The recession is hitting even the Hollywood elite. Ok..maybe I shouldn’t make fun of Stephen Baldwin..he certainly wouldn’t be considered A-List. But you get my point…when you have to file bankruptcy over a measly $2 mil in L.A. you know things are bad.

The 43-year-old actor filed for Chapter 11 protection claiming he owes more than $2.3 million and owns a New York property valued at only $1.1 million. His wife, Kennya Baldwin, also is named in the document.

It’s been a rough year for the “Christian” Baldwin….a homeless man he let live on his property was arrested on heroin charges..his home is about to be foreclosed on and he had to leave the only paying gig he’s had in a long time when the bug bites got too rough for him on “I”m A Celebrity Get Me Out Of Here.”

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After a crazy, twitter-fueled weekend that had Lindsay Lohan thinking she was going to be facing arrest…Fox News is reporting that LiLo is now staying in a “therapeutic environment” organized by fellow actors Stephen and Danny Baldwin.

“Lindsay is still able to go to work and meetings and do normal things,” said our insider. “But she wants to remove the negative influences in her life.”

Reformed rehabber himself Daniel Baldwin is devoting a great deal of time and energy into making sure the young starlet doesn’t fall back into her wild ways.

“Lindsay’s doing great, her sobriety is the most important thing to her,” Baldwin told Tarts in an exclusive statement on Wednesday. “She is taking all the necessary measures and actions for her continued health.”

That’s crazy. In rehab run by the Baldwins. Let us know how that works out for you Linds.