Madoff Stuff Auctioned Off: Diamond Ring, Underwear

"Auction of Madoff effects raises $2 million"
Reuters, (November 13, 2010)

"A diamond engagement ring that belonged to the wife of Bernie Madoff fetched $550,000 at an auction on Saturday, while a pair of black velveteen slippers embroidered with the convicted swindler's initials went for $6,000, U.S. marshals said.

"The auction of jewelry, furniture, antiques, clothing and other personal effects to help compensate Madoff's victims raised more than $2 million, the marshals said...."

Well: It's a start. That $2,000,000 isn't a big fraction of the $60,000,000,000 or so that Madoff stole. But, like the Lemming wrote: It's a start. Earlier this year a Madoff mansion moved a step closer to being sold - for something in the neighborhood of $5,000,000. (October 16, 2010)

Now, a much less serious look at that Madoff auction:

"The Used Underwear of the Apocalypse?"
Oddly Enough, Reuters blog (November 12, 2010)


(Reuters, via Oddly Enough blog, used w/o permission)

"Blog Guy, thank you so much for keeping us alert on signs of that Apocalypse which seems to be hurtling toward us. Last week you warned us about the proliferation of craters and sinkholes. Are there any new signs?

"You bet. Tomorrow, keep your eyes on an auction of stuff that once belonged to Bernie Madoff, the mega-swindler who is serving 150 years in prison..."

"Blog guy" raises an interesting point - who would buy Mr. Madoff's used underwear?

But then, the Lemming doesn't understand why people want to own things like a commemorative Elvis toothpick holder either. (The Lemming is not making that up.)

Related post:

• "Madoff Mansion, Money, Ponzi Schemes, and Thinking"
  (October 16, 2010)