Lyric discussion by Requiem89 

Cover art for Vanity lyrics by Smashing Pumpkins, The

If you read postings on Billy Corgan's site, technically you would be correct. The name of the woman is not mentioned, but I believe this to be about Billy having a girl he knew come live with him when he learned she had become homeless. The relationship lasted little more than 6 weeks. eleanor, you've lost me in a haze of wine and cocaine gone out and cost me everything i blame broadcast in tv detail to call their own stories as i try to recapture our best in former glories

vanity cries, why?

He mentioned that she often got drunk and watched tv and she cried a lot. He felt sorry for her but could do little. He refferred to her as a ghost also. I think you guys nailed it dead on.