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Lisa Marie Falcone Is Back, Baby!

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Thought a little $18 million fine and a 5-year ban from the securities industry for her husband was going to keep Her Fabulousness in the shadows, shut off from the world, inside her speakeasy/closet? Think again!

Five years and four days after the collapse of Lehman Brothers, the New York City Ballet Fall Gala was a glittering jumble of celebrity (Drew Barrymore, 50 Cent), finery (Chanel, Jar), and economic commentary (Wilbur Ross et alia). “People are ready to spend money -- they certainly spent a lot at Barneys today,” said hedge-fund manager Richard Perry, chairman of Barneys New York, who stood with 850 other guests under red and blue hot-air balloons filled with helium and anchored by ropes on the promenade of the David H. Koch Theater. The baskets were filled with red roses. “I think most people here are pretty well insulated from the economy,” said Wilbur Ross, founder of WL Ross & Co...Philip Falcone, whose bankrupt company LightSquared Inc. faces a fight over how to sell its assets, sat with his wife, Lisa Maria Falcone, a board member of the New York City Ballet, and diva Anna Netrebko, who on Monday performed a private concert at the home of Blackstone Group LP CEO Steve Schwarzman.

She kept things fairly tame with the butterfly/flapper ensemble but just waituntilshegets her sea legsback.

Scene Last Night: Ross, Falcone, Blavatnik Eye Ballet, Economy [Bloomberg]


Lisa Maria Falcone Had A Less Than Great Labor Day Weekend

It's no secret that one of our favorite hedge fund wives is Lisa Maria Falcone. Whether she's imploring bitches to throw their hands in air, hiring little people for her twin daughters' birthday party, spooning her pet pig, or simply flitting about town in outfits that go from gladiator chic to deconstructed "Like A Virgin," the woman is her own special brand of fabulous. LMF started keeping a considerably lower profile once her husband Phil's hedge fund hit a streak of bad luck though we always knew she'd be back. Unfortunately, we'd hoped the woman who does what she wants, haters of the Upper East Side be damned, would return with the news her production company was putting the finishing touches on Wilbur Falcone's debut album and not this: 2:25 p.m., 48-year-old Lisa Marie Falcone of Manhattan crashed her vehicle at the corner of Montauk Highway and Hayground Road in Bridgehampton, police said. She was found to be to be under the influence of alcohol and prescription medication, police said. Falcone...was charged with driving while intoxicated. Listen, lady: Throwing back a few cocktails when your closet is having two-for-one happy hour is one thing but getting loaded up on booze and pills and going for a drive is quite another. You could have hurt someone or yourself and then Phil would've had to raise Wilbur on his own. Is that what you want? 2 Charged With DWI Crashes in Hamptons [Long Island Press, mugshot via BI]