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The Etceterist | 03/30/2009 1:00 pm

Model Carmen Dell'Orefice Speaks Out on Life After Madoff

By Billy Norwich
© Getty Images
BILLY NORWICH: Carmen, I just read in one of the New York papers that after your 12-year marriage to the late real-estate magnate Norman Levy — the man who got you into Bernie Madoff’s fund, where you lost your entire life savings, the second time something like this has happened to you — you have gone back to work at age 77, and something called the Agency Sacks is helping give you a chance at a comeback. I see your modeling work all the time and didn’t think you had stopped working — unless all your salary was going to some charity?

CARMEN DELLOREFICE: First of all, I was never Mrs. Levy. Somebody must have somehow not read this month’s Vanity Fair [in which Carmen tells all about Bernie Madoff, her investment man and, with his wife, Ruth, one of Carmen’s best friends]. I didn’t want to be Mrs. Levy. Mr. Levy was a close friend, a bosom buddy, and he was a lifesaver for me when my first life savings was lost and I finally won the arbitration and got about three quarters of my life savings back. I settled, I didn’t want to go to trial.

BILLY: How did you win?

CARMEN: I had some very good help. Randy Jones of Worth magazine did a ten-page story after David Susskind died. It was David’s broker, you see. Of course, I thought David was the smartest man around and he’d have the smartest broker … I did it twice in my lifetime! The same mistake!

BILLY: I guess you will never invest in the stock market again, will you?

CARMEN: Of course I would.

BILLY: Really? What qualities would you look for in your broker?

CARMEN: I would take whatever percentage per year that the “normal” person makes on his or her investments and never, ever expect to make more than my neighbor can because I would now know, I would know — not even suspect — that some injustice is going on (laughs wryly) when you are getting more than your neighbor!

BILLY: Very wise.

CARMEN: I’d know goldmines and oil wells are a no-no to invest in, and that the word “margin” is also a no-no. All kidding aside, stupid I am not. The worst that happens with me is I am uninformed and too trusting of the experts, but the next time around I will make it an occupation to be vigilant and watch when I put money back into the market because, yes, I believe in America and the basic integrity of this country as a leading nation in the world. So, therefore, I will invest again someday, or I hope to.

BILLY: You sound so upbeat. Since I met you — even the first time you lost your savings and now this second time around — you have this amazingly positive attitude. You sound so enthusiastic. No one I talk to these days is enthusiastic about anything except their next drink.

CARMEN: Well, I am enthusiastic.

BILLY: About what?

CARMEN: About living!

BILLY: How do you sustain that attitude? Are you really so forgiving?

CARMEN: I move right along; I live every day in that day. I try to look at the facts, and at my participation. I am not a victim, and I look at what I can change and do differently moving forward. I’m grateful. Gratitude is very important — gratitude to myself when I get it right and to other people.

BILLY: And this notion that you are going back to work — you never stopped working, did you?

28 Reader Comments (so far…) Sign In or Register to comment

nanchanu

This is a lady.  Best of luck to you, Carmen.  You are a true beauty, inside and out.

By nanchanu on 03/30/2009 1:28 pm
BellaMia
Did you ask her if she believes if Ruthie knew the truth?
By BellaMia on 03/30/2009 1:40 pm
LC4
What a smart, beautiful and unpretentious woman! What a positive attitude in the face of misfortune! What an inspiration!
By LC4 on 03/30/2009 3:59 pm
Barbara1
Yes, what is missing is what she really thinks about her "best friends" Bernie and Ruth Madhoff.
By Barbara1 on 03/30/2009 4:00 pm
SamMirando

An inspiration indeed.  But many of Madoff’s victims are not as employable as Carmen (or as beautiful).  However, I admire her particularly for admitting her age.  I have never been shy about admitting mine and I hope she sets a trend. 

I lost money in the Madoff scam, not enough to destroy my life or my lifestyle but enough to put the brakes on spending for a good while.  My children will inherit less but they will manage too.  And what do I "really think" about the Madoffs?  I knew them only at one remove.  They were very close friends of an acquaintance of ours, who lost far far more than we did.  

Am I angry at the Madoffs and our wealthy acquaintance?  No, not really.  There doesn’t seem to be any connection between my loss and the man who is in jail.  I’d have been angry if he was still in his penthouse and I am waiting for the Feds to take everything from Ruth and other members of the Madoff family.  However, I am content to let justice run its course without allowing Madoff the satisfaction of destroying my sense of wellbeing and my love of life.  To allow anger to eat away at me would be to allow Madoff to steal more from me than he already took.  So I’m a lot poorer but still smiling and still enjoying the beautiful spring flowers in my garden.

