Here’s a trend: Down-in-the-dumps executives are selling their mansions to their wives. It started with Dick Fuld, who sold his Florida mansion to his wife, Kathy, for $100. Now, says NYP, Bob Nardelli and Stan O’Neal have done the same. Nardelli denies the transaction took place, and O’Neal says it was only done for “estate planning” purposes, which is, well, obvious. Presumably, that’s what Peter and Bernie Madoff were doing with their Florida homes — estate planning.
Seriously, we doubt Stan O’Neal’s wife would’ve bought his home just for the hell of it. We hear he has terrible design taste.