"There is this weird schizophrenia at events like this … We know it's happening, but obviously it hasn't hit us yet. Of course we've been affected, anyone with a business has been affected, but if you were really hurting, if it were really affecting you, you wouldn't be here! I find it a bit ridiculous actually, almost like it's the cool hot topic to talk about at fancy parties is the economy, which seems very decadent … Sometimes I wonder, are these people going mad? Am I in the sinking Titanic? I think I'm in the sinking Titanic."

— Margherita Missoni, model, actress, heir to the Italian fashion house, at Chanel's Winter Wonderland ball on Friday. [NYO]