MOChassid

The rambling thoughts of a Modern Orthodox Chassid (whatever that means). Contact me at emansouth @ aol.com

Monday, December 15, 2008

The Coming Crisis for Jewish Charities, Part IV: Oy Vey

UPDATE: It's really bad.

As if things weren't bad enough, the Bernard Madoff scandal is apparently reaching into the highest levels of Jewish philanthropy. Not only is it impacting organizations that invested directly with him, it is also impacting big g'virim who were themselves huge contributors to Jewish causes.

So, in addition to seeing small organizations that have lived from hand to mouth (even in good times) suffer because of the general malaise, many high end organzations with endowments in the millions and tens of millions of dollars and more, may find themselves unable to continue.

What a disaster.

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5 Comments:

  • At 11:06 AM, Blogger Dan said…

    You can read a more complete list here:

    http://ejewishphilanthropy.com/the-madoff-ripple-thru-our-jewish-world/

     
  • At 12:06 PM, Anonymous Anonymous said…

    There may be one positive outcome from all of this. Many of the top minds who over the last thirty years have been lured to Wall Street with the desire to make millions may now return to making the sciences and medicine a career. Society as a whole will be much better off if this happens.

     
  • At 12:43 PM, Blogger ysh said…

    See http://www.marketwatch.com/news/story/story.aspx?guid={8B073FA4-2052-485A-86FF-D4905E250DB9}&siteid=rss. Ugly, ugly situation.

     
  • At 11:53 AM, Anonymous Anonymous said…

    no answers. Only krechtz's.Brad

     
  • At 5:02 AM, Anonymous Anonymous said…

    Finally, someone with something nice to say about Madoff: http://hasidicmanagement.blogspot.com/2008/12/few-observations-on-madoff.html

     

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