lederer gets off by giving up 8-10 mill and probably has tons hidden away.

Someone should steal from Lederer and give back to Barry.

[BeerAndPoker]

Shouldn't he hit up Joe for a loan of some of that dirty UB money or is it the cock pics that are paying Joe these days?

[WillieMcFML]

barry has been busto for awhile

i doubt he's had a winning year in the last five

[SetofKs]

barry has been busto for awhile

i doubt he's had a winning year in the last five

This. Hes been broke for a while and I dont think its been a very well kept secret. Hell, if you watch that newer poker documentary that is kind of about black friday, they talk to pros about how many times they've been busto and everybody talks about how they've been busto dozens of times, when it gets to Greenstein he even says "I'm broke right now hahah" like hes half joking. Hes not joking.

That being said his best friend is phil ivey, so i think he'll always be okay.

[Belly Buster]

Explains why he wasn't in a hurry to pay back the $400k he owed full tilt.

http://pokerfraudalert.com/forum/ent...8Greenstein%29

[TheXFactor]

barry has been busto for awhile

i doubt he's had a winning year in the last five

This. Hes been broke for a while and I dont think its been a very well kept secret. Hell, if you watch that newer poker documentary that is kind of about black friday, they talk to pros about how many times they've been busto and everybody talks about how they've been busto dozens of times, when it gets to Greenstein he even says "I'm broke right now hahah" like hes half joking. Hes not joking.

That being said his best friend is phil ivey, so i think he'll always be okay.

Then why didn't Phil Ivey help him out so he wouldn't lose his home?

Barry Greenstein went broke because he couldn't adapt in poker.

He should've stopped playing in the big mixed games against Jennifer Harmon, Phil Ivey, Patrik Antonius,etc.
And traveled to Macau where you can make a fortune playing no-limit poker against the fish over there.
Instead Barry travels on the EPT poker tour and gets fucking killed and schooled by kids too young to shave.

Barry should've retired from poker 5 years ago, if he did he would have been ahead of the game.

[Texter]

his home was probably under water anyway...and being a poker pro isn't that great for the credit rating to begin with, so he might have been better off dumping that and moving into one of his other places.

[Dan Druff]

his home was probably under water anyway...and being a poker pro isn't that great for the credit rating to begin with, so he might have been better off dumping that and moving into one of his other places.

A 12,000 square foot home in Rancho Palos Verdes is worth a fortune -- even after the market trended downward following the housing boom that ended in 2007.

Barry has owned it for awhile, but I believe that he probably kept taking equity out of it, and eventually it took the rest of the equity out of itself (and then another 200k) because the market fell.

He probably can't keep up the mortgage payments because he doesn't have an income at the moment, aside from his position at Pokerstars. I have to imagine that Pokerstars cut his pay after Black Friday.

Supposedly he lost a fortune on Pokerroad, as well, which was said to have as many as 20 employees at one point.

[Deal]

I heard that Sebok is looking into it and will get back to the community with the answers shortly.

[bukowski72]

The big mixed game doesn't run anymore even if Barry had the money to play in it. That game was really hurt by the death of Chip Reese. Chip was the one who kept in contact with all the big fish socially and got them to come to Vegas. There hasn't been anyone who could fill that role.

The Macau games wont let tight white old pros play in their games. Barry has indicated in interviews he is in a tight spot. He said the good games are LA home games but he can't put in the time to get into them. He said he is too old to be spending hours drinking in bars and night clubs with 30-year-olds until they invite Barry into their game.

He has mostly been seen playing the 400-800 mix around California.

[PLOL]

I hope I'll be able to play 400-800 mix when I go broke.

[SpewArtist]

I hope I'll be able to play 400-800 mix when I go broke.

lol

[NaturalBornHustler]

his home was probably under water anyway...and being a poker pro isn't that great for the credit rating to begin with, so he might have been better off dumping that and moving into one of his other places.

A 12,000 square foot home in Rancho Palos Verdes is worth a fortune -- even after the market trended downward following the housing boom that ended in 2007.

Barry has owned it for awhile, but I believe that he probably kept taking equity out of it, and eventually it took the rest of the equity out of itself (and then another 200k) because the market fell.

He probably can't keep up the mortgage payments because he doesn't have an income at the moment, aside from his position at Pokerstars. I have to imagine that Pokerstars cut his pay after Black Friday.

Supposedly he lost a fortune on Pokerroad, as well, which was said to have as many as 20 employees at one point.

If he maxed the mortgage out when house values were high, which he probably did, it could be a MASSIVE amount under water. Could easily be a strategic default, with a house that large and presumably extremely valuable at one point he could easily be under a million or more.

The 200k was just how far behind he was on mortgage, if he hasn't paid in over a year that looks like a 18k payment every month which is about a $3 million mortgage. If that was the peak value in 2007ish, I bet he is more than a million underwater, especially with how Vegas real estate has crashed.

He has already saved 200k by not paying mortgage, and will probably live there for another year or so mortgage free to gain another 200k. He knew the value would probably never recover and if it did it could be who knows how long, easy decision to just walk away money problems or not.

Easy game.

[DirtyB]

The big mixed game doesn't run anymore even if Barry had the money to play in it. That game was really hurt by the death of Chip Reese. Chip was the one who kept in contact with all the big fish socially and got them to come to Vegas. There hasn't been anyone who could fill that role.

That's really interesting. I never considered that aspect of big games. I guess I assumed that the room staff and the casino hosts helped get those games together.

[SixToedPete]

Barry dropped a lot of coin on Asian whores.

[chinamaniac]

That being said his best friend is phil ivey, so i think he'll always be okay.

I don't know if that is a good or bad thing. Only a matter of time before he is in the same boat.

As far as Greenstein goes he said the 4k 8k game also dried up because their weren't many fish left. Maybe Reece had a lot to do with it too.

But bottom line is a lot of these guys just let the game pass them by and new players got better and trained extensively and kicked their asses. ESPECIALLY in the MTT world. Night and day compared to what it was in the mid 2000s

I'm not saying this is fact but aren't there strong rumors that this guy is a huge pit degenerate and owes casinos a bunch of markers. In fact I think when the whole owing Full Tilt money thing came up he admitted he owed casino markers.

Seems like a nice and honest guy but just looks miserable every time I have seen him either live or on TV. Just looks like a beaten man

[Corrigan]

yeah wonder how much he regrets giving those millions to charity. Or maybe that would be gone too. Unlike a lot of the other TV Pros though, Barry always came off as a total boss skill-wise, especially at NL holdem. I doubt it's his skill/game passing him by that's to blame. Prob just life/gambling leaks combined with a bad run at cards.

[Muck Ficon]

Another broke poker pro. Shocking.