Madoff Scandal Losses Put Hadassah's ...

Madoff Scandal Losses Put Hadassah's Goals At Risk

There are 32 comments on the Hartford Courant story from Dec 23, 2008, titled Madoff Scandal Losses Put Hadassah's Goals At Risk. In it, Hartford Courant reports that:

Bonnie Norman was wrapping presents at a Barnes & Noble in Manchester, collecting dollar tips in a jar, when she heard the news: Hadassah, the very organization she was raising money for, had lost $90 million ...

Join the discussion below, or Read more at Hartford Courant.

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Norman

United States

#13 Dec 23, 2008
Ponzi, Lay, Madoff and similar financial frauds are mirrors of our soul. They continue to prove it only takes a little avarice in each of us for the moneychangers to free us from our gold.
Greed

Mansfield Center, CT

#14 Dec 23, 2008
Greed Knows No Bounds!

It is greed that brought us to where we are today! the Big 3, UAW, Bad home loans for people that should have NEVER purchased a home, etc... Greed - plain and simple.
Already Paid

Old Lyme, CT

#15 Dec 23, 2008
Too bad the government is so Greedy or I might be able to make another contribution.
You see they took out so much in taxes from my paycheck that I can't afford to give any more.
Alphonso from New Britain

Amston, CT

#16 Dec 23, 2008
This is truly sad. I think what we should all learn from this episode is not to put all our eggs in one basket. In other words, diversity your portfolio.

Madoff is a criminal, agreed. Folks, there are lots of criminals in this world. Thus the reason we take such precautions (locks, alarms, personal defense) to protect ourselves.

And when investing, diversification is your first & best line of defense. Myself, I go with mutual funds, and index funds. I may never get specacular returns, but I won't wake up one morning with an empty account either.
Already Paid

Old Lyme, CT

#19 Dec 23, 2008
bumpkin wrote:
If you don't like taxes: Stay off my roads, don't call a fireman or policeman, take a brick and knock out the street light in front of your house ect. You butt-holes that want a "free" ride cause me great pain in the rear. Of course thats just being a good Republicrook.
Oh my....testy testy testy.
Before you lecture me please get out a calculator and lets do a little addition.
Please add up all the taxes that are withheld from your paycheck in a year.
Now add to that the property taxes you pay on your home and cars.
At my house this number is more than my mortgage, insurance, health care, energy and charity budget COMBINED.
Try it yourself just for fun.....ha ha ha
ponzi

Cedar Hill, TX

#20 Dec 23, 2008
the old saying "if it's to good to be true....." these investor should have smelled a rat with the returns promised, greed pais this Mad man well

Since: Oct 08

Glastonbury, CT

#22 Dec 23, 2008
Yes Madoff was a scumbag.
Yes the SEC dropped the ball completely.

But many, if not every, organization that invested with this guy had a fiduciary responsibility to know what they were investing in and only a few people realized all along it was a scam.

They gave them their money blindly because others did and now they got screwed. Tough lesson to learn.
Already Paid

Old Lyme, CT

#23 Dec 23, 2008
bumpkin wrote:
If you don't like taxes: Stay off my roads, don't call a fireman or policeman, take a brick and knock out the street light in front of your house ect. You butt-holes that want a "free" ride cause me great pain in the rear. Of course thats just being a good Republicrook.
Coming from Georgia you probably are unaware of the property tax nightmare Ct residents face so I will enlighten you.
In Wesy Hartford a $425k home has a tax bill approaching 12k per year....yup, almost $1000 per month just in property taxes. Do you stil think we don't pay our fair share?....ha ha ha

Since: Apr 08

West Hartford

#24 Dec 23, 2008
The biggest ponzi scheme out there:

SOCIAL SECURITY
Alphonso from New Britain

Amston, CT

#26 Dec 23, 2008
Already Paid wrote:
<quoted text>
Coming from Georgia you probably are unaware of the property tax nightmare Ct residents face so I will enlighten you.
In Wesy Hartford a $425k home has a tax bill approaching 12k per year....yup, almost $1000 per month just in property taxes. Do you stil think we don't pay our fair share?....ha ha ha
Oh spare me the whining. That is so silly. Your West Hartford folk have nothing compared to what we in New Britain pay - 3rd higheste in state. And you don't see me whining, do you? We must pay taxes to educate kids, to pay cops, to pave the roads, to plow the roads, to help old folks with medications.

