we're living beyond our means, most of us here are guilty of it. This is especially true for football teams. Spending money they do not have. It's one of the many reasons why we are in a recession as it is. Whilst it is unfortunate and sad that a top end team is facing liquidation. It was the club who was spending all that money and giving out high wages when they knew they couldn't afford it.
Put it this way, you have 50 pence in your pocket.. but you want a sweet, chocolate, alcohol or cigerettes that cost much more and giving the person behind the counter an I.O.U. But you keep doing this for a couple of years and eventually the person behind the counter has had enough and wants what they are owed. But you don't have that money so they take actions into their own hands. It's the same with portsmouth..just on a bigger scale.