Kevin Bacon And Kyra Sedgwick Lose Big WIth Madoff

NEW YORK — Call it six degrees of Bernard Madoff.

The actor Kevin Bacon and his wife, actress Kyra Sedgwick, are among the many victims of the massive Ponzi scheme run by the disgraced New York money manager.

Bacon's publicist, Allen Eichhorn, confirmed Tuesday that the couple had investments with Madoff. He wouldn't say how much money they might have lost.

Madoff told federal investigators that his investment business was "a lie" that lost as much as $50 billion.

Other Hollywood victims have included a charity linked to director Steven Spielberg and his DreamWorks partner Jeffrey Katzenberg, and screenwriter Eric Roth, whose credits include "Forrest Gump" and "The Curious Case of Benjamin Button."

Comments

[philyfriar]

I am more disgusted by the greedy rich that wanted EVEN MORE and invested with someone whom they didnt even know or understand what he was doing. It is a very sad state when people think that they somehow make themselves better than others by the possessions or wealth that they have. Surely they have a weakness in their beings to think in such a sorry sick manner.

[waynealex]

Madoff, or Made off!! Which is it? Or MAD!! Or OFF! How did so many people get sucked in?

[waynealex]

$50 Billion!!! That's what the FED'S know about! There's got be more $$$ and if the old man is taking the hit it looks as if the kids will get off or made a deal with the FEDS. How does the saying go?? Like father -like son (s)?? How many are involved? What is the real truth?

[garykay]

Come now everyone, It's 2009 and as inhabitants of this speck of dust in the Universe called earth, can't we all just get along! Madoff has done wrong. He offered something that sounded to good to be true. Guess what? It is ,however, analogous to all the promises of salvation by the various church organizations. As Joel Osteen says,"It's expensive to run a ministry Larry(King), the cost of jet-A fuel has skyrocketed and my wife feels so much closer to God when she flies to Paris in our 30 million $$$ Gulfstream to do her clothes shopping". Let's hear a round of applause for the Vatican, the owners of more prime real estate than anyone on earth and tax exempt. Pass the collection basket please!

[junebuginFL]

Let me guess, not a religious person?

[niri]

Keep on dancing KB! It's only money!

http://www.youtube.com/user/baconbros1997

[junebuginFL]

All those Hollywood elite got scammed, they can afford it, and are completely dumb if invested everything, I dont think anyone is that stupid, there has to be some offshore accounts with all that money, they will live. Its not like the donate a whole of their money anyway.

[MaryscottOConnor]

junebuginFL, you're an idiot.

[Furby]

Well Maryscott, she's right about one thing Bernie Madoff probably does have some biga$$ offshore accounts. And at the risk of skirting the issue, rich people should share our pain so Bernie, in a twisted way, is now the working man's avenger.

[hollybork]

Why is someone who sells a gram of cocaine considered more dangerous to society than these villains who have ruined the world economy and robbed many people of their lifetime savings? I would like to see the whole lot of them in prison for life.

[mjtaylor22]

exactly

[Tammie]

I applaud you for this

[CaptainHowdy]

Puhleeezzz... the WHOLE SYSTEM is a Ponzi scheme!!!

[junebuginFL]

We should go back to the days when 4 furs equaled a rifle!!! Give me a break, this system would not have provided that nice flat screen you probably have at home and that comfy couch to sit on your b u t t with

[neocon666]

How many beavers equal a 50 inch flatscreen? What would they trade in NYC, rat fur?

[janeyre]

CaptainHowdy, you sure have that right... The Whole System is a Ponzi Scheme... Thanks for making more sense, than all of the comments put together...

[botb1123]

To all of the people who are criticizing them for "putting all of their eggs in one basket", no where in this article does it state that all of their money was invested with Madoff.

[Furby]

True, but ri ch people get really pis sed at the thought of losing even one red cent. Why am I enjoying this so much?

[RebeccaWhetstine]

With the continued spread of the impacts of the current economic crises into ALL sectors and "factions" of our highly-fac­tionalized society, one can hope for more-realistic dialog and deep reforms as relate to transparency and oversight in the economic realm. Revolutionary new "instruments", untested, unvetted, unfettered and, ultimately, most terribly untrue, will hopefully become the "instruments" of authentic learning. Now that nobody is able to escape the effects of this situation, there is hope for reform.

[mudshark12]

There are a lot of swindlers plying their scams in today's society. Bernie Made-off stands out above the others because of the enormous amount of money he stole. After his conviction the government needs to put him in a regular jail with regular run-of-the-mill convicts, and make this their standard to discourage future con artists.

[janeyre]

Mudshark12, what you wrote, makes sense. It will never happen. They don't punish White Collar criminals...

[cantstopme2019]

They need to see things clearly

http://www.flickr.com/photos/coyote2012/3155919782/

[swiss-ski]

I refuse to believe that Bernie Made-Off with all those liberals bacon. Bravo Bernie.

[bobtr900]

First of all, all business IS a Ponzi scheme, where each step of the way a product or service is inflated ever further.

I have always liked the acting of Bacon and Sedgewick. I am sorry they and so many others have suffered for the endless greed of a few.

This entire mess of corrupt business practices IS the direct result of St. Reagan and the two religious leaders who put him in the WH. One of which is my religion. The greed of religion is as bad as the greed of business.

[williamina]

weird

[junebuginFL]

Oh my, how can anyone believe Bob, all business is a Ponzi scheme, ever heard of products being exchanged for some form of value? You hire a contractor to build a house, you are getting something for it. I am sure business has helped you somewhere along the way (unless you never worked a day in your life), and then you hav to bring 2 Rep Pres into it, there were predecessors and last I checked business was conducted well before both of them!! How mislead can one be?

[Furby]

Let's back it up a little here. You hire a contractor to build a house. What do you get for it? Mostly screwed. Half way through the job he tells you he needs another check from you because his estimate is now way off. So you fork out another 10K and the next day, he tells you that check only covers the cost overruns and doesn't cover future work, for which you'll have to fork over yet another 10K. When you ask him where it's all gonna stop, he tells you that if you don't like it, he can just drop the whole job and leave you with a big honkin hole in your roof and no insulation. Sounds like a ponzi scheme to me...

[jeffrey678]

Well they did get a tax cut ! Thanks President Bush.

[swiss-ski]

Your welcome. About time you credited your President for stimulating the economy as that is exactly what tax cuts do, not tax increases.

[kitten645]

Yeah..our economy is "stimulated" all right. Oh Brother...

[mjtaylor22]

swiss-ski
yeah see where those bus tax cuts have taken the us and world economy
all the way back to 1931 depression
u dam dummy spitting the same garbage
ur tax cuts exploded our deficit and weakened our govt to the point of incompetence
and destroyed the lives of americans from all walks of life
rich n poor
what are tax cuts gonna do when 2 million americans lost their jobs last year, with more coming soon