Hoard d’Oeuvres

Art collecting for the 1% percent, and what it means for the rest of us:

Bernie Madoff’s prized piece of office art was a four-foot sculpture of a screw that he frequently dusted off himself (he, like Donald Trump and scores of other plutocrats, is a notorious neat freak). A defense lawyer pleaded for the valued object to be photoshopped out of court documents, lest it be prejudicial to members of the jury. When Madoff’s Ponzi scheme went bust, J. Ezra Merkin, whose feeder funds supplied Madoff with investors, was no longer Mastering the Universe quite so comfortably. So he sold his stunning batch of Rothkos for $310 million. Whenever I see a Rothko I think of Madoff, and how the afterlife of modern art is now yoked to the pissing matches performed by the big swinging SHLONGS of Wall Street.

Source: The Baffler
Published: Mar 15, 2014
Length: 22 minutes (5,634 words)