I occasionally watch the Suze Orman show on CNBC. It is a kind of financial porn, I admit, watching people strip themselves financially naked in front of the TV audience. So I watch with a kind of embarrassed fascination. Anyway, Suze had a woman on last night that even she couldn’t handle. The woman’s name was Dawn. The segment opened with a video of Dawn’s family home. A large house with elaborate landscaping, overfurnished in poor taste (big hair was involved here, too). She is married, with a 7-year old daughter. Dawn owes $900,000 on the house, which she claims is worth about that much. Dawn also has $250,000 in credit card debt, spread over 24 cards, and two car loans. And she is still shopping, Suze reported that the night before the show Dawn had been upset. Because a diamond ring that she wanted had been sold to someone else.

Dawn’s (family) income is $9,000 per month, take home. Loan payments and minimum payments on the credit cards are $19,000 per month. A shortfall of $10,000 per month. Suze explained to Dawn that all the stuff (jewelry, etc.) has to go, she needs to sell the house ASAP, move into a small apartment, and work out a plan with her creditors. Because her income is too high, she can’t get the debts discharged in bankruptcy. Dawn shrugs, she’s not giving up her stuff. “Not going to happen,” she says. Suze explains that she can’t continue this way. Explanations continue, pointing out that she actually doesn’t own anything, she has a negative net worth. Dawn refuses to believe that anyone will take away her house and stuff. She repeats her mantra “Not going to happen.” Not the slightest qualm of spending other people’s money without the slightest intention or ability to repay it, not the slightest twinge of concern about consequences. Suze eventually gives up, stunned and frustrated.

I’m left shaking my head. How many people like Dawn are out there?