As much as I admire Ms. Leibovitz's work, she is just one more person who failed to live within her means. At least she has assets that her creditors can use to get paid.

If she wasn't sophisticated enough to understand what she was signing, she was at least affluent enough to hire someone who did.

If her work does end up in an auction house, Annie Leibovitz will not be the first artist obliged to sell her work to pay debts. With her enormous talent, outsized fees, and years in front of her, she will survive. I wish I could say the same for the many people facing financial ruin as a result of job loss or medical bills.

Hostage? How are they held hostage? Is my home being held hostage by my bank who holds the mortgage? If she defaults, then they paid $24M for them. That's a pretty hefty sum in any book.

What a shame that someone who is so brilliant at fine photography and marketing and who has had the good fortune to find a niche in a world of hundreds of thousands of photographers can be so clueless about money and financial discipline. Vast egos tend to warp personalties whether it's on Wall st. Washington politics, Board rooms or photo studios. What in the hell did she do with the $24 million not to mention her fabulous income?

Hey Annie ever go to bed with the devil? He usually expects you to put out !