Swindled Kevin Bacon: "I Need To Work"

Kevin Bacon needs a job.

Last month New York Magazine revealed Kevin Bacon and Kyra Sedgwick were two of Bernie Madoff's victims, and may have lost everything they had but their real estate and checking accounts.

Bacon spoke to Life & Style Magazine about it at a Television Critics Association event:

"We'll march on. We have to. There¹s nothing you can do about it. You can't change what happened. Things could be worse. You remember that, and you go on with your life.

But Kevin was shocked by the news of Madoff's scam. "I didn¹t see it coming," he said.

Asked by Life & Style what he's currently working on, Kevin replied: "I don't have anything lined up right now, but I need to work, for obvious reasons."

Bacon is currently appearing in "Frost/Nixon" while his wife stars on TNT's "The Closer."

Comments

[Allablaze]

What's up with this uncombed hair, disshelved look so many Hollywood types are sporting lately. In the photo Bacon's wife looks great, while he looks like he just rolled out of bed.

[Mort]

Taco Bell is hiring!

[Supercruize]

lol

[proudloudlib]

Actually, they probably aren't.

[neesy08]

I do not feel sorry for anybody that lost $$$$ to Madoff. This is what they get for being so greedy and stupid. They already have more money than they will ever spend, and they wanted more.

[ebanks84]

AMEN.

GREED IS A DEADLY SIN and has a tendency to come back to bite you in the butt.

[bknott]

Really? So if you were investing money, and you could pick a plan that paid an estimated 9% per year, or a plan that paid an estimated 25% a year, you would pick the 9% plan, because you have enough money, and making 25% on your investment would be "greedy". Right?

You're not greedy.

You're kind of a pompous jerk, though.

[dutchman]

Thank you

[AgrippinaMinora]

A local charity lost everything investing with Madoff, including the employees' 403(b)s, and had to close. There was an interview with one of the employees, a 64-year-old woman who lost her retirement account and her job on the same day.

I do feel sorry for her.

[lynettema]

Investors were not aware of anything except Madoff's great reputation. I don't know how you blame them. Reputation is why we went with Northwestern Mutual.

[indy100]

Not everyone that invested with that crook has unlimited funds, even Kevin Bacon. Charities and other groups also invested wtih him. Unfortunately it seems anyone and everyone who was a CEO or runs things on Wall Street is a lying, unscrupulous thief and we're all getting screwed!

[bubbles3660]

My driveway needs shoveling. Facebook me, Kevin.

[ripe92]

"lost everything they had but their real estate and checking accounts." .......that's where most americans reside - if they're lucky

[hollybork]

Hey Mr. Bacon. When you go for those jobs, comb your hair and tie your tie. What a dork.

[WilliamGossett]

Good comment by Deb M below. I have followed that advice because I am too stupid to even guess what a good investment is so I just put some here in banks (below the $100K) some in regular securities, others in annuities and have a government pension.

I don't have a lot. If a Maddoff had stolen my pension I would be very very upset and ... [fill in the blank]

Greed is one of the seven deadlies and again it is true.


How can a Maddoff exist? Swindled his own sister.

You know, in Viet Nam they would take a guy like that some 500 feet up in a helicopter and then ... [fill in the rest]

[dutchman]

"How can a Maddoff exist?"

Simple - because it can. While I'm an optimist by nature, I've resigned myself to the fact that if you allow someone to game the system, they will. By neglecting enforcement of our existing securities laws, not pushing for greater transparency and disclosure, and then allowing banks to become "too big to fail", Bush (and by extension the republican congress of 1994-2000) has created just the environment necessary for this type of cancer to spread throughout our financial services industry.

This is so tragic on so many levels, and part of the burden falls on all the honest and hard working people that do work in the financial services. Not only have many of them lost their jobs and savings, but are now being lumped together with cretins like Maddoff. We cannot throw a big enough book at these charlatans.

Peace,

Dtuchman

[firelord5000]

Ya, we aren't even putting him in jail to get a little bit of what he deserves, broken legal system saves the wealthy again.

