All day people have been wondering how Bernie Madoff could’ve lost all of that money, but what do we really know about the man behind the money losses? For instance, did you know that Bernie’s daughter niece*, Shana, is, ironically, a securities lawyer who works for her dad’s firm as in-house counsel and was on the Securities Industry and Financial Markets Association’s Compliance and Legal Division.
Confused? Well perhaps she’ll seem to have more in common with her dad uncle when you read about her extravagant, high-end shopping habits. Madoff is, as New York magazine described her in August 2004, a “Narciso Rodriguez obsessive.”
New York: Her salespeople at Jeffrey messenger a shipment of Rodriguez’s clothes and shoes to her at the beginning of each season and simply charge her for what she doesn’t return. “If I see something I like, I call around,” explains Madoff, a securities lawyer. “I just don’t have time to shop. I get a little bit aggravated when I go into a store because I could be doing so many other things that are so much more productive. And the salespeople are around the clothes all day. They know them much better than I do.”
In the piece, she also raves about the versatility of Narciso Rodriguez’s clothes.
She mentions the ease with which she can transition Rodriguez’s clothes from work to going out. “I can wear one of his jackets and a long skirt to work with a pair of princess heels,” she says, “and at night I’ll unzip the jacket a little, change my shoes, and it’s a cocktail outfit. Or I can throw a pair of jeans in my bag, take the skirt off, and go casual. And with the dresses, you don’t have to do anything. They’re completely versatile.”
Wow, it’s like magic. Just like, um, making investors’s money suddenly disappear?
Photo from NYMag.com
*Corrected, thanks to a tipoff from commenter Anonymous whoever that is. Bernie?