Why isn’t Cathy Fuld helping out, now that Dick’s working again?

From the best bridge playing realtor in Minnesota, Peg, comes this link to a NYT story detailing the woes of Palm Beach retailers in Bernie’s aftermath.

LONG before the number was redolent of bailouts and bank failure, David Neff decided that Trillion was the perfect name for his clothing store here on Worth Avenue, this town’s boulevard of luxe retail.

The idea was to brace customers for the you’ve-got-to-be-joking price tags — $6,800 for a sport jacket, $800 for a button-down shirt — and to convey unparalleled opulence.

“We wanted people to know that this is a lot,” Mr. Neff says, gesturing to the clothing, “and we didn’t want anyone to open next door with a store that sounded like it might be more.”

Until last year, this idea actually seemed reasonable.

Then the meltdown vaporized the portfolios of multimillionaires here and, soon after, a beloved Wall Street wizard and Palm Beach homeowner named Bernie Madoff was unmasked as a fraud.

For years, Mr. Madoff’s elusive genius act beguiled his Jewish neighbors, as well as friends of those neighbors, and so on, and so on, until vast chunks of local money were hoovered into his Ponzi scheme. Life savings, dreams, and countless inheritances, gone.

“A guy stood right there and cried,” says Mr. Neff, pointing at a table covered with $800 cashmere cable knit sweaters. “And he told me he’d lost it all, his wife lost it all, his daughter lost it all. He said to me, ‘I had everything with Bernie.’ ”

A lot of regular customers haven’t been seen in Trillion since Hurricane Madoff struck in December — including, of course, the hurricane himself.

The last time he was here, he fell for a $2,000 pair of worsted spun cashmere pants, which Trillion didn’t have in his size, and had to be ordered from Italy.

After the slacks arrived, but before Mr. Madoff could come by for a fitting, he was arrested.

“I remember I heard about the arrest and I went directly to the store to charge those pants on his credit card,” recalls Mr. Neff, a fit, gray-haired man in perpetual motion. “But the card had already been canceled.”

One familiar note: realtors in Palm Beach can be counted on for the same soothing calm reassurance that most Greenwich agents engage in. “Fifty cents on the dollar? Not in Palm Beach – hah!”. Ha ha ha.


Filed under Uncategorized

5 responses to “Why isn’t Cathy Fuld helping out, now that Dick’s working again?

  1. Walt

    Monica will never work. That is for little people. And how hawt is she? http://www.businessinsider.com/madoff-feeders-fattened-up-on-790m-in-fees-2009-4
    Not up to Bar what’s her name, maybe, but not bad, BABY!!!
    Your Pal,

  2. Al Dente

    I shopped at this store once. I bought a sock.

  3. Peg

    What lucky people on aptly named Worth Avenue!

    Here in the almost un-frozen tundra, we seem subject to the vagaries of market forces. No la-la-land of $2,000 slacks and estates that only go to the stratosphere and never down.

  4. Walt

    Well I am back in town. Stop by for the egg hunt. I hid them already, and will never remeber where they are.

    Hey (HAY!!) did you see this? Marisa was always one of my favorites. Long face, great mane, and 18 hands high!! How do you not love her??http://guestofaguest.com/socialites/bernard-madoff-snares-socialite-marisa-noel-brown/

    Anyway – OFF TO EGG ROLL!!!
    Your Pal,

  5. neighbor

    Psa – That is not monica in the picture with walter