Alexandra Penney Madoff-ed

Alexandra Penney, the best-selling author, can probably take very little comfort from the news that Madoff investors may get money back.

Some of the investors who lost money in an alleged $50 billion fraud run by Bernard Madoff may be able to recover funds within the next few months from the Securities Investor Protection Corp, SIPC President Stephen Harbeck said this week.  SIPC is a non-profit agency set up by Congress to maintain a fund to help investors who had accounts at brokerage firms that failed. The fund, supported by broker dealer assessment fees, has $1.6 billion.

That seems pitifully small, even if the fraud  is only $17 billion as some suggest.

Alexandra Penney feels that Madoff is not a human being but rather a “Sociopath”.  With her life savings gone,  this ‘Madoff-ed’ best-selling writer is back at work.

Alexandra Penney is now blogging, voluminously.  Those interested can check out her Bag Lady Papers at the Daily Beast.  She discusses selling the cottage and possibly more real estate and taking her first subway ride in 30 years. Some of her expensive jewelry may even go to pay the bills.

• Bag Lady Papers – Introduction
• Part 2
• Part 3

Best known for the 1982 best-seller How to Make Love to a Man and many other titillatingly-titled sex-advice books, Penney and her friend Evelyn Lauder were the first to use pink ribbons as a symbol for breast cancer awareness.  Perhaps she’ll need to turn to a more recent book that she co-authored with the somewhat prophetic title, Magic Words: 101 Ways to Talk Your Way Through Life’s Challenges.  I’m sure she will rise to this biggest challenge of all.