Trickle Down 2.0!Would you want to wear Bernie Madoff's old sweaters and pants? No? Would you want your iPad to wear them?
The New York Times reported two weeks ago that, despite the disastrous state of the economy, luxury items are sprinting off the shelves of high-end stores again. Most people may be struggling, but (surprise!), apparently not the rich.
Which brings us to John Vaccaro, the New York entrepreneur who outbid everyone else at auction to get Bernie Madoff's discarded clothes -- so he could make iPad cases out of them and sell them for an insane amount of money to Wall Street bankers. Christian Dior sweaters, Murphy & Nye sailing pants, Bergdorf Goodman cardigans... all have been re-fashioned by Vacarro's company into cases for your iPad! Never mind that cashmere and such won't do anything to protect your precious iPad when you drop it. Given what Bernie did to the life savings of thousands of investors, it's kind of poetic. And they're flying off the shelves!
So what's next? If it's true there's a big market for making useless things out of the old clothes of the useless people who want to keep all the money for themselves (and damn everybody else), what else could Vaccaro make? What do YOU think?