<![CDATA[Jezebel: mo money mo problems]]> http://tags.gawker.com/assets/base/img/thumbs140x140/jezebel.com.png <![CDATA[Jezebel: mo money mo problems]]> http://jezebel.com/tag/momoneymoproblems http://jezebel.com/tag/momoneymoproblems <![CDATA[For Love Or Money: Is It Cool To Hide Cash From Your Partner?]]> Marriage! A partnership where what's yours is mine and what's mine is yours. Unless you're Nazita Aminpour: She's suing Chase bank for notifying her husband of her (secret) individual account with $800,000 in it.

Aminpour, of Kew Gardens, Queens, NY, is a dentist. While she and husband David Shamash have a joint account with Chase, she never informed him of her own personal account. Here's what happened: A bank employee cold-called Shamash, suggesting he take "his" money out of that account and invest it in other ways. Naturally, he started "harassing" his wife for money, asking for funds to invest in the stock market. According to the law suit, he "alienat[ed]" Aminipour until she gave him $155,000 "to save her marriage and restore order in the marital home."

So many questions here, the first of which is this: Is it cool to keep a "secret" account your husband knows nothing about? On the one hand, if you've pledged to be with this person until death, surely you trust them enough to say, hey, listen, I have another cash stash? On the other hand, obviously this woman knew her husband very well: Keeping her finances hush-hush was wise, considering the minute he found out about the cash, he started "harassing" her. Who knows? Maybe she was saving to buy them both a house or vacation and knew he'd be risky and irresponsible with the money. Then again, as the famous quote goes, "Secrets are made to be found out with time."

In general, nothing comes between people like money woes. But is it better to be honest, no matter what? Or is it okay to hide a "secret" bank account from your husband (or wife)? And what is up with Chase spilling the beans in a cold call?!?!

Woman Sues Chase For Telling Hubby About Secret Cash [Gothamist]

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<![CDATA[Made In New York]]> Sometimes you get the feeling that Times editors are just asking for it. [NY Times]

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<![CDATA[Elle Writer's Solution To Poverty Is A Superiority Complex]]> Bliss Broyard's rich friends used to love giving her stuff. At least that's what Broyard, author of One Drop, a memoir about her father's lifelong concealment of his black heritage, claims in this month's Elle. Elle's cover bills the piece as a guide to hanging out with people richer than you — no doubt useful in these lean times — but it's actually a weird exercise in entitlement and rationalization likely to piss off rich and poor alike.

Broyard writes that she hates her parents "for raising me to want a lifestyle that they can't pay for." She continues (all in present tense, despite the fact that her narrative spans twenty years):

Growing up, I take for granted that I will one day be wealthy, too. To make or marry money was the natural trajectory for young women like me — women who attend prep school and a "public Ivy," who know how to tack into the wind and volley a tennis ball and keep their skis clamped tightly against each other. No matter how mortgaged my parents' lifestyle has been, I have apprenticed as a rich person for all my young life and am prepared to move into the position. But that's not what happens.

Instead, she becomes a writer. "As long as I can earn enough to cover the basic necessities — rent, food, and health insurance," she says, "I prefer to avoid long hours in a job I don't like or a marriage in which my responsibilities and power will be predicated to some degree on my earnings." First of all, a writer who can comfortably cover rent, food, and health insurance is rich to me. Second, although she later swears she has friends with fun, high-paying jobs or fun, rich spouses, it's clear she actually looks down on her rich friends.

When getting free clothes from her rich friend Olivia, she notices that it's hard for Olivia to be giving handouts all the time — "everyone grows increasingly pleasant and solicitous around Christmas [...] and then the feigned surprise and exaggerated gratitude when the cash or check appears." Broyard, though, is different:

I give my wealthy girlfriends something, too. As a reminder of how the other half lives, I help keep them grounded amid charity auctions, private jet rides, and vacation plans that cost more than their kids' tuition. [...] Having me in their lives is proof that their kind of people aren't only rich people. And I allow them one of the great pleasures of having money — spontaneous generosity without guilt or expectation.

See, Broyard is totally different from those freeloaders, because she makes her friends feel good about themselves. Because otherwise they'd feel awful, with all that money. And maybe (although she doesn't explicitly say this in the article) something about her difference has to do with her faux-wealthy upbringing — she's just like a rich person, except she's poor! Her recipe for hanging out with rich people seems to be: wish you were rich (like you were supposed to be)... then feel superior when you're not!

