File this one under ridiculous, but sadly expected.
So it turns out that opportunistic auctioneers are selling various items emblazoned with the Bear Stearns logo, offering potential winners the chance to own a piece of history after the storied investment bank imploded in mid-March.
Items currently for sale include stress balls, footballs, pads and pens, water bottles, money clips, stock certificates, beach towels, polo shirts, and of course, cuddly teddy bears.
If that’s not enough for you, one eager seller is offering a business card from Matthew Tannin, the ex-hedge fund manager who was arrested in NYC last week for securities fraud.
His business card reads, “Bear Stearns High-Grade Structured Credit Strategies,” with the bidding already above $20 with nearly a week to go!
But wait, there’s more! You can also get your hands on a Ralph Cioffi signed holiday greeting card, the other hedge fund manager recently indicted by the FBI.
Could this be the latest trend? Memorabilia sales from defunct investment banks and mortgage lenders?
Whether it takes off or not, my guess is that Countrywide will be missing a whole lot of office supplies over the next few weeks.