In today's economic turmoil, won't someone please think of all the Wall Street wives?
There's a little (okay a lot) of schadenfreude going on about Wall Street, but I still find this article by Geraldine Baum for the Los Angeles Times about dashed dreams of Wall Street wives very interesting:
Fran Alvarez rarely spent lavishly, as she describes it, during the five years her husband, Carlos, 43, was making $250,000 writing software programs for Credit Suisse. He will be earning half that in his new job away from Wall Street. It was either that or sell the house with its $3,000 monthly mortgage.
At 41, Fran is the caretaker of their daughters, Gabriella, 6, and Isabella, 4. In the last five months she has gone back to her daughter-of-a-mechanic mentality. She canceled magazine subscriptions and expensive cable -- and stopped buying soft toilet paper.
"Growing up, my mom used to buy the scratchiest toilet paper, and when we complained she would say, "When you get your own job, you buy the expensive type,' " Fran says. "Well, we're back to the scratchy stuff."
(Photo: Carolyn Cole / LA Times)