Honestly.. You should realize that it is a privilege being an American. If you dislike living here so much, you can love to a tax-free zone like Afghanistan or Somalia. No taxes, no welfare, no gun restrictions..

It is a conservative dream come true..
Already Paid

Old Lyme, CT

#27 Dec 23, 2008
Alphonso from New Britain wrote:
<quoted text>
Oh spare me the whining. That is so silly. Your West Hartford folk have nothing compared to what we in New Britain pay - 3rd higheste in state. And you don't see me whining, do you? We must pay taxes to educate kids, to pay cops, to pave the roads, to plow the roads, to help old folks with medications.
Honestly.. You should realize that it is a privilege being an American. If you dislike living here so much, you can love to a tax-free zone like Afghanistan or Somalia. No taxes, no welfare, no gun restrictions..
It is a conservative dream come true..
Did you ever ask yourself why some States can provide these same services for so much less?. Now I know that New Britain is a very desireable place to live....ha ha ha [not] but you must be wondering if it is worth the money.
Besides High Crime and Crummy Schools what is it you are so proud of paying for?. You live in a dump and are being fleeced for the privilage.....wake up.
If not for the insane taxes Haddassah would be collecting more $$ to recover from the Maddoff scandal.
Mother of Two

Springfield, MA

#30 Dec 23, 2008
So sad.........
Tom Collins

Windsor, CT

#31 Dec 23, 2008
Alphonso from New Britain wrote:
<quoted text>
Oh spare me the whining. That is so silly. Your West Hartford folk have nothing compared to what we in New Britain pay - 3rd higheste in state. And you don't see me whining, do you? We must pay taxes to educate kids, to pay cops, to pave the roads, to plow the roads, to help old folks with medications.
Honestly.. You should realize that it is a privilege being an American. If you dislike living here so much, you can love to a tax-free zone like Afghanistan or Somalia. No taxes, no welfare, no gun restrictions..
It is a conservative dream come true..
It would be big news if NB actually educated kids and paved and plowed roads instead of squandering your "3rd higheste in state" taxes.

BTW, "a conservative dream come true" would be you posting a "gun free zone" sign prominently in front of your residence so the welfare people can make cumbyah with you.
Alphonso from New Britain

Amston, CT

#32 Dec 23, 2008
Tom Collins wrote:
<quoted text>
It would be big news if NB actually educated kids and paved and plowed roads instead of squandering your "3rd higheste in state" taxes.
BTW, "a conservative dream come true" would be you posting a "gun free zone" sign prominently in front of your residence so the welfare people can make cumbyah with you.
Okay, call me crazy, but I like New Britain. I live near Walnut Hill Park, so yes, I Know I am lucky.

Some areas around North Stree are a haven of drugs and crime - and yes, there are some sketchy areas in the Far East Side. But overall, it is a good place to live. Lots of good Polish delis, great parks, lovely street layout. In some ways, in is a classic New England small city.

Vis a vis the schools. If you take someone whose family is messed up, they will do badly in school. Regrettable but true. But my kids did well in NBHS, and they are doing to college. The real tragedy is that some many drop out before graduation. This is such a mistake

But declining rates of HS graduation and college graduation are hardly just a NB problem. It is nationwide. Folks 22-34 are less like to have a college degree than those who came before them.

