Smash-Me Bernie comes with a hammer.

When we first heard about Bernie Madoff’s alleged Ponzi scheme, we suspected he might be an empty shell of a man. And once we saw the inside, we realized it was true — at least in the case of the resin My-Mini-Me by ModelWorks figurine called Smash-Me Bernie, which caused quite a stir at Toy Fair 2009, held in New York City last month. For $49.95, you can purchase the Madoff figure — wearing a red devil suit and holding a pitchfork — complete with a golden hammer, for the option of taking out financial frustrations.

Graeme Warring, president of My-Mini-Me by ModelWorks, made a Madoff figure to cheer up a friend who lost money in the alleged scheme. “He thought it was pretty funny,” Warring says, and soon, the company had at least 50 more orders. “If we’d sold two, we would have sold one more than I thought.” But smashing Bernie in effigy can be a way for Madoff’s investors to release pent-up anger. “It lightens the mood a bit.” he says. “In the boardrooms of corporate America, pieces of this figure are going to be sucked out of shag pile carpeting for the next few months.” The company also has had an order for smashable figures of John A. Thain, the former CEO of Merrill Lynch.

My-Mini-Me by ModelWorks specializes in figurines not meant to be broken: The site has likenesses of celebs including Paris Hilton, Oprah and Michael Phelps. Custom figures also are available — simply upload a photo for a to-order head on a stock body ($99.95 plus $20 shipping and handling) or ask for a fully custom gift figure ($139.95).

We think smashing an effigy might be therapeutic — or bring a smile to the face of someone during these trying financial times. Do you think this gift would cheer up the right person? Or would you have a figure of yourself made — sans hammer, of course?

Tags: America, Bernard Madoff, Bernie, Bernie Madoff, Business, CEO, Deception, Economics, Fraud, Graeme Warring, John A. Thain, Madoff, Madoff investment scandal, Merrill Lynch & Co. Inc., Michael Phelps, My-Mini-Me, NASDAQ, New York City, Oprah Phelps, Paris Hilton, Ponzi scheme, president, USD