Friday, August 12, 2011

Mad(off) props

Maybe you know that a few months back, the US marshals auctioned off some of Bernie Madoff's personal belongings. On NPR yesterday, I heard a story about where they ended up. Frederick James scored some pants and sweaters and turned them into iPad covers. You can get the pants version here for only $350. I've scoured the intertubes for photos of the Dior sweater one, but no luck. It was part of the first batch that sold out within a day, for $500 each.

Let's see if we can follow this: Madoff scammed a bunch of money, bought fancy (and not-so-fancy) clothing, got caught, and the US marshals sold his stuff to help repay his victims. Savvy guy buys the clothes, sews them into high-priced iPad sleeves, and sells them back to overpaid Wall Street types, who are currently using their Maddoff-clad iPads to figure out new ways to scam money. 

Mad props to the entrepreneur who sneaked into the middle to get his cut. I hope he invests it wisely.

Images from Frederick James. Tip via NPR.

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