If you think Kevin Bacon and Kyra Sedgewick worked a lot in the past, I don't think you have seen anything yet. Reports are swirling that Kevin and Kyra lost all of their money in the Bernard Madoff ponzi scheme. Apparently Kyra and Kevin lost everything except for their checking accounts and the land they own. Their publicist refused to confirm or deny this to The Huffington Post but if true would certainly crush them. Not crush them as if they were people who couldn't go out and work and make a few million each year for the next few years, but still, crush them in the sense they probably had to drink themselves to sleep for a few nights until they realized they can make more money in a few months than most people make in their whole lives.
See, it is their story that is going to make headlines because they are the celebrities, but lets face it. They can and will make a ton of money still in their lifetime. Sure, they might have to cut back on private jets for a few months until the paychecks start rolling back in, but the sad fact is they are not going to really struggle. It makes for great headlines but chooses to ignore all the people in the world who don't have the luxury of being able to get $1M for six weeks work.
It does show that even when you are decent couple as Kyra and Kevin are, that even they can fall victim to certain acts and hopefully their situation will throw some light on people who are not as fortunate as they are and are just hoping everyday they get that minimum wage job at the mall to try and support their family.
My checking account currently has 12 dollars in it. I have a feeling theirs have a bit more.
ReplyDeleteYes, I'm sure Kyra and Kevin will be juuuuust fine.
*Plays the world's smallest violin for Kyra and Kevin*
ReplyDeleteI just got laid off from my job, am seven months pregnant, and have a mortgage to pay. I could give a crap less about people who, like Enty said, will recoup millions that I'll never see in my lifetime.
I'm sorry to hear about them getting caught in this. I think they're both very talented and try to do challenging work.
ReplyDeleteBut, you've got to DIVERSIFY your brokers/firms as well as your investments.
Too many get burned by their greed trying to outperform the market.
Well, they don't need to buy food anyway, judging from this photo...
ReplyDeleteSurely they didn't put all their money in one place...
ReplyDeleteLOL, Selena! It's true!
ReplyDeleteKyra must be getting paid a fortune for The Closer, with its ratings.
As those above said, it's their own damned fault if they didn't diversify. It's the first rule of investing! (I myself have both a penny jar, and an extensive dvd collection that is probably worth tens of dollars on Ebay!)
I DOUBT IT WAS ALL THEIR MONEY...BUT I'M SURE IT STILL HURTS....THIS GUY WAS GOOD....AND FOR SOOO LONG...IT'S REALLY AMAZING.
ReplyDeleteAwe. Poor pumpkins.....though it should have happened to a few choice other hollyweird inhabitants.
ReplyDeleteI feel for the charities that are losing so much more then the gilded lifestyle.
when AIG lost their s*** a few months back, we lost our daughters college money that we had been putting away for the past 12 years. Here we were, doing the right thing all along and then...
ReplyDeleteWe were not the only one in our family to lose it. Our uncle who was the one back in the day to reccommend AIG lost close to 100,000.
I think in 2009, I am going back to putting my money in the piggy bank or burying it in the back yard.
Moose & Amber, that sucks for both of you. :( These are very hard times.
ReplyDeletethese two seem like two of the more sane and nice among the hollywood crowd, so i have empathy for them. losing money sucks - i don't care how much you have.
ReplyDeletethe elie wiesel foundation for humanity lost more than 15 million dollars. madoff should burn in hell.
to those having hard times, my heart goes out to you all and i'll say some prayers that '09 is much kinder to you.
Lots of reputable human rights organizations lost $$ as well. Here's the email I received from MoveOn.org
ReplyDelete--------------------
Dear MoveOn member,
You've probably heard about how Wall Street financier Bernard Madoff scammed investors out of at least $50 billion.
But you may not have heard that his victims included the foundations that support some really important progressive organizations. Groups that fight for human rights, fair elections and racial justice are getting hit hard—just in time for the holidays. We've worked side-by-side with many of them.
If these groups can't replace the funding that came from investment accounts that Madoff stole, they may be forced to start cutting important projects or, in some cases, even lay off staff.
Can you pitch in $25 or $50 for each of the four organizations we're highlighting below? Our friends at Atlantic Philanthropies and the Open Society Institute will each match every dollar that comes in until January 1! So, for the next three days, your donation of $25 or $50 means $75 or $150 for groups affected by Madoff. If a few thousand of us give together, it can make an enormous difference—and help repair some of the damage Madoff has done. Click here to contribute:
https://civ.moveon.org/donatec4/dec_2008.html?id=15300-14217718-mvxkVSx&t=3
Your end-of-the-year gift will be tax-deductible as if you had made the gift directly to the designated charities; we will forward 100% of your contribution to the organizations you select.
Many organizations have been hit by this crisis. We're highlighting the four that MoveOn has worked closely with over the last few years. Here's a bit about each of the groups:
The Brennan Center for Justice is a nonpartisan institute that focuses on fundamental issues of democracy and justice. Their work ranges from voting rights to redistricting reform to checking presidential power in the fight against terrorism. MoveOn has worked with the Brennan Center closely in the fight for fair elections. Chip in to help them out here.
