Typical scenario now in the U.S.-financial ignorance combined with refusing to heed wise(parent's) advice. Also, no stigma to bankruptcy anymore. Even worse today, coming out of college with no job prospects and universities recommend continued education to pursue Masters degree which means even more debt!
these people(Couric, Lauer, ...) are now obsolete yet networks will pay kazillions. It is amusing to watch dismal, declining ratings yet continued employment.