Archive for December 27th, 2008

Elie Wiesel Foundation Wiped Out In Madoff ‘Ponzi’

Elie Wiesel Foundation Wiped Out In Madoff 'Ponzi'

In a stunning announcement, the Elie Wiesel Foundation For Humanity said it lost “substantially all” of its assets in the alleged Bernard Madoff Ponzi scheme. It has been known for two weeks that significant foundation money was under Madoff’s management. But the foundation now says it had entrusted $15.2 million to Madoff, in essence the […]

Bailout Fatigue: Public Restless, But It’s No Reason To Permit Ponzi Schemes

When the $700 billion U.S. government bailout plan was announced, some people warned it could lead to a slippery slope. Banks, the auto industry and the home-building trade now want a share, and there’s a chance the incoming Obama administration will package a stimulus plan that will trickle down to consumers in the form of […]