Power Outage

• Once called Detroit's "Hip-Hop" mayor, Kwame Kilpatrick has now hopped his way into jail and out of office. Kilpatrick's illicit affair with a staffer has crushed his political career and divided the Motor City.
  
  
  

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• Earlier this year, Ed McMahon, best known as the late Johnny Carson's sidekick and spokesman for Publishers Clearinghouse, appeared on Larry King Live explaining how he fell more than $600,000 behind in payments on his $4.8 million in mortgage. The comedy giant said he hoped to avoid foreclosure on his multi-million dollar Beverly-Hills home, but that may be an uphill battle since medical problems have kept him from working.
  
  
  
  
  

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• Michael Vick went from being the best young QB in the NFL and one of the most electrifying players in the league to a jail house convict in one year's time. He is still serving a 23 month prison sentence stemming from dog-fighting charges in the state of Virginia.
  
  
  

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• Radio One has taken a rugged tumble. The DC area-based company attempted to ramp up their new multimedia and Internet initiatives, however the company took a loss in national advertising. This has resulted in the company stock price plummeting.
  
  
  

  Radio-one.com

• Once a top music producer, Scott Storch is another music mogul who has hit the skids. Living an extravagant lifestyle in Miami which included numerous luxury cars and a $10.5 million mansion finally caught up to Scott Storch in the summer of 2008. The fledgling music industry, bad business decisions and problems with child support payments of his two children led to his fall from grace.
  
  
  

  Wilfredo Lee, AP

• The Death Row Music label made legends out of Dr. Dre, Snoop Dogg and Tupac Shakur, but it's now up for sale. Why? Back in 2006, Founder Marion 'Suge' Knight filed for bankruptcy in the face of a $107 Million judgment. In the court papers he filed in the case, he estimated his assets to be $50,000 or less with debts totaling more than $100 million.
  
  
  

  Robert Mora, Getty Images

• The Queen of Soul, Aretha Franklin, found herself singing the blues when her $700,000 mansion in Bloomfield Hills, Mich., slipped into foreclosure. Her attorney claims it was all a mistake that occurred over $445 in 2005 taxes and late fees. Turns out the state may have been on to a delinquency trend because she now owes a total of $19,192 in back taxes on the property through 2007.
  
  
  

  Jason Squire, WireImage.com

• He may be best known for his hit "Can't Touch This" but Rapper/Singer M.C. Hammer was hit by a money crisis. The man who had no problem bringing hip-hop music mainstream ran into problems when he hired his close friends, making him responsible for a $500,000-a-month payroll. He also had a $30 million mansion combined with extravagant cars and even exotic animals. All of these things put the hammer down on Stanley Burrell's loot. He eventually lost it all, including some of the "friends" he tried to give a leg up.
  
  
  

  Tina Fultz, ZUMA Press

• Evander "The Real Deal" Holyfield may have risen to the top in the boxing ring, but recent financial troubles have been brought him to his knees. His $10 million estate in Atlanta is under foreclosure, he owes another $550,000 to a Utah landscaping company who is suing, and if that isn't enough, one of his baby mommas is taking him back to court for missed child support payments, ranging from around $3,000 a month for one child. In 2003, courts came to the conclusion that Evander was making around $604,000 a month when stipulations for child support was being made.
  
  
  

  Stephen Shugerman, Getty Images

• "Iron" Mike Tyson isn't as strong financial as one would think after reportedly earning some $300 million in the boxing ring. Still, he KO'd his own financial future by declaring bankruptcy in 2003. He was also forced to sell the Connecticut mansion he shared with ex-wife Robin Givens, which was later purchased by Rapper 50 Cent. Tyson blamed his lavish spending and promoter Don King for his empty pockets.