By SamMirando on 03/30/2009 4:29 pm
LC4

You are also an inspiration!  I applaud your strength ! You have not allowed Madoff to defeat you! You have declared  in a powerful voice that you are  incharge of  your life and not anyone nor anything is going to steal your joy! There are so many who’ve looked at their misfortune as the end of the world . Individuals who feel there’s no hope. I hope once some time has pasted they will be able to adopt the same positive attitude both you and Carmen have. 

I was  disappointed that she did not share her feelings about the Madoffs. What vile, ruthless  and heartless people! She said they were her good friends. You know the expression with friends like these who needs enemies!

 

By LC4 on 03/30/2009 8:41 pm
LC4
Sam, I feel like the ignored stepdaughter. You did not like my reply to your words? You acknowledged K S.
By LC4 on 04/01/2009 8:16 am
SamMirando

Whoa, I am so sorry!  I didn’t mean to ignore you.  Thank you, also, for your kind and supportive comments.  Please include yourself a bona fide member of my on-line family of friends. 

You wrote,

"many who’ve looked at their misfortune as the end of the world. Individuals who feel there’s no hope. I hope once some time has past they will be able to adopt the same positive attitude both you and Carmen have." 

I think that, for some people, their losses have been akin to the end of their worlds.  There are elderly people in nursing homes with no money to pay the next month’s charges and many working people who have lost any chance of a comfortable retirement.  It is much harder for such unfortunates to pick themselves up than it has been for me.  Moreover, my parents were both penniless refugees and I was taught, from an early age, that money comes and goes and that, if need be, I should clean toilets.  They also said that the one form of riches that nobody can steal is an education.  Not only does an education make it easier for a person to make a living but, also, it provides mental resources when, by contrast, many are made happy only by what money can buy.  

I count my blessings - and your kind words are among them. 

By SamMirando on 04/01/2009 9:50 am
lindacluckwilcox
My compliments Sam…your thoughts are inspiring…. not allowing anger to eat away at you as it would allow Madoff to take more from you than money is simple and yet profound. Thoughts I will file away and hopefully recover when things go wrong in life. This actually makes for a good motto…..well done. Linda Cluck Wilcox
By lindacluckwilcox on 04/03/2009 1:24 am
KaySara
You are am inspiration also, Sam.   There is no such thing as "security" in this life and there is such freedom when accept that it is entirely possible "here today gone tomorrow" could happen at anytime and to anyone.   We love the comfort of routines and loss is so hard due to the change in our familiar routine.  So many Americans - world citizens- have lost so much in this horrible economy in addition to those betrayed by Madoff.  Whether you lost it by Madoff or due to those who brought down the system with their corruption & greed of subprime products we are all living on a lot less.  Both are tragic, both are victims - there are a lot of us.  I am impressed with your acceptance and attitude, Sam.
By KaySara on 03/30/2009 5:51 pm
SuzannedeCornelia1
The premise behind Jeff Javis’s book "What Would Google Do?" is that we are all entrepreneurs now…
By SuzannedeCornelia1 on 03/30/2009 7:38 pm
SamMirando

Thanks for your kind words, Kay Sara.  We are all, indeed, living on a lot less and "a trouble shared is a trouble halved."  I have one friend whose husband is still minting money; she goes shopping every day.  It seems so quaintly old-fashioned :)

I should add, however, that we didn’t lose our life savings.  We did lose money that we worked for but, fortunately, we did not have all our eggs in one basket.  I am sure I would be singing a different tune if I had lost everything that I had ever saved.  I am not more resilient than those who are enraged, angry, depressed and grieving - I’m just luckier.

By SamMirando on 03/30/2009 9:12 pm
ChromeToe
i don’t think there’s been another person on this site that i’ve been MORE impressed with. Maybe as  impressed. Maybe. I completely aspire to be this woman… barring the beauty. i wasn’t born a ford model. but her attitude about life and loss and all of it… that’s what I want! she’s incredible. cheers to you Carmen!
By ChromeToe on 03/30/2009 7:25 pm
SuzannedeCornelia1

Who in the world is an equal to the beautiful, elegant, classy Carmen Dell’Orefice? Queen Rania of Jordan is the only one I can think of. 

I saw Ms. Dell’Orefice years ago when we were visiting the Upper East Side…and she is such a vision of natural grace, delicate as a bird.  Was very sorry to hear of this when she was interviewed on TV, but with her transcendant attitude and spirit, and not to diminish her loss, but imagine she’ll have all back in no time.

Hers is an autobiography I’d love to read. She could sign a deal and with the advance hire a ghostwriter to organize the outline, and Ms. Dell’Orefice can record the chapters, have them transcribed, and then edit those.  Just a thought….and with lots of good wishes for a true lady.

 

By SuzannedeCornelia1 on 03/30/2009 7:36 pm
JoanCimon
By JoanCimon on 04/05/2009 2:42 pm