Human Rights Watch is one of the world's leading independent organizations dedicated to defending and protecting human rights. By focusing international attention where human rights are violated, they give voice to the oppressed and hold oppressors accountable for their crimes. Its rigorous, objective investigations and strategic, targeted advocacy build intense pressure for action and raise the cost of human rights abuse. MoveOn has worked with Human Rights Watch on campaigns to preserve the constitution and protect human rights in America and abroad. Chip in to help them out here.
Advancement Project is a policy, communications and legal action group committed to racial justice founded by a team of veteran civil rights lawyers in 1998. They have pursued critical litigation to protect voters and also support grassroots movements for universal opportunity and just democracy in the areas of education and immigrants' rights. MoveOn has worked with Advancement Project to stop vote suppression, especially among minority folks. Chip in to help them out here.
The Center for Constitutional Rights is dedicated to advancing and protecting the rights guaranteed by the United States Constitution and the Universal Declaration of Human Rights. Founded in 1966 by attorneys who represented civil rights movements in the South, CCR is a nonprofit legal and educational organization committed to the creative use of law as a positive force for social change. MoveOn has worked with CCR to hold President Bush accountable for his unconstitutional acts, from illegal wiretaps to Guantanamo. Chip in to help them out here.
why for they put all their eggs in one basket?
ReplyDeleteJust askin'...
You know, 12 dollars can buy a lot of twinkies.
ReplyDeleteLooks like Kevin is going to have to start bringing home the bacon....nyuck nyuck!
ReplyDelete*groan* lol
ReplyDeleteI like her. I love The Closer. I feel so bad for everyone. That fuck head Madoff won't see a day in jail I bet. Those thieves protect their own.
ReplyDeleteWell...so much for fixing her 'duck' lips! C'mon...anyone with me on this?!? That chick has some wierd ass lips.
ReplyDeleteI'm just sayin'...
And Ms..um..just a 'TAD' too long of a post. Perhaps?!? Yeah...perhaps.
At least they aren't crying about it publlically. There is a woman who has been blogging on TheDailyBeast.com - she wants to commit suicide. She has to fire her maid! Sell the vacation home in Florida! Take the subway! How much does pizza cost??!!
ReplyDeleteI want someone to slap some reality into her pampered life.
Rant over. Sorry :(
http://www.thedailybeast.com/blogs-and-stories/2008-12-17/the-bag-lady-papers
MooseFan, I'm a licensed broker. You may be covered by the SIPC (the federal agency that insures brokers - like the FIDC but for brokerage firms). My guess is AIG is going to have a HUGE lawsuit, possibly more than one.
ReplyDeleteAside from the Madoff scheme & AIG nearly going under, it seems to me many Brokers are making poor decisions for their clients - putting them at much greater risk. And what happens then? Clients sue because of the "know your client" rule.
Enough ranting.
polly, it wasn't just about her, tho. she wrote that she was worried about yolanda who sent money to family in colombia. she's in shock. she stupidly took every penny that she worked so hard to earn and turned it over to a thief.
ReplyDeletesorry, but i feel sorry for all these people. just because they're rich doesn't mean they deserved this.
Kevin Bacon is one of our finest actors. He is not only talented, but he is a nice guy who is professional in his job. How do I know? Because he's been a working actor for 20+ years.
ReplyDeleteHe also has done low-key guest spots on the "The Colbert Report." The funny one was when the writer's strike was over, and Stephen introduced his writers on stage. The third or fourth guy to come out was Kevin Bacon! So funny.
I feel terrible for all the honest, hardworking people who lost money from that fucktard. Kevin and Kyra are two of the luckiest ones, as they can make it back quickly.
And I work for a large national bank---you wouldn't believe some of the memos we have been getting the last 6 months. Example: "Immediately notify the site manager if any branch asks for an unusual amount of cash in their weekly order."
ACK! I have anxiety at every staff meeting!
Ms.-
ReplyDeleteYou see those organizations losing all that money as a bad thing...I see it as a good thing. Sorry, but I won't be weeping for a bunch of liberal commie America-hating scumbags, and I sure as hell won't be giving them any of my money. Maybe this is their just desserts for trying to destroy this country. But then again, I'm a big, bad, fascist RepibliKKKan...the devil incarnate, so what do I know?
Oh, and I voted for Bush TWICE, so I certainly wouldn't want to support any group that wants to continue whining and crying and slandering the poor guy. I mean, you liberals got your Chocolate Messiah, your savior, so why do you have to keep harping on Bush? YOU WON, GET OVER IT! But you can't...you love to spread your misery and ugliness to everyone, all the while trying to place the blame on the Republicans. Hypocrites.
(sorry, but 8 years of this constant bullshit has made me REALLY touchy)
Oh, and I forgot to say that the most HILARIOUS thing of all is that MoveOn.org was created so people could MOVE ON and get over the Bill Clinton blowjob scandal...but you guys only want people to move on when it's one of YOURS that is in the hot seat. When it's a warpig fascist racist RepubliKKKan monster, you want to harp on it until hell freezes over. Yet you still never see how hypocritical you are. HYSTERICAL!
ReplyDeleteNot for nothing, but I'll bet THEY didn't put all their money in the Madoff fund. I bet their "financial advisor" did.
ReplyDelete