This Little Madoff Piggy Bank Going to eBay

Sculptor hopes bidders find humor in creation

030909 Bernie Madoff Piggy Bank Bust

Palmer Murphy told a reporter that he probably got the idea for his Bernard Madoff piggy bank bust at a bar near closing time.

"Is that true?" he was asked.

"Well, I was being facetious about that; it was a lounge," he deadpanned.

Murphy has been sculpting for nearly 20 years, and his latest creation of alleged Ponzi schemer Madoff was going for about $111 on eBay on Monday afternoon.

"It's tough to answer where ideas come from," Murphy said. "I get a lot of them, but it's nice once in a while when people respond to one."

The plug at the bottom of the Madoff bust is fused shut so you can't get out any of the money you put in. Murphy said he thinks people will see the humor in his creation.

"I don't want anyone to feel I'm trying to take advantage of the situation," he said.

Murphy said he spent five hours a day for two straight weeks on the project, and added that he's got another gag planned for eBay later this week.

Madoff is due in court Thursday, when he's expected to plead guilty to his $50 Ponzi scheme. Also Monday, the Associated Press reported that his wife, Ruth Madoff, will hire her own attorneys to help defend her against the numerous civil suits she's now facing.

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