Before awards season kicked into full swing, we wondered whether starlets would go conservative with their red-carpet jewelry, given the tough economic times. The answer is no.

Christina Applegate, star of TV's "Samantha Who?" made the biggest statement with her accessories at last night's Screen Actors Guild Awards. She wore a pair of massive diamond hoops reportedly created by designer Lorraine Schwartz -- and they were definitely not recession-friendly.

The instant those earrings popped up on our TV screen, we kind of had to catch our breath. We applaud Applegate's daring, but paired with a bright green, draped dress, a flashy, flapper-style necklace, red lips and a Swarovski clutch, the overall effect was a bit too much. When you've got a pair of diamond stunners like those, you can pretty much go naked.