December 24, 2008

Madoff Madness- Elie Wiesel

I haven't commented on this story here. Made remarks on other blogs, but haven't said anything here yet. But I expect that I will. I am very angry. I know people that were affected. Some of them are going to be ok and some are not. But it is not about whether people will survive or not.

It is about a fundamental flaw in this man's character that allowed him to ignore the devastation that he was unleashing upon so many. There are a lot of different charities that I could write about, but I am taking the "easy road" because this story is out there already.

Survived the Holocaust to see his work so severely damaged by the greed of another. Terrible.

WASHINGTON (AFP) – The Elie Wiesel Foundation for Humanity lost more than 15 million dollars -- nearly all of its assets -- in the alleged fraud scheme run by Wall Street baron Bernard Madoff, the fund said Wednesday.

"We are writing to inform you that the Elie Wiesel Foundation for Humanity had 15.2 million dollars under management with Bernard Madoff Investment Securities," said the foundation, which aims to combat anti-Semitism, on its website.

"This represented substantially all of the Foundation's assets," it said.
"We are deeply saddened and distressed that we, along with many others, have been the victims of what may be one of the largest investment frauds in history."

The statement added that the foundation "remains committed to carrying on the lifelong work of our founder, Elie Wiesel. We shall not be deterred from our mission to combat indifference, intolerance, and injustice around the world."

Wiesel, 80, a Nobel laureate and prolific author who survived the Holocaust, created the foundation some 20 years ago to foster international dialogue and youth programs to teach tolerance.

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