I was reading the article, Life savings gone, ‘Madoff-ed’ best-selling writer back at work – CNN.com. It was about Alexandra Penny, who is a “best-selling” author was one of Bernard Madoff’s victims. About 10 years ago, on the suggestion of a friend, decided to invest all her savings with Madoff. She thought it would be safe with him. She had been working and being diligent about saving her money since she was a teenager. She says, she worked and earned every penny herself, and had a fear of going broke and “becoming a bag lady.”
Apparently, she wrote a first hand account of being a “Madoff-ed,” and how she had to sale property to pay her bills on TheDailyBeast.com. She was surprised by the “vitriol” reaction of the readers who left comments. They called her “a privileged New York princess,” and said that she should “get a job.”
Based on an excerpt from the NY Post (12/24/08):
Of all the victims of the Bernie Madoff Ponzi scheme, Alexandra Penney might not be the most pathetic. Penney grew up privileged – her mother was Greek royalty, her father was a Harvard lawyer – in “a WASPy Connecticut suburb,” she writes on TheDailyBeast.com. She got rich writing such best sellers as “How to Make Love to a Man” and editing Self magazine. And she invested her fortune with Madoff, “that mother[bleep]er,” she calls him. But Penney sounds a bit like Marie Antoinette when she frets about her options: “I’d have to sell the cottage in West Palm Beach immediately. I’d need to lay off Yolanda [her maid] . . . I’d have to stop taking taxis . . . And how hard is it to give yourself a really good pedicure.” Such options have Penney contemplating suicide: “Would you believe the Hemlock Society no longer exists?” But she concludes on an up note – she learns how to buy a MetroCard. “Yesterday, I took my first subway ride in 30 years.” A true survivor.
What do you think? Do you/should we feel sorry for the rich and super-rich when they lose their fortunes? She is much better off then most of us—she has valuable items/property to sale and can work as a writer again. Consider, however, that whatever amount of money she lost, she did work for it. What do you think?