New York

Some people are wondering about Steve Madden's ulterior motives for providing an almost $50 million loan to Betsey Johnson.

If the girlie designer does not repay the money in two years the shoe king will be in a position to take over her company which is being seen as the real play. Madden already holds a license for handbags, small leather goods, belts and umbrellas under the Betsey Johnson and Betseyville trademarks. Johnson who just turned 68 also put up personal property.

<<Betsey may not be all smiles for very long, especially if she is not able to pay back her loan from Steve Madden which could as a result cost her everything.
Betsey Johnson Spring/Summer 2010 - New York
© 2010 fashionWATCH Photo: Steve Wood