Even Bruce Springsteen Had To Borrow Money For Short-Term Liquidity

Even Bruce Springsteen, long after raking in the millions from Born To Run, Darkness on the Edge of Town, The River, and Born in the U.S.A., still needed to borrow money short-term to make ends meet:

 Considering the money he’ll earn from his two new albums, it’s hard to believe Bruce Springsteen once needed a $500,000 loan from the Orioles’ Rick Sutcliffe for a down payment on a southern California home.

Actually, “needed” probably isn’t the right word. Springsteen had plenty of money back in 1986; he repaid Sutcliffe two days later. But as so often happens with rock stars, baseball players and other rich people, he just wasn’t liquid.

The Boss was waiting on a CD — a certificate-of-deposit, that is, not a compact disc. It was scheduled to mature two days after the paperwork for his closing was completed, and smart businessman that he is, he

Read the rest of this article!