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Best Supporting Actress nominee Penelope Cruz hits the red carpet with a BOOM at the 2010 Academy Awards.  Cruz went for classic glamorama in a strapless burgundy Donna Karan.  It’s big, it’s poufy, it’s classic.  It’s perfect for the Oscars.

Cruz is nominated for playing a crazy-ass mistress in the movie musical Nine.  She won a Best Supporting Actress Oscar last year for playing another crazy-ass chick in Vicky Cristina Barcelona.  Nuts.  She was nuts.  In both films.

I’m so distracted by Kathy Ireland‘s crap job on the red carpet.  Sweet job on that hire, ABC.

Check out all of our 2010 Academy Awards coverage here!