Your up to the minute Obama family fashion report update

Because you Need To Know:

NEW YORK (AP) – Michelle Obama’s striking red-and-black dress worn Tuesday night as her husband became president-elect of the United States was designed by Narciso Rodriguez.

It was based on a style shown during Rodriguez’s spring ’09 runway show in New York.

Meanwhile, President-elect Barack Obama wore the same style dark-navy suit custom-made by Hart Schaffner Marx that he wore at the Democratic Convention, the company says. Hart Schaffner Marx makes its suits in the Obamas’ home state of Illinois.

The couple’s daughter Malia wore a red bubble-hem dress, and younger daughter Sasha wore a black dress with a bow.

On a related note, I wonder how many Obama handbags were brought to Grant Park last night? And furthermore, how many were confiscated? I guess that depends on how much the handbag carrier makes. $250K, or $150K, or $120K or, er … ?