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Kyra Sedgwick Speaks Out Against Bernie Madoff

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Kyra Sedgwick Speaks Out Against Bernie Madoff
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Kyra Sedgwick is angry. The star of the popular television series “The Closer”, as well as the co-star of several major Hollywood, watched helplessly as her husband, actor Kevin Bacon, lost a remarkable amount of money to convicted conman Bernie Madoff. The Ponzi scheme robbed Bacon of quite a bit of cash, which has understandably irritated his wife. Big time. However, during a recent interview with Piers Morgan, the “Something to Talk About” star explained how she’s attempted to keep the whole ordeal in perspective.

“I see him (Madoff) as a sick man. And I see us as adults who made a choice. And I see a lot of people who are so much worse off than we are, and I think that s**t happens,” Sedgwick explained.

In addition to Bacon, Madoff snatched large sums of money from other notable celebrities, as well. Counted amongst the con artist’s victims are filmmaker Steven Spielberg, actor John Malkovich, actress Zsa Zsa Gabor, and Larry King. If you’re curious to see just how many people Madoff managed to swindle out of their cash, take a look at the complete list of victims. If nothing else, the guy was certainly prolific.

Although Sedgwick has every right to be angry about the situation, she has kept a fairly level head regarding Madoff’s antics. When Morgan asked if Sedgwick would plant a bullet in his skull if given half the chance, the actress provided an insightful alternative. “He has a horrible life at this point. I think you (the media) hate him more than we do.”

In 2009, Bernie Madoff pled guilty to 11 charges of fraud, including securities fraud, wire fraud, mail fraud, money laundering, making false statements, perjury, theft from an employee benefit plan, and making false filings with the SEC. Over several years, Madoff manage to swindle $65 billion from his clients in what many have labeled the largest Ponzi scheme in history. He’s currently serving a 150-year prison sentence.

Kyra Sedgwick Speaks Out Against Bernie Madoff
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  • JW

    The star of the popular television series “Closure”, — its the Closer..

  • Kathleen Jordan

    The show is “The Closer,” not “Closure”.

  • Todd Rigney

    Whoops. Problem solved. Thanks for the heads up!

  • Judy

    This is a very poorly written article with conflicting facts and comments. The headlines do not reflect the article. Also, This happened years ago but is written like it occurred last week. Finally, the basic writing is pretty poor. Written language and reporting skill sure have deteriorated since print journalism took such a dive.

  • Michelle

    OMG! If you’re going to run an article, at least get the name of Kyra’s series correct! It’s The Closer…NOT Closure! Seriously!

  • Barbara

    I saw where you got the name right. Thank you. I was so excited, though. I thought she had a new series starting up, til I realized the mistake. This article really has nothing new to say. Ir she was promoting a new movie, then perhaps that movies should have been highlighted. I’m confused as to why this article was even written. ?

    • http://youravon.com/tfonner Theresa

      she will not be on the new one all the other people will though–and captian Raydor will be in charge it is called Major Crimes

  • Truthseeker

    I know just how you feel Kyra. Lou Pearlman stole all of our money, my husbands retirement, my brother who just had a stroke all of his money. It was tragic. They put my husband in a federal prison for 3 years for selling the product. He did not take a dime of money and they knew that. I believe Charlie Crist knew and looked the other way. I cannot tell you how my life has been destroyed as well as my family. I now have PTSD cannot stop crying and live on cereal and milk. The FBI even told us someone wanted to kill us. We have been stalked and I have had 4 guns held to my head. I know exactly how you feel and it is unbearable. I will pray for you and Kevin you all did not deserve that. God Bless your family and I am sorry that happened to you.

  • Barbara

    Hi. I’m back. I tried to find out why all the articles were online about Kyra Sedgwick & figured it wasn’t just due to Bernie Madoff. Kyra was talking about her upcoming move, “The Possession”, her work with rising her kids, feeling like an empty nester, and how she keeps her marriage on the burner to keep it nourished. She also has killed a ficus tree. Her family goes back to the Declaration of Independence signers, and they have a lot of mental illness and suicides. I actually learned a lot from an article I read. Not once was Bernie Madoff mentioned. Perhaps some of these items would have made a more relevant article.

    • http://yahoo hinkfirst

      Just from reading your comments I find you do not even know what you are commenting on and also find your comments on the low scale of crude and lacking in writing and language skills.

  • Kelly Smith

    WRONG…Largest PONZI SCHEME in US HISTORY IS >>>>>>>>> Social Security…

    • dominick. bellomo

      Madoff?what About the bush family history of murder and mayhem and the corrupt dems and repuplicans? since jfk america has gone to hell!

      • ART

        Are you really talking about the jfk that the family fortune was based on bootlegging and organized crime?

    • Peter Siipola

      no choice but to be involved—right?\
      on the madoff deal—if ya got what many had that got in—why do they need to risk it?

