Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Madoff Swag Hits eBay


Brief scrutiny of today's headlines.

Kids collect baseball cards. Teens collect hubcaps. Adults collect stamps. Some mass murderers collect body parts.

And now: The Bernie Madoff collection.

The alleged $50 billion Ponzi schemer put his name on T-shirts, umbrellas, tote bags, beach towels and even a cigar humidor to promote his fund. The mundane items are now offered on eBay (EBAY) to those who want a low-price, risk-free piece of the alleged scam.

Some call interest in the items sad, but funny in a gallows-humor sort of way. Maybe so, but who can live without a Madoff-branded cooler, golf cap, flashlight or binoculars?

No one would confuse this stuff with designer clothes and bids for most items didn't reach $50. Still, that's a good deal more than Madoff's fund was worth.

However, bidding on a fleece jacket -- oh, the irony -- has climbed over $600.

There's also a backpack. Some speculate Bernie used it to haul off the loot - but keep an eye out for that Madoff dump truck.

There's also a photocopy of a financial statement Madoff sent to a client on December 3rd. This could be an item for the Smithsonian or the Securities and Exchange Commission, because Madoff was arrested December 11th.

Leave it to the shrinks and sociologists to determine what it all means in the grand scheme -- oops, that word again -- of things.

One thing for sure: It's a way to squeeze a little value out of what's been a catastrophe for some investors and -- who knows -- that fleece jacket just might be a hit at the opera.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Featured Videos