Lenny Dykstra: "I'm Not Bankrupt" (VIDEO)

In what may be the best financial euphemism of the summer, Lenny Dykstra, the ex-Met star, spoke to CNBC today and referred to his recent Chapter 11 filing as a mere "reorganization." Just don't call it bankruptcy.

"The confusion here is that this is about reorganizing nothing else. Period," Dykstra says. "I filed Chatper 11. That's reorganization, that's not bankruptcy."

CNBC says that Dykstra was worth $58 million last year, but bankruptcy documents show that he now has only $50,000 left. He also is reportedly $31 million in debt. Hmmm...liabilities greatly exceeding assets -- sounds like bankruptcy to me.

WATCH:

On Dykstra's Nails Investments website, he adds a longer -- and equally strange -- defense of his filing. For one, Dykstra blames his Chap. 11 proceedings on the owners of the mortgage on his $25 million home, a house formerly owned by Wayne Gretzky.

He hopes to be resurrected, "through God's grace and the mercy of the U.S. Bankruptcy Code..." Here's more:

"The action will provide me time to reorganize my estate and allow me some breathing room to challenge a multitude of meritless claims that have been made against me...This will further allow me to pursue my lawful claims against a number of parties who have attempted to steal my property, breached material agreements with me or otherwise acted in bad faith or with the intention of causing me to suffer financial harm."

Still, he reminds his subscribers that, "Bottom line is that this is not about me, it's about YOU! I still stand behind you 100%."

Dykstra also lists other notable figures who've filed for bankruptcy, including Mark Twain, Henry Ford, Walt Disney, Thomas Jefferson, Abraham Lincoln, and Burt Reynolds. One small note: Dykstra says Donald Trump has filed for bankruptcy twice, which isn't exactly true. Actually, Trump filed for corporate bankruptcy. Unlike Dykstra, Trump has never filed for PERSONAL bankruptcy.

Get HuffPost Business On Facebook and Twitter!

Comments

[larry278]

Can Mr Dykstra copyright that line? Ca & other entities that are bankrupt in a de facto sense are going to be using that line now till they are declared bankrupt in a de facto sense. Lenny could use the royalties from that line about now.

[DuganS1]

"......bankruptcy documents show that he now has only $50,000 left. He also is reportedly $31 million in debt."

The author of the article apparently forgets to account for Dykstra's assets ex- the cash that's sitting in his bank account.

[Maschine]

I don't know how that stuff works, i just tell the truth......

ok, so answer the question, do you only have 50 thou...yes or no ?

[HoosierRadical]

Yeah right...back in the early 1990s MC Hammer had an "reorganization" too.

[sq1972]

What's with ball players feeling compelled to verbally punctuate their sentences? Rafael Palmeiro: "I have never used steroids. Period." Dykstra: "this is about reorganizing nothing else. Period." Reporters should respond in kind: "Which of your assets are you planning to liquidate--Question mark."

[jalowe1957]

Not only financially bankrupt, he's intoxicated with hubris.

He'd better find a good 12-step program, and fast.

[ReelBusy]

Lenny should have stuck with baseball.
It's been berry berry good to him.

[jeffp26]

He's not bankrupt.

He's drunk.

[kellygrrrl]

everyone at Sherwood is. they should have the gate guards keeping the residents in rather than the visitors out

[Craniumdude]

Funny but I would never think of mentioning lenny dickstra in the same sentence as any of the other great Americans mentioned above. Except of course the two non-great ones......trumpy and Burt. And heck I kinda like Burt so lets just stick to trumper.

[kellygrrrl]

I have to admit, that is one of the most beautiful homes I have ever been in. Went there when the Gretzkys first finished it. The house is 2 for 2 now -- anyone who buys it might as well contact their own bankruptcy atty the day escrow closes.

[swift goat pet for truth]

Isn't great what one can do with barrelfuls of money?

[ranch111]

Idiot.

[themodernleader]

Our persistent refusal to confront our problems until all the wild horses have escaped and are pillaging the country side, is personified by Mr. Dykstra. He refuses to admit to himself or his audience that his overreach has resulted in personal disaster. Self-denial is a poison that keeps constructive change from entering a person's or nation's life.

[pissedmichael]

Trump has never filed for personal bankruptcy? This somehow makes him a cut above Lenny? Trump is one of the foulest things in this country. Leave him out of this, he only makes Lenny look good.

[tomasedison]

Lenny used to give stock advise for Jim Cramer's company. You might of seen him on FOX news.

[Rook119]

He called him "One of the great ones." What's funnier is that quite a few people shelled out hundreds of bucks to get stock picks from Lenny.

[zg1968]

Yeah, what a joke. Lenny can't even talk without drooling. I can't imagine anyone paying him for advice - about anything.

[planetjeffy]

Shows you what a scam Cramer is and stock pitchmen are in general. When things are going up, everyone is a genius. When they go down, you see the emperors without their frocks.

I remember watch Cramer during the big runnup - and there wasn't a stock he didn't like. Now there isn't a stock he likes. Average schmo's like me, trying to invest in the market don't have a chance.

[ambeeeant]

Sorry to see what's going on with Lenny. I followed the 1987 season and remember him as a tough competitor who came through in the clutch more often than not. Being a Cardinals fan, I have to admit that, at the time, I hated him (as a ball player). But in a bit of split personality I also had immense respect for him. He was a hell of a ball player. I hope he is able to work through his problems.

[mjeffn]

He was just another ballplayer.