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Inside the Financial Collapse of Annie Leibovitz

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Paul.B.Dodd
08/18/09

In reply to Inside the Financial Collapse of Annie Leibovitz
I'm just a working drone but I simply can't fathom in my wildest imagination taking on that type of debt. My little lady and I went to the car dealership last week to look into the possibility of trading in our small car for a bigger pre-owned model. We liked the car and we got a low finance rate but at the end I balked at the idea of financing 15K plus interest, and this woman is taking out 20 million dollar loans like it's an advance on her allowance.
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Swordfish
08/18/09

In reply to Inside the Financial Collapse of Annie Leibovitz
When she came to Paris last year for her big show at the MEP, she and her entourage reeked of expensiveness: the limo chauffeuring the daughter around, the fancy dinners....I don't know, but I got the feeling she was costing the MEP a fortune.
That said, I wouldn't be surprised if she showed up on the UBS list of Americans hiding money in Switzerland.
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GORDONGARTRELLE
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
"By the late seventies, she had begun to display a lighter, more comic style, like painting the Blues Brothers’ faces blue and posing Bette Midler, star of The Rose, atop a bed of roses."

JIM NANTZ: A breakthrough unlike *any other*.
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Island of Misfit Toys
08/18/09

@GORDONGARTRELLE: Is that really a breakthrough? Because that just doesn't sound that unique or creative.
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heywhat
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
Why is everyone so fascinated by her financial meltdown? This is like the fifth or sixth article about her and her money problems. It's not like she is the first artist to experience financial difficulties. And she certaintly won't be the last.
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Baroness
08/18/09

@heywhat: She might be the first artist to borrow $24 million and seem to have no idea that there were strings attached. That's kind of interesting.
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raincoaster
08/18/09

@heywhat: There's a certain level of cultural dissonance in realizing that an artist (and a commercial one, at that) could get that deeply in the hole for what are essentially lifestyle choices. We expect it of hedge-funders. We don't expect it of artists. They're supposed to blow their money on buying rounds for GI's at the Plaza and such, not third homes in the Hamptons.
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Unsolicited Advice
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
My guess on the magic extra money? Tax liens. Or just plain old kickin' around cash.

Oh, and an important point: it's like an art auction when a true original gets into financial trouble. BAC owns the effin' Beatles, man. Banks didn't do these loans because Jacko or Liebovitz was a good credit risk; they did it because they wanted the collateral.
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lobstr
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
(Howard Stern + Geddy Lee)² + Sally Struthers = that photo.
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BookishLookish
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
It all started with fressing the nanny. No way would Susan Sontag have stood for this nonsense! She was a writer, a real artist and bohemian, not a fucking hack with some assistants and some decent lighting technique. Fuck you, Annie L., you're soooo last century!
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Edited by BookishLookish at 08/17/09 8:43 PM BookishLookish was starred BookishLookish was unstarred

pmarble
08/17/09

@BookishLookish: Had to look "fressing" up. It meant what I thought it did. Thank you for teaching me something new *and* making me chuckle.
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BookishLookish
08/17/09

@pmarble: I do what I can. Now spread the phrase throughout your town, darling.
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BabyJewn
08/17/09

@BookishLookish:
Well, you know I absolutely adore the expression "fressing the nanny", BUT, I have this weird thing wherein I know her because of our kids and, for what it's worth, I will say this: the woman LOVES those kids and would do anything for them.
Oh, Christ, I know, I know, whatever, but somehow, I was surprised by how totally genuine she was (and is) about it and... oh I don't know...fuck me, my in-laws are here, I want to kill myself and I've had a (several!) Remy Martin(s)...

Carry on....
xo
BJ
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BookishLookish
08/18/09

@BabyJewn: BJ, so nice to see you back here!

You love your kids by taking care of their future. Maybe she has some money shoved away in trust for them, but taking on this kind of debt will be no favor to them in the end. I don't doubt she loves her kids; we all do. I still think she's not that talented and pretty foolish for taking on this kind of crazy-ass money problem.

Good luck with the ILs!
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Bunsy
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
"A million or so in tax liens?"

Yikes.
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Tremonius
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
It's just like the nobles in Victorian novels; at some point they are forced to sit down and take stock of a deteriorating position brought on by a habit of luxury and disdain for accounting. The little shopkeepers they ignore utterly, but Goldman Sachs must be satisfied.
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Lazy Susan
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
I'm not sure I DO trust the sister. I knew that she put her photos up as collateral... and I have nothing to do with any of it.
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maevemealone
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
But.. Dan Zanes lives in Brooklyn, no? She flew him into Manhattan? Sweet.
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oneninesevenfour
08/17/09

@maevemealone: The birthday party was in London. Surely you didn't think a one year old girl has the biggest bash of her life thus far in Manhattan?
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John Cook
08/17/09

@oneninesevenfour: Actually it was in Rhinebeck, N.Y. So maybe he drove!
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Senor_Macho_Solo
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
Some of the celebrities she leeched off of probably couldn't afford the extravagant lifestyle she maintained. Why would Leibovitz think that she could?
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Tremonius
08/17/09

@Senor_Macho_Solo: It's exactly like that kid from Kansas in the nineteenth century who had never been higher than a tree. He went to the Worlds Fair in St Louis and evil kids there told him how to fly. It's the height, they said, you just go up high and jump. it's what birds do. They gather height and then spend it all their days. So the kid tried it, right off the eighth floor of the Adler Hotel

Guests along about the second floor heard him as he dropped by outside, "So far, so good."
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___
08/17/09

In reply to Inside the Financial Collapse of Annie Leibovitz
Art Capital recently lent me $5 million against my world renowned collection of Spice Girl Fantasy Pops. Goldman Sachs acted as the middle man on my loan too. I blew through the money in one weekend in Atlantic City.
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oneninesevenfour
08/17/09

@Big Poppa: I did roughly the same arraignment, blew through it in one ill-advised trip to DuaneReade.
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___
08/17/09

@oneninesevenfour:

I hope you remembered to use your Duane Reade card to get $5 off your next purchase. (Doesn't it suck how you have to wait until the next day to use it?)

I used to live between Duane and Reade street downtown. Its a great conversation opener. Most people think there was some dude named Duane Reade.
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