Even best-selling writers can get scammed.

Maybe not by publishers or agents, but your money is just as lost:

http://www.cnn.com/2009/CRIME/01/09/madoff.alexandra.penney/index.html?eref=rss_topstories

Ann

I was always taught, "Don't put all your eggs in one basket."
It is still good advise.

But Abe, our money to live on the rest of our lives is in a variety of stocks, bonds, and real estate. Not one of those is doing well, however.

Carol

Talk to me. I have investment opportunities you never dreamed of.

"Some readers blasted her as a privileged New York princess. They told her to get a job. Others said they didn't feel sorry for her. Penney says she was surprised by the 'vitriol'."

This does not surprise me in the least. From my own experience, this is not an unusual reaction. There seems to be an unwritten rule that anyone who makes money from an artistic talent should give the money away to charity and not invest earned money in order to live off the interest (something that will provoke envy, jealousy and spitefulness). Having a comfortable life without actually working and living off previously earned money is somehow seen as unacceptable. We must work until we drop or die as paupers. Anything else is seen to be in some way immoral.

Jealousy is a vile disease. It seems some people are incapable of feeling pleasure for someone's success and compassion for their misfortune.

And there are those who moan about their misfortune, even exaggerating it to elicit pity or sympathy from others.

The task becomes one of discerning who is worthy of compassion and who is just seeking sympathy. I think it is obvious that she is not looking for sympathy and will do what she needs in order to survive her heartbreaking loss.

Shelagh wrote:

"Some readers blasted her as a privileged New York princess. They told her to get a job. Others said they didn't feel sorry for her. Penney says she was surprised by the 'vitriol'."

This does not surprise me in the least. From my own experience, this is not an unusual reaction. There seems to be an unwritten rule that anyone who makes money from an artistic talent should give the money away to charity and not invest earned money in order to live off the interest (something that will provoke envy, jealousy and spitefulness). Having a comfortable life without actually working and living off previously earned money is somehow seen as unacceptable. We must work until we drop or die as paupers. Anything else is seen to be in some way immoral.

How ridiculous--writing is the hardest work I have ever done.
Those mean folks need to get a grip.

If one is good at something---it can appear effortless. I used to tell stories for children--I laughed when people told me how easy it was for me.

We entertained alot also, one lady was amazed at how easy it was for me--she somehow overlooked the fact that we had two disiinterested teenagers I worked full time, etc.

I wrote about Bernie before reading this.
I know I'm an oddball, but I think people should work until they drop. And always offer words of encouragment like the big, tough shortstop on the ball team I coached. When the second baseman was injured a young kid who had never before been in a game went in to take his place. The batter then hit a towering fly ball right above the young kid's head. As he staggered around trying to get under it the big, tough shortstop called, "Drop that and I'll drop you!"

It would be nice to see more public anger over the fact that the Elie Wiesel Foundation, whose money was under management by this con man, lost most of its assets: $15 million.

None of this justifies what happened to Penny or the nasty stuff people are saying about her. Odd how the American dream is partly to earn a lot of money, but once we get it we're hated by those who don't have it.

Malcolm

Malcolm wrote:

Odd how the American dream is partly to earn a lot of money, but once we get it we're hated by those who don't have it.

A concept I find hard to grasp.

Must be a jealousy thing, Shelagh. Or, a sour grapes thing, meaning those with money "obviously" were lucky and didn't actually earn it.

Malcolm

I wrote the following as a blog in 2007. It ties in with some of the comments on this thread.
"Do people really want you to succeed?
Often the people close to you really don’t want you to succeed. You look to them for help and support only to discover that they have no interest in your success. Why? Is it because your success could be a threat to their complacency? Do they fear that you may rise above them in some manner? To your face they may smile and wish you luck, but behind your back it is another matter. They may even try to discourage you by telling you about all those who tried and failed. Could it be that the reason they know so much about failure is because they themselves have failed often? And perhaps since they didn’t succeed, they don’t want you to succeed. They want you to remain exactly where you are in a comfort zone that feels right to them.
You will find that people you don’t know so well are the ones that will offer you encouragement and support. You are no threat to them.
For advice, seek out people who have already achieved success. You will
find them to have an optimistic outlook and they will offer encouragement and assistance. They may find in you a kindred spirit and will point you in the right direction for additional support/assistance that will lead to success.
True friends you never lose. Those who want your friendship on their terms you can do without. As you travel on your road to success you will make new friends - people who share your visions and excitement. You will also discover that success attracts more success.
Enjoy the journey. Take the high road."

Malcolm wrote:

Must be a jealousy thing, Shelagh. Or, a sour grapes thing, meaning those with money "obviously" were lucky and didn't actually earn it.

Malcolm

I have a handle on the jealousy, it's the wanting to be super rich knowing you are going to be hated that I can't figure. But then again, I've never wanted to be enormously rich or tremendously famous. A little fame together with a little wealth would suit me just fine.