I never thought that all the crazy economic bailouts would have anything to do with my favorite designer, but earlier this month Betsey Johnson made headline news when she needed bailout of her own.

By Steve Madden, to be exact.

I already knew that Madden has licensed Betsey’s handbags and belts for a while, but I couldn’t believe that the buyout rumors were true! Ok, ok, so maybe Betsey needed the help. Desperately. Something about a default on a, well, little $48.8 million loan…but come on!

I have actually decided that this is a good move, for both Betsey and Steve. At first, I was worried that Betsey would lose her flair for the daring if she became a drone in the Madden empire, but I had to remind myself that I love Madden’s designs and Betsey is too true to her art to ever let down her fans. If nothing else, Betsey’s designs can be even more daring with all of the funding that Steve has to offer.

In fact, Steve has already announced that he wants to increase shoe and day dress production- two of my favorite Betsey Johnson designs! I’m hoping that her 2011 lines will have lots of bold and flirty colors combined with her over-the-top embellishments. Will animal prints be in play? I doubt Betsey could do without them.

Now that Steve and Betsey have teamed up, there are a few items I would love to see from the dynamic duo (I can dream, can’t I?):

• A Betsey inspired heel in zebra print
• Chunky jewelry that pairs feminine delicacy with some vintage textures
• A purse that offers Madden’s utility combined with Betsey’s design

What would you like to see?