Here is a cheaper option, possibly Chinese, but it gets good reviews.
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http://www.milwaukeetool.com/hand-tools/saws-and-cutters/48-22-0305
Bosch and Stanley both used to make them.
I used to have one made by Stanley. It broke one day and I was happy to toss it in the trash. The Milwaukee is so much better.
My Stanley is a large cushioned rubber grip similar to the old style fat max (before the black/yellow). I've had it for years with nary an issue, tho it's normally got a hack saw blade in it. Sound like yours?
I've got a bosch that holds jig saw blades and recip blades - looks nothing like the one posted above - but it's also over 12 years old. I prefer it's svelte shape.
Pretty sure neither was made in China either.
The one I use is made in Germany. Pretty high quality and was about $10 shipped on amazon.... Link Here
Here is a cheaper option, possibly Chinese, but it gets good reviews.
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http://www.milwaukeetool.com/hand-tools/saws-and-cutters/48-22-0305
Yes, that's the same one I just linked to above. Looks to be good. - Paul

I got this one at Home Depot the other day on clearance for under $5. I can't find it on their site now but definitely worth checking. Even comes with 2 blades.
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I have this same one and it works. I don't know about the Milwaukee, but the Lenox one allows the blade to fold into the handle.
I user tape or a glove or both. You could make something. Piece of metal for a handle, washer, nut and bolt.
That looks like a very good handle.Here you go!
http://www.cripedistributing.com/cr...dle-for-recips-driver-extensions-germany.html
Just bought two of these! Takes hex and recip both and bends into an L shape too. Closeout. Made in Germany. Anyone know who made these for Craftsman?
Also Cripe has a ton of really neato special blades to put into it under Milwaukee, here are some:
http://www.cripedistributing.com/catalogsearch/result/?q=milwaukee+job+saw
I want to see if some of the blades will work in my 1/2 stroke mini recip saw too - they should.
Merry Christmas! - Paul