What irony, a day after the president of the United States addresses his Congress and his nation, talking about the dire financial straights that we have got ourselves in to, someone bid’s up an old chair from Christie’s auction house’s low estimate of $2.5 million, to $28,341,909. Who was the successful bidder, Angelo Mozzilo, Bernie Madoff, Allan Stanford, John Thain, AIG, FannieMae, Northern Trust…
The chair was designed and fabricated by Eileen Gray (an Irish artist who lived from 1878-1976) sometime between 1917 and 1919 and was one of the lots auctioned by the estate of the late French designer Yves St Laurent.
One can only speculate if the new owner of the chair will be actually placing their ass in the chair, or will they just add it to their collection of arts and crafts, a trophy that no one else has been able to acquire. Meanwhile the United States taxpayers keep funneling more and more of our money to the big banks. What are the banks doing with the money, funding loans for consumers and small businesses, or using it to improve the bottom line for their major stockholders, so they can buy more ugly, over priced firewood, while Rome burns?
If anyone thinks the highest 1% of earners need any more tax breaks, this impulse purchase ought to disabuse them.
Who did shell out $28 million for the chair, and can they spare a few bucks to create jobs for those among us who have lost their employement because of the greed of Wall Street? One person we can be sure who was not a bidder on the chair was Dennis Kowlowski, but it does give one pause to think: when will our society as a whole realize that the acquisition of material for the sake of more material, does not advance the evolution of mankind. But maybe that is the point of it all, to keep all those who are not at the top of the heap, less evolved, either as a living organisim or a holder of the world’s available wealth.
Gawker is claiming that Henry Kravis, principal in Kolberg, Kravis & Roberts, the well known Wall Street “take over artists” turned over the big bucks via art dealer Cheska Vallois as his straw buyer: “$28 Million Chair Idiot Buyer Revealed: Henry Kravis?”