Kyra Sedgwick: we didn’t lose everything with Bernie Madoff

kyra sedgwick star 080609
Kyra Sedgwick and Kevin Bacon are one of Hollywood’s most stable and likable couples. You hardly hear anything about them because there’s not much to gossip about – they seem to have a loving relationship and a happy family. They’ve been married for over 20 years and have two children, Travis, 19, and Sosie, 17.

Unfortunately Kyra and Kevin got quite a bit of press late last year when the Bernie Madoff Ponzi scheme came to light. They were among thousands of other high net worth individuals who were bilked in Madoff’s massive investment scam.

In January, Kevin talked about losing his investments in general terms, and seemed to suggest that he and Kyra were financially wiped out. He said “There are a lot of things I’m grateful for: my health, my family, my career, my family’s health. Things could be worse.” He added that he was looking for a job and needed “to work, for obvious reasons.” It was known that he and Kyra had some real estate, but it was thought that they weren’t left with much.

Now Kyra has broken her silence on the issue, and she maintains that they weren’t financially ruined, but admits they did lose “hard earned money”:

Kyra Sedgwick and her actor-husband, Kevin Bacon, managed to stay out of the gossip pages until they were among the many victims of the massive Ponzi scheme run by financier Bernard Madoff.

“I think the interesting thing about it was that I always thought, `We’re so boring. We should be in the tabloids more. C’mon honey, let’s have a scandal,’” the 43-year-old actress said.

“Well, it wasn’t the truth that we were destroyed,” Sedgwick said in a recent conference call from New York. “And I think when you say `no comment,’ that’s, of course, where they’re going to go, because it’s fun and it grabs headlines and people will be more interested.”

“It’s been really unpleasant and makes you feel really vulnerable. But the fact of the matter is that we did not lose everything,” she said. “We lost hard-earned money that we worked very hard for that was what we thought in a safe place. It’s painful but a lot of people lost a lot more. And we have a lot of things to be grateful for in our life, and we never ever forget that.”

[From AP via Huffington Post]

I like how Kevin and Kyra put things in perspective and seem genuinely grateful for the good things they’ve received in life. They seem like good people who deserve to have a comfortable and happy life. It looks like they’ve found it, even as they lost some material things along the way.

Kyra Sedgwick is shown getting her star on the Hollywood Walk of Fame on 6/8/09. Credit:

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18 Responses to “Kyra Sedgwick: we didn’t lose everything with Bernie Madoff”

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  1. diddy says:

    aww i love her, one of my fav tv show is ‘the closer’ she is great and funny on that…

    Her and kevin should be an inspiration to many in hollywood in how to have a long marriage in that town.

  2. Bittercup says:

    Always liked this couple..they seem more normal than most Hollywood types and keep to themselves. They don’t make a habit of pimping out the details of their life and family.That’s probably one of the reasons their marriage has survived.

    As Ramona Singer would say”Kadoos” to them!

  3. BiggieShortie says:

    Can’t hate on this couple. They seem genuine and appreciative of what they’ve got. All too rare in HW.

  4. SolitaryAngel says:

    I LOVE them! This is so sweet–and that they’ve been together so long is a wonderful thing. I hope they’re together forever!

    It’s SO refreshing to hear actual Hollywood actors who are real people; no backstabbing, smack-talking, or treating people badly. This story just cheered me up. :-)

  5. gooniegirl says:

    Redundant, I know…but I like them!!

  6. surely would says:

    In the EW interview AP got its story from, she said they only lost a pension, not everything. Just read it this morning at the gym so it’s very fresh in my head!

    She also said she wanted to do romantic comedy and she hoped they’d call before her face wasn’t so pretty, heh.

  7. tasteT says:

    I’ve always loved this couple.

  8. fizXgirl314 says:

    she looks like she got some bad botox or something…

  9. michellle says:

    I’m sure they’re lovely people, although I’ve never been a big fan. However the comment, hard earned money strikes me as a bit funny considering famous actors are usually paid more than their worth for simply playing at pretend. Not to mention it stands to reason that people living so comfortably surely have sufficient free time to scrutinize their own investments. Thought it was safe, give me a break, Madoff’s investments always got 15% returns regardless of the market. That in itself should have alerted them. Moreover, he never came through on required disclosures. Perhaps I’m wrong but it sounds like they were either negligent or simply greedy.

  10. Cinderella says:

    Good thing she has her show to keep the money coming in.

    I wouldn’t hate on them because they make a lot of money in entertainment. There are highs and lows that go along with that. Plus they’re a decent couple, so good for them.

    I also wouldn’t assume every entertainer knows exactly what they’re worth at any given moment. If they’re steadily working, they probably have very little personal time. That’s why they pay people to take care of their finances, not defraud them. I would also imagine that many do not have finance backgrounds, and that’s okay.

  11. Aspen says:

    I absolutely adore that woman.

  12. Persistent Cat says:

    I can’t hate on them either.

    As for actors being paid too much, yes, that is true however Kevin Bacon does mostly independent films and when he does larger movies, it’s usually supporting roles. He’s admitted that and is cool with it. So it’s not like he’s getting $20million a movie. And I’m sure she’s not making Seinfeld money for The Closer.

  13. j. ferber says:

    He lives in Manhattan and my brother saw him in the gym once. He was very low-key and nice, like I’d imagine he would be. I once spotted him myself and his daughter on the Upper West Side. He really blended in with the crowd, though I was beside myself with glee for spotting a star. My husband thought that was very uncool of me, which I’m sure it was.

  14. paranel says:

    I am glad she said that. I’ve always liked this couple and looks like she got her Hollywood star , well deserved. Glad they didn’t lose evrything.

  15. drm says:

    Sounds like a really unattractive case of envy there Michelle…how good of you to share your insightful comments with the rest of the world (insightful into your personality that is…)