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<![CDATA[How Much Is a Marriage Worth?]]> The news of Heather Mills McCartney's nearly $49 million divorce settlement was the talk of both the tabloids and legitimate news sources yesterday, and it wasn't just because Mills' split from Paul McCartney was so acrimonious. The haggling over money when one spouse is far wealthier than the other begs the question: How much is a marriage "worth"? Pundits and the peanut gallery alike have been griping about Mills's payday — she will receive the equivalent of $1,300 an hour for every hour of her four-year marriage to Paul McCartney. During a segment about the McCartneys and the price of marriage on GMA this morning, the implication was that a wife only deserves that kind of money when her presence helped a husband create his fortune.

Lorna Wendt, the ex-wife of GE Capital CEO George Wendt, was originally offered $8 million following the couple's divorce after 32 years of marriage. Lorna thought she was worth half of the $100 million fortune George had amassed, and after taking her ex to court, ended up receiving $20 million. She told Fortune magazine: "I complemented him by keeping the home fires burning and by raising a family and by being the CEO of the Wendt corporation and by running the household and grounds and social and emotional ties so he could go out and work very hard at what he was good at... If marriage isn't a partnership between equals, then why get married? If you knew that some husband or judge down the road was going to say, 'You're a 30% part of this marriage, and he's a 70% part,' would you get married?"

Arguably, Mills never created any sort of McCartney corporation. Nearly all of her ex-husband's money and success had been amassed long before she came on the scene. But does that mean she deserves less of the pie? Then there's the couple's young daughter, 4-year-old Beatrice. In addition to the $49 million, McCartney will pay $70,000 a year for Beatrice's nanny and school fees. To this sum, Mills griped, "[Beatrice is] obviously meant to travel B class while her father travels A class."

The court of John Q. Public has been, well, less than sympathetic to Mills In the comments section of a New York Times item analyzing the press coverage of her, reader "wendy" says of Mills, "Another money hungry 'female dog' that gives us good women a bad "name". You didn't have it when you met him and shouldn't have it when you leave him..." No one but the people involved know the real details about the Mills-McCartney marriage, though the pair's divorce proceedings will be made public as per a court decision today, despite an appeal from Mills yesterday. But again: even if we knew the intimate details, how do we put a price on them?

A Well-Covered End To The McCartney-Mills Marriage [NY Times]
The Price Of Romance [Guardian]
It's Her Job Too: Lorna Wendt's $20 Million Divorce Case Is The Shot Heard 'Round The Water Cooler [Fortune]
McCartney Divorce Ruling To Be Released [AP via Yahoo]

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<![CDATA[Human Condition Got Ya Down? Take It From Ryan Reynolds And My Drugstore Cashier: You're Better Off Broke]]> Just bought People at Duane Reade, where the following interaction occurred:
Clerk: Oh, his first name is Owen... For some reason I thought it was his last name.
Me: Um, yeah, his brother, Luke Wilson, was actually in a reaaaally awful romcom with Kate Hudson once, which makes the whole thing sort of confusing.
Clerk: I was, like, telling one of my friends about it, and I was saying, you know, the guy with the funny nose! Who always seemed so cool! I loved him in You, Me and Dupree. He always looks like he's having such a great time...
Me:: Yeah, he was sort of like, least likely to be all depressed, right?
Clerk: Well you know they say rich people are, on the whole, less happy than the majority of us.

While on the whole, the picture is a bit more complicated than this, we think it's safe to say that on the whole, the less we know about wealthy people, the happier we are. But we bought People anyway and realized there are exceptions: reading erstwhile Scar-beau Ryan Reynolds testifying to the fact that money doesn't buy happiness can, in a small way, make us marginally sorta happier.

Says Ryan on the "swag at industry events":

I have very little patience with all that stuff. It's pretty crazy. It's like, 'Why don't you go to the Prada tent or the Adidas tent?' And you're like, 'Is this the free shoes for the rich program?' I don't understand. Why are all these people lining up? You made $20 million last year!
Sigh. In fact, swoon. Please tell us he dumped that dumb bitch we so irrationally loathe already.]]>
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