    • Barry Green

      Kelly, I thought that notion about Social Security was settled.That program is the most solid,stable,reliable,and beneficial of all social programs….and it’s paid for!!No GOV.money is added to it,and everyone who needs it,can get it!Paid for with payroll taxes,invested,and re-distributed WITHOUT creating a deficit,like tax amnesty,tx breaks,tax incentives,Pork Barrel spending is the Ponzi scheme…Where have you been?

  • Like it is

    Greedy people got sucked into his, to good to be true scheme and now they want to cry about it. If you lay with the dogs, you’ll come up with fleas.

  • Rob

    It’s an excellent diversion (the Bernie Madoff show). How very convenient it is, this distraction from: the money system ITSELF is a Ponzi scheme.

    But Kyra dear, keep on reciting the mass media (corporate mouthpiece) “programming” … be the nice little corporate puppet-monkey darling (for the Bread-and-Circus routine).

    By the very nature of “fractional reserve banking” there is not enough money in existence to pay off the debt AND the interest. That is how the money system works. It *always* requires more inflation.

    Anyone for musical chairs? … there once was a “republic” called America …

    “If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” ~ Andrew Jackson, 1829

    ~ Nearly two hundred years later and so few are paying attention to this ~

    How about, anyone for monetary reform ??? (or even Constitutional reform?) … instead of going on and on and on – mucking about with the SYMPTOMS – instead of addressing the CAUSE of the problem?

    • Shelley Nuss

      I like that. I have been saying for years that our government are the biggest thieves in the world. That is what you call “LEGAL THIEVERY”. See, they can steal from us everyday and get away with it. You would think will all the working people and the amount of taxes taken out that we wouldn’t have a deficit. But we have a deficit because our money goes into the pockets of the wonderful governments employees and so-called leaders in the senate & congress. Our money doesn’t fix anything because it is being stolen. And our government also continues to spend out of bounds amounts to continue to finance ways to kill us all in battle. We have enough bombs and shit to blow up a solar system. Why do we need to finance any more war related things? This country SUCKS big time, and for those red, white & blue lovers, stuff it. Communism is alive and well in the USA. And those of you who don’t see it, aren’t looking.

  • crowe

    apears that greed begets greed. in stead of investing the large sum of money that you apparently did need and trying to get even richer than you already are. give it to charity or feed the staving kind of this nation. its obvious you have it to throw away ther kyra!!!!!!!!!!!!!

  • jasmine

    good for her. what needs to be discussed is the ethics, or rather lack of ethics, that seems to dominate the business world these days and what madoff says, since i am a reform jew, about what madoff’s flim flamming, most of which impacted the jewish community and its welfare and education arms, say about the state of jewish ethics and morality today. of course, madoff is not the only person who raises this question.

  • Tom

    There is no defense of Madoff here, but Ms. Sedgwick (and the others) fell into two traps; each of their own making. First, and like the others, they fell into a trap sprung on other investors that was born of a failure to conduct sufficient research with which a sound judgement could be made. Second (and quite unlike others who declined to fall into the same trap), they failed to realize that Madoff’s claimed “returns” (which sounded to most as too good to be true), actually were too good to be true. Like most con men and politicians, Madoff was searching for people who were looking for “something for nothing” and, in return, he gave them “nothing for something”; a few fake dividend payments here and there, but their principal was long gone in order to keep the appearance, in the Ponzi tradition, that their investment was operating smoothly and would continue to outperform any other investment fund.

    • Hana

      Absolutely. I don’t feel sorry for people who fall into these traps sans adequate research. Wanting something for nothing makes everyone’s eyes bigger than his/her stomach – or rather, in this case, bigger than his/her brains.

  • Hana

    Good grief! What are some of you talking about? It is obvious many do not proofread before posting. Several posts are incomprehensible. The first post by Jasmine is not even readable.

    As for SSI being a Ponzi scheme — if you aren’t collecting it yet and you do so after you retire, talk to me again. I will suggest that you write a check to the government and pay it back. I would bet my house, my car and my bank account that you won’t be doing that once you have that money in your pocket.

    • Rob

      @Hana,

      SSI is the classic definition of a Ponzi scheme. It requires a continuous flow of new donors to pay off those receiving benefits. The only difference between Madoff and SSI (besides the fact Madoff’s $65B take is a pittance compared to SSI’s haul)is that Madoff’s victims chose to contribute to him; we have no choice but to contribute to SSI (assuming you’re working legally and paying taxes).

      As for your proposal that our benefits, that’s a nonesensical argument. I’ve been contributing to SSI since I was 16 and will end up paying in for 51 years(under the current law) before I can draw full benefits. Yet you imply I’m a hypocrite if I draw on the promise made to me by the government when it forcefully confiscated my wages? Ludicrous! By that standard, we should release Madoff immediately and give him 40 or 50 years to make good on *his* promises.

      • Hana

        You will be happy to have it when you collect it. Quit complaining.

