Disgraced hedge fund manager Paul Greenwood surrendered his teddies (along with the rest of his assets) to the government when he was convicted of embezzlement earlier this year. Now his ill-gotten teddy bear collection has raised $1.7 million at auction conducted at Christie's auction house. The paltry sum pales in comparison to the $550 plus million investors lost in his swindle.
Given that the bear is a simple of pessimism, cynicism and a downward sliding market, one wonders why more weren't clued into the inconsistency of Greenwood's "bull"ish pitch. Fortunately the media has resisted the urge to label this hood another "mini Madoff".
The National Enquirer's Philip Smith observed the irony that the gates to the now former Greenwood estate in North Salem, New York are adorned with two large stone pigs.
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