Well, you have to start rebuilding your bankroll somewhere. It seems Sandra Manzke’s son has started a Bernie Madoff novelty golfball business out of Maxam Capital’s old office. Manzke, of course, presented herself as a watchdog of the industry, until it was revealed that she was way over-invested with Madoff and had to close up shop.
Greg Newton at Naked Shorts got a message from Sandra:
From: Sandra L. Manzke
Sent: Tuesday, February 03, 2009 13:27
To: Greg Newton
Subject: RE: Sleazeball of the Month: Bernie Madoff
My son came up with this idea and has rented space from my office to pursue. He is working on tennis balls, racquet balls, baseballs etc. I do think it is a good idea to shame a lot of sleazeballs. S.
Ah, American capitalism. Turning losses into opportunities, plus a dose of suing your own auditors.