Sunday, October 25, 2009

Annie Leibovitz is heading towards bankruptcy.



By Johanna Neuman
Posted By Rico K Setyo

The photo was released by the White House today, the official portrait of the current occupants of 1600 Pennsylvania Ave. -- President Obama, 8-year-old Sasha, First Lady Michelle Obama and 11-year-old Malia. The photo was taken Sept. 1, and the subjects were all smiles.

The back story is anything but. Leibovitz is best known for her celebrity photos -- like the famous one she did of John Lennon and Yoko Ono the day the former Beatle was gunned down, or the one she did of a pregnant Demi Moore, posing nude.

But lately the photographer to the stars has been embroiled in a financial mess that could lead to bankruptcy and the loss of her photographic catalog. As Gawker.com put it, the Obama photo was taken one week before Leibovitz's deadline to repay a $24-million loan to "high-end artsharks Art Capital Group."

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