Leibovitz Losing Her Shirt

And I don’t mean that in the same sense as all of her celebrity models.

Apparently Annie Leibovitz consolidated her debt into a TWENTY FOUR MILLION DOLLAR consolidation loan. Let’s let that number sink in for a moment.

ANYHOW. She put her portfolio of art up as collateral, and now she’s defaulted on the loan. It seems very likely that she will end up losing all of her images, including the one of John Lennon and Yoko right before John was shot.

Can I just pose this question? WHAT THE HELL DID SHE BUY FOR 24 MILLION DOLLARS?!?!

And who gave her that much in loans?

I don’t understand how a single person can accumulate that much debt without someone at the bank going “hmm. I wonder if a photographer will actually be able to pay back this loan?”

I guess fame must have its privileges when it comes to banking.

I can’t imagine putting up my photos as collateral for a loan. Pure stupidity and lack of artistic integrity.