but in sum, I am glad to live in NB. I feel very blessed here.
Deborah

Elmwood Park, NJ

#35 Dec 23, 2008
As badly as I feel for Hadassah, Y.U. and all the other charities , and I believe that Madoff is despicable, I must say that When I donate money to charity, I assume ( along with the friends with whom I have spoken)- apparently falsely -that the money is going to feed the hungry, help the people in need, etc, etc-not be socked away in an investment account of any kind- I don't expect Hadassah, Y.U. and all the others to be putting $90 million or $130 million or whatever aside.
It is tragic that Madoff has "made-off" with all this money, but U.J. A. Federation and others did manage to do due diligence, and in the end, it is not just the charity that lost money- it is myself and the thousands of contributors who have lost our money -that we intended to be used to help those in need.
I have yet to receive a solicitation that said " by the way, we've got $90 million in the bank, or with a hedge fund-or with a slime like Madoff. It's one thing to contribute to an endowment at a college or in the arts, and another to be told that I am donating to a hospital or poor and hungry people etc.
the letters I receive from charities all express desperate need for money- I feel terrible for all of the people and the charities who were swindled by Madoff, but I would like to know why the charities are hoarding all this cash, and certainly not informing their prospective donors..(aside from the Private Foundations, which have a right to hold as much money in escrow as they want, obviously)
From now on, I am going to try to donate money directly to people who are in need. I want to make sure that my money actually goes to people in need.I am only a small contributor, but I know that I am not alone in these feelings as it was others who brought up the issue of all this money set aside.
Madoff, and Murkin and others have absconded with others' money, but these Jewish charities have done the same, by not exercising due diligence and fiduciary responsiblity. and certainly not providing full disclosure to the donees and the hard-working volunteers.
Beautiful

Berlin, CT

#36 Dec 23, 2008
Deborah wrote:
As badly as I feel for Hadassah, Y.U. and all the other charities , and I believe that Madoff is despicable, I must say that When I donate money to charity, I assume ( along with the friends with whom I have spoken)- apparently falsely -that the money is going to feed the hungry, help the people in need, etc, etc-not be socked away in an investment account of any kind- I don't expect Hadassah, Y.U. and all the others to be putting $90 million or $130 million or whatever aside.
It is tragic that Madoff has "made-off" with all this money, but U.J. A. Federation and others did manage to do due diligence, and in the end, it is not just the charity that lost money- it is myself and the thousands of contributors who have lost our money -that we intended to be used to help those in need.
I have yet to receive a solicitation that said " by the way, we've got $90 million in the bank, or with a hedge fund-or with a slime like Madoff. It's one thing to contribute to an endowment at a college or in the arts, and another to be told that I am donating to a hospital or poor and hungry people etc.
the letters I receive from charities all express desperate need for money- I feel terrible for all of the people and the charities who were swindled by Madoff, but I would like to know why the charities are hoarding all this cash, and certainly not informing their prospective donors..(aside from the Private Foundations, which have a right to hold as much money in escrow as they want, obviously)
From now on, I am going to try to donate money directly to people who are in need. I want to make sure that my money actually goes to people in need.I am only a small contributor, but I know that I am not alone in these feelings as it was others who brought up the issue of all this money set aside.
Madoff, and Murkin and others have absconded with others' money, but these Jewish charities have done the same, by not exercising due diligence and fiduciary responsiblity. and certainly not providing full disclosure to the donees and the hard-working volunteers.
Exactly.
cunnilini

Santa Fe Springs, CA

#40 Dec 23, 2008
Abe Foxman(if you are the real one) are a Bully and a Fraud!
Farooq A Ganai

Brooklyn, NY

#41 Dec 23, 2008
Abraham Foxman wrote:
you will know it. in the end it will be others, not jews, who will be paying for madoff swindle
Indian authorities deployed thousands of troops on Tuesday to avert separatist unrest during the key final phase of state elections in revolt-hit Kashmir, officials said.
http://www.google.com/hostednews/afp/article/...

Since: Dec 08

Cochin, India

#42 Dec 23, 2008
cunnilini wrote:
Abe Foxman(if you are the real one) are a Bully and a Fraud!
Thank you
jagoindia

Brooklyn, NY

#43 Dec 23, 2008
Abraham Foxman wrote:
<quoted text>Thank you
The loyalty of Indian Muslim is generally first towards Islam, Islamic countries, Islamic Ummah and then only India. The enemy within is 1000 times more dangerous than the external enemies and more often will help out the enemies and the homegrown Islamic terrorists so often prove.

http://islamicterrorism.wordpress.com/2008/12...

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