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Lenny Dykstra files 'difficult, necessary' bankruptcy

Dykstra owns under $50,000 and owes over $10 million

UPDATED: Phillie-turned-would-be stock-option guru Lenny Dykstra owes more than $10 million to JPMorgan Chase, Bank of America and other creditors, and owns less than $50,000 to pay them with, his Los Angeles bankruptcy filing says. NEW: Read Dykstra's bankruptcy filing

And hundreds of thousands more, each, to celebrity lawyer Daniel Petrocelli, New York literary agent David Vigliano, California anaesthesiologist Dr. Festus Dada, former publisher Doubledown Media, Index Investors, Wachovia Securities, and more. And smaller amounts to New York's Carlyle and Jumeirah Essex hotels, Verizon, UPS, AmEx, Citibank, and other private-jet companies. Tho nobody in Philly.

Which just raises the old question: If he's so smart, how come he's not rich?

ESPN report here.