Who, Me?
December 15th 2008 11:58 pm
Over the last few days, the largest financial scandal in Wall Street history has begun to unfold. The facts are still coming in, and it will be some time until the full scope of the scandal is truly understood - but so far, it appears devastating. Bernard Madoff was arrested on Friday, December 12th 2008 after admitting to having been running the largest Ponzi scheme ever, spanning decades, and involving over $50,000,000,000 (that’s right, billion) of investor money - now all gone.As I began reading the initial news article, my jaw hung open. Not only did someone work up the inhumanity of stealing tens of millions of dollars from countless individuals, and spending it on mansions, a yacht, and a first class lifestyle, but this is unfolding at what can be said as literally the worst possible time. The United States (and much of the Western civilized world) is just beginning to plunge into the worst economic situation in memory. Then it got worse…
Mr. Madoff is a Jew! Not only a Jew, but he served as the treasurer of the board of trustees for Yeshiva University - one of the most well-known Jewish institutions in all of New York. At this point my jaw was on the floor. Upon his arrest, Yeshiva University instantly took a catastrophic hit on its endowment. Many prominent Jewish people have been completely wiped out, many of them elderly (living in Florida, obviously).
Why is it that people don’t realize their actions will paint future history books, and shape the world of their grandchildren? Is there any doubt in your mind that when the history of American Jewry is written, Madoff’s name will not be written in bold letters, and described as the name that did enormous damage to the entire Jewish nation, and ran American Jews’ reputation through the mud? His family is ruined. His future descendants are ruined. And to a certain extent, American Jews are ruined. Worst of all, it seems his only response can be “Who, Me?”
What is the world to think of Jews now? Factor in that Mr. Madoff was a huge contributor to Jewish charities across the globe. What is the world to think of Jews that give charity now? In Jewish law there is a well known concept called Mitzva HaBaa b’Aveira - a good deed that comes as the result of a bad one. The individual responsible is not credited for that good deed. It is invalid. Rather, they are punished for the bad one. We are witness to the clearest example of this that I have ever come across.
Mr. Madoff is officially responsible for the destruction of thousands of lives, families, Jewish institutions, and more. It has been 1 business day since this scandal has surfaced, and already two non-profit Jewish organizations have been forced to terminate their entire staff, and close their doors. What will be the future of Yeshiva University, no one knows. This man has single handedly prevented an untold number of Jews from receiving a greater Torah education, from visiting the land of Israel, from being able to afford Kosher food for their children!
If all this isn’t bad enough, major foreign banks have been hit, some for as much as over a billion dollars. Great job Bernard - I’m sure Jews have all really been missing the atmosphere of open anti-semitism, like that of 19th century France, which produced the Dreyfus Affair (read about it). I cannot express how damaging this is for worldwide Jewry - and at a time when the security of the state of Israel is in tremendous limbo… I need not remind you the 6-month ceasefire between Israel and Hamas is coming to an end, and Hamas has vowed not to renew it. I need not remind you Iran is still rapidly assembling a nuclear weapon with Israel’s name on it, in open defiance of the entire world. I need not remind you the security of the state of Israel (which believe it or not is a security blanket for all of world Jewry) GREATLY depends on the stature and reputation of powerful foreign Jewish communities (at the present time, those in America).
We are in serious trouble, fellow Jews. Do not take this lightly. And please do not respond “Who, Me?”
Yes, You!!!
Tags: bernard madoff, madoff scandal
orrin responded on 16 Dec 2008 at 5:38 am #
I. Scooter Libby and Jack Abramanoff are both Jewish as well.
Zach responded on 16 Dec 2008 at 11:17 pm #
Dude,
Yes this is terrible,
but,
chill out.
Seriously.
There have always been Tzadikim and Risha’im.
Not all risha’im are rapists and murderers.
Some steal money from tons of people and ruin things for tons of people. Some also pretend to be rightous.
If you ask me, I am not the least bit shocked. YU is not a flagship instition of Torah Judaism the way it outa be. How do I know that? Well, quite simple. It’s in America. Therefore, everybody who learns and davens there is doing Avoda Tara B’Tahara at best, anybody who lives there - Avone yesh bo, and the whole institution perpetuations Galut HaShchina. HaMevin Yavin.
-Zechariah
Dani Koesterich responded on 17 Dec 2008 at 12:37 am #
Zechariah,
While I agree with you that YU is not one of the pillars of Torah education in 2008, it’s difficult to argue that it is not a cornerstone of Jewish education in the tri-state area. People travel from all over the US, and Canada, and other countries to attend YU. It is the home, and has been the home, of many celebrity-grade American Rabbanim.
Also, I think you’re making light of the disturbing trend of destruction being caused by Jews in recent times (ie. Alan Greenspan stating he never really understood derivatives). A few more of these scandals, and America will begin to question why it has been so nice to its Jews this whole time. Say I’m over exaggerating, but just look at history my friend. The horrors speak for themselves. And I’m not “playing the holocaust card”. Just because we, in our early 20s, have thankfully not experienced things that the overwhelming majority of generations that preceded us did, that should not make us naive. Eisav Soneh Et Yaakov. Let’s finish this conversion in 11 days 18 hours.