was. Like all the Knowles sisters, Connie married for love. Michael Gray was a knockout in those days. He was pretty gorgeous, but back then he still had his football playerâs physique, as well as the chiseled, Armani-model features that made all the secretaries at Lehman Brothers swoon.
Connie kept working as a lawyer until Cade was born. After that, there didnât seem much point. Michael was a partner at Lehman, earning millions of dollars a year in bonuses. Of course, most of that came in the form of stock options. But back then, who cared about that? Bank stocks were only moving one wayâup. If the Grays spent multiples of Mikeâs basic salary every year, they were only doing what everybody else was doing. If you wanted something expensive, like a Hamptons beach house or a Bentley or a $100,000 necklace for your wife on her anniversary, you borrowed against your stock. It was a simple, tax-efficient system and one that no one questioned.
Then Bear Stearns collapsed.
In hindsight, the failure of that venerable old New York institution in March 2008 was the beginning of the end for Michael and Connie Gray, and for thousands like them. But of course, hindsight is 20/20. At the time, Connie remembered, it still felt as if something seismic and awful and unimaginable was happening to someone else. Those were the best kind of tragedies. The kinds that were close enough to give you a frisson of terror and excitement, without actually affecting your life.
It was nine months now since the awful September day when Connieâs own world had collapsed. She still woke up some mornings feeling happy and content for a few blissful secondsâ¦until she remembered.
Lehman Brothers went bankrupt on September 16, 2008. Overnight, the Grays saw their net worth drop from somewhere around $20 million to about $1 millionâthe equity in their heavily mortgaged New York town house. Then the housing market dropped through the floor, and that million dollars fell to $500,000. By Christmas theyâd sold everything but Connieâs jewelry and pulled the kids out of school. But the real problem was not so much the financial catastrophe itself, but Connie and Michaelâs polar opposite responses to their predicament.
Michael Gray was a good man. A trouper. And you couldnât keep a good man down. âJust think how many millions of people are worse off than we are,â he would tell Connie constantly. âWeâre lucky. We have each other, two terrific little boys, good friends, and some savings. Plus weâre both young enough to get out there and start earning again.â
Connie said, âOf course we are darling,â and kissed him.
Inside, she thought, Lucky? Are you out of your mind?
Connie Gray didnât want to âget out there and start earning.â She didnât want to dust herself off and try again. She didnât want to pack up her troubles in her old kit bag and smile, smile, smile, and if Michael spouted one more inane fucking platitude, so help her she would strangle him with his one remaining silk Hermès necktie.
Connie had no interest in becoming one of the credit crunchâs stoic, plucky survivors. The American Dream wasnât about surviving. It was about winning. Connie Gray wanted to be a winner. She had married a winner, and he had let her down. Now she must find a new protector, someone who could provide a decent life for her and her children.
The affair with Lenny Brookstein had not been planned.
Affair! Who am I kidding? It was a two-night stand. Lenny made that very clear last night.
Connie had always gotten along well with Graceâs illustrious husband. In happier times, she and Mike would have dinner with the Brooksteins regularly. Inevitably, it was Connie and Lenny who ended up screaming with laughter at some private joke. Grace used to tell Connie all the time, âYou know, itâs funny. You and Lenny are so similar. Youâre