[DebM]

I hope we all take two lessons from this horrendous Madoff situation.

1. Diversify, diversify, diversify. If something goes bad, at least you haven't lost everything.
2. If it sounds too good to be true, i.e., returns well above average, chances are it probably is. Don't let greed overcome your need for common sense.

[dutchman]

Exactly. Due diligence seems to be a lost art.

[martiniandabotoxchaser]

Yes it is sad that Bacon lost his money, but the greatest disaster from the Madoff scandal are the losses incurred by many of the nation's leading charities. Many poor people are going to feel the sting of Mr. Madoff, not just movie stars.

[DissedBeliever]

The nation's leading charities? Really? All that has been reported in the press are a number of small, Jewish related charities, along with Yeshiva University. Which big charities have been hit? Asking because I haven't heard.

[dutchman]

I think Brandies University was one of the bigger endowments to get caught up in this. Now, it falls into your category of being "Jewish", but there are plenty of gentiles (and even a few fellow pagans) that I know who went there, and it would be a shame to see that institution get hurt.

[dutchman]

Also, a lot of endowments and foundations got hurt by Maddoff indirectly, by investing via funds of funds. Two big ones, Tremont and UBP, are widely used in the eleemosynary world. Now, because these funds of funds tend to be diversified across 30 or more other hedge funds, the percentage loss was minimal (small single digits). But trust me, a very large percentage of endowment and foundation investment committes will have Maddoff as an agenda item at their year-end review meetings.

Peace,

Dutchman

[martiniandabotoxchaser]

I know the ACLU has lost some major contributions. Some colleges have also been effected.

[gop4obama]

Six degrees of separation from his money....

Sorry, couldn't help it.

I hope that the courts unwind the Madoff mess, and some restitution is made to investors like Kevin Bacon who lost money through the fraud, and that the investors that profited early on, perhaps knowing of the fraud scheme, will be forced to return their wrongful gains.

[eggman]

There's no reason to think that early investors were aware of Madoff's fraud and no reason why their gains should be considered "wrongful."

[We]

he can make a quick $5 shoveling the snow off my Canadian sidewalk. joking.

[UnknownSoldier]

$5 dollars that wouldn't even get a cup of Starbucks Coffee nowadays, jeesh, talk about cheap

[rigormrtis]

Wondering when people who were swindled by Madoff ask for bailout funds.

[Aitch5]

uuuhhh, I think they will make it. ........... Anyway his wife has steady work on that TV show.

[iLLogicaL]

Sorry, but these guys had to know there was some sort of funny business going on. They weren't asking questions because they loved the great, impossibly great, returns. And now they learn a very painful lesson.

But it's a lot harder to swindle someone who isn't greedy. Kevin, and so many others, got greedy. They knew something was amiss, they just figured it was other people getting swindled, and they were okay with that. Well, now they get what's called comeuppance.

[hortonhearsawho2]

T.V. cameras gotthe Jury box...ear flaps on everyone.

[plwood01]

How in the world would you know whether or not these people knew anything or not? There are many people who trusted others with their money who ended up giving it to Madoff! It seems that everyone is guilty until proven innocent in this country! Where is your concern for these people's children? Plus, I have never heard anything bad about these two people who are working at their craft and careers just like those Americans who still have jobs...one of the reasons this country is in the tank is because of negativity, envy, greed, and ego of those who think they are better than everyone else. I never heard or seen that from Kevin or Kiara, I am only hearing that type of rhetoric from you! I wonder why that is exactly? Everyone has the right to invest their money, but Madoff did not have the right to do what he did with it when people were trusting him, his friends, their friends etc., and everyone in America wants to make some money without working hard for it sometimes! That is how we buy all the stuff that doesn't really matter!

[iLLogicaL]

Sorry to have ruffled your feathers, but my opinion stands. Some due diligence is required in life, particularly when you're investing millions of dollars. If they didn't do their homework, they are either incredibly naive and stupid, or they just didn't want to know how the straw kept turning into gold. So which is it?

[hortonhearsawho2]

Shoeless! if you can get kenny to do the soundtrack...