The Foscos are far from broke. Quite the contrary.

Joe is just a very, very peculiar individual, a glutton for punishment, desperate for pity, and absolutely obsessed with becoming a member of the Chicago Outfit. He got chewed up & spit out whilst chasing that dream. That's the motive behind all of this. And nothing more. Joe's personal relationship with Federal agents is the only thing keeping him breathing. And I still wouldn't be surprised if he came up missing regardless.