Like a depressing microcosm of the problems afflicting the world at large, Miami Art Basel was a shadow of its former wild and ostentatious self and has drawn to a close, leaving debt, hangovers, and photos of Pamela Anderson's ass in its wake. Despite elaborate prevarication from certain onlookers, the combination of thinner crowds, a subdued mood, and desperate discounts left no one in any doubt that the art bubble has truly burst.

♦ As we've heard, the financial crisis isn't stopping the benefit crowd from turning out, and Tuesday night's New Yorkers for Children Annual Fall Gala managed to rake in $1.85 million with the help of Mariska Hargitay, Julianne Moore, Juliana Margulies, Christine and Steve Schwarzman, Andrew Saffir and Daniel Benedict, Campion Platt, Lauren Remington Platt, Annelise Peterson, Adam Lippes, Patti LaBelle, Annie Churchill, Oscar de la Renta, Moises de la Renta, Julie Macklowe, Nancy Jarecki, Hope Atherton, Olivia Palermo, Holly Dunlap, Denise Wohl, Frederic Fekkai, John Demsey, Jeff Zucker, Gillian Hearst Simonds, Kelly Killoren Bensimon, Zac Posen, Lola Schnabel, Tory Burch and Lyor Cohen, Robert and Nanette Lepore, Isabel and Ruben Toledo, Olivia Chantecaille, Gillian and Sylvester Miniter, Julia Restoin Roitfeld (pictured), Zani Gugelmann, Peter Davis, Lydia Fenet, Bettina Zilkha, Stephanie Winston Wolkoff, Dayssi Olarte de Kanavos, Meredith Melling Burke, Muffie Potter Aston, Jamee Gregory, Heather Mnuchin, Aerin Lauder Zinterhofer, Jamie Tisch, Amanda Cutter Brooks, Marjorie Gubelmann, Poppy de Villeneuve, Jennifer Creel, Marina Rust Connor, Sylvana Soto-Ward, Jessica Joffe, Taylor Momsen, Blake Lively, Jimmy Fallon, Kevin Liles, Beyoncé and Jay-Z, Gayle King, Gilles Mendel, Maggie Betts, Topper and Tinsley Mortimer, Monet Mazur and Alex de Rakoff, Joy Bryant, Kelly Klein, Sylvana Soto-Ward, Horacio Silva, Patrick McMullan, Fabiola Beracasa, and Angel Sanchez. [The Daily, Park Ave Peerage, PMc]