As the economical crisis continues the arts are suffering some of the consequences as well. Some small orchestras fold and art foundations disappear. Existing orchestras reduce the number of players and schedule fewer concerts. But nobody really expected such sign of trouble from The Metropolitan Opera company in Lincoln Center.
It was shocking to hear that the opera company borrowed money against the giant Chagall paintings hanging in the opera house's lobby. This year's deficit is apparently $40 million and the endowment shrank from over $300 million to about $200 million.
This is some scary news to the music world.
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