  • Laura Harelson

    I love Kyra & all her work, INCLUDING HER MOVIES, omitted above. I am also a fan of her husband and am saddened at their suffering. However, what I really want to comment on is the lack of proof reading by the writer! A simple glance over before hitting send would send up a few red flags as to some simple mistakes.So deeply sad to see the end of “The Closer”, it’s been fantastic! Thank You!

    • John Nicoletti

      Please,someone explain to this humble commenter, what does one do with 65 billion dollars.? How many toilets do you need?, how many cars can you drive? Sick and sicker. Igues he has to get used to a stainless steel toilet seat, that can get pretty cold in jail. They should put ex lax in his meals.

  • Johnobody

    When a customer came into the pawn shop on Pawn Stars with Bernie Madoff’s Rolex and Rick Harrison refused to attach additional value to the watch because of its former owner, it gave me a feeling that justice was being done. As Harrison said, he (Madoff) robbed widows and orphans.

    I think history will keep Bernie Madoff where he belongs. He is not a villain with redeeming qualities. He was greedy. He demonstrated what humanity can do at its worst. He was trusted and betrayed that trust.

    As a watch geek, I have to say; Even though it would have been worth more money in unrestored condition, It was a nice watch until Bernie Madoff owned it.

    • johnsnare

      I saw that show, and Rick was a total class act.

  • Marje

    Kyra said as adults they had a choice. She is not asking for us to feel sorry for her. She also said there are many people worse off. Morgan asking if she would plant a bullet in his head was a terrible question. She answered it with dignity.
    Will miss The Closer. Kyra is one of my favorite actresses and will be watching all of her movies and any tv she does. Like Kevin too. I would love to see them do something together.

    • DougC

      Great post Marje. Kyra demonstrated a level of maturity that’s rare these days.

      • Eric

        well said. Totally agree, and posters like Pat L above just make me mad when they have to cut down successful people like Kyra who have worked their way to the top (deservedly so).

  • Jim

    Madoff was driven by greed and he duped other people who were also driven by greed as per the makeup of our sick society. Everyone involved were victims of their own greed, nothing more.

  • James

    Yes investing can be speculative, but this pericite(Madoff) should be on a rock pile somewhere making very big rocks very small ones.

  • pat i.

    OK….

    I have a neighbor. The man is single and has been retired for a number of years. Most of his investments are conservatively invested.
    he lives off the interest. He hasn’t lost a dime in the market.

    The we have the Sedgwick/Bacon power couple. Both rich, both highly paid, successful artists. Both failry young and working for money that most of us only dream of.

    People lose money everyday, Ms. Sedgwick – either through greed, stupidity, criminala acts,fate or world events. We don’t gnash our teeth and take to the airwaves. We suck it up and move on.

    My reitred friend lives well because he lives within his means and he’s not stupid or greedy. You and your husband, on the other hand are stupid and greedy. With all your fame and money, you just had to
    get 18% on your investment? Don’t you have enough houses, cars, etc?
    Couldn’t Kevin have invested the money in something safer – with a small yield.

    You’re angry. I can understand this. But have you been reduced to selling Mary kay on the side? Tupperware? Is your husband pulling a second shift at Burger King to make ends meet? Are the banks foreclosing on your house? Have you had to sell jewels or consign your designer wardrobe? Did hubby have to sell off his guitars? Pull your kids out of private school and cancel their Madarin lessons? NO?

    Then shut your pie hole.

    • Eric

      Your comment made no sense, and was selfish, judgmental, and frankly, spoken like a welfare person who believes simply because someone has more wealth they should just “suck it up”. Kyra and Kevin have worked hard for their earnings, and how they choose to invest it is their right and no one else’s business. I’m sorry they managed to earn their way towards wealth that is beyond YOUR reach, but why should you begrudge them for that? The issue here is they were *equally* siphoned off their hard earned money, just like anyone else, and she deserves the right to be angry. If anything, she recognizes that there are others worse off than Kevin and her. So YOU shut your pie hole and stop being jealous and ignorant.

  • Mark

    NEVER let someone besides yourself manage your finances. It’s easier to keep what you have than earn it all over again.

    • http://yahoo babs mason

      when you are a megastar as many of the swindled are; you have to have a manager you can trust. doing paperwork alone is a full time job. i speak from experience of being business owner, officer manager, accounting, full charge bookkeeping etc. things aren’t so simple as don’t trust anyone with your money. these stars wouldn’t be able to work and manage money there isn’ enough hours in the day. i worked for a corporation and wore many hats and it is too much for a person to keep up with. i am just glad the monster who swindled everyone is aforementioned case got a deserving jail sentence. i wish i wasn’t disabled and unable to work; i would be a good trustworthy manager for anyone’s business. used to run automotive business with husband. believe me; when you need to do the work that brings in the money, you have to trust that subordinates are honestly doing their job.