Ms. Merkin's observation, though suspect in light of the size and veracity of B. Madoff's crime, should certainly be explored further. Question #1: Why did so many smart people invest with Bernie, knowing full well that the returns (regardless of his genius) couldn't be delivered by the prevailing market. Question #2: What's with all these "charitable foundations"? I've asked this question before, but no one has given me a satisfactory answer, as to why most of these folks were putting money in "Jewish Charities"? Sounds like a real scam. Create a "Jewish Charity", put your money in it tax free and as the charity head/foundation chairman, draw it at will and cheat Uncle Sam. Question #3: Why aren't these so called "Jewish Charities" and Foundations being thoroughly investigated for fraud along with Bernie Madoff.
The sad part is, some very decent folks lost their money along with the "mishpocha".
About Bernard Madoff
Read the Article at HuffingtonPost
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