Eventually, a Madoff Tag Sale. Now, the Weekend Poll.
At high noon yesterday, federal marshals seized Bernard Madoff's $7 million Manhattan co-op apartment and most of its contents. Ruth Madoff left the apartment shortly before the feds arrived and changed the locks. Marshals also are seizing the couple's homes in Montauk, N.Y, and Palm Beach, Fla.
The forfeiture order specified that all "readily salable" personal property in the co-op be handed over to the government, including a $39,000 Steinway piano and a $65,000 set of silverware. The government plans to sell the goods -- details on how and when yet to come -- and use the proceeds to help make restitution to investors victimized by Madoff's massive Ponzi scheme.
I wonder who will want to live in Bernie's old homes? Will people pay a premium to sip soup from his and Ruth's silver spoons? Or will the government be better off lumping their belongings in with the bling seized from drug dealers and other criminals and selling them without fanfare?
Weekend reading: The Post's Jonathan Starkey reports on buying a home at the beach, and whether it's the right move even at distress-sale prices. Have a wonderful and safe Fourth of July holiday, everyone!
The Weekend Poll
This is a non-scientific user poll. Results are not statistically valid and cannot be assumed to reflect the views of Washington Post users as a group or the general population.
July 3, 2009; 6:00 AM ET
Categories: Condo/homeowner associations , Home features , Poll , Weekend Poll
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Posted by: chrisbrown12 | July 3, 2009 9:26 AM | Report abuse
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