Wednesday, March 11, 2009

Madoff Is Consistent

Long before Bernie Madoff was infamous for running the largest Ponzi scheme in history, he was well-known as a generous donor to charitable causes and institutions. He also gave heavily to politicians, primarily Democratic pols.

Don Suber who blogs for the Charleston Daily Mail looked through the records and discovered that over the years Madoff and his wife donated at least $200,000 to Democrats and Democratic Party causes.

"I checked and found old Bernie gave $182,250 to politicians and political causes over the year. That included $173,500 to Democrats and their causes," Suber reports. "His wife, Ruth, made $42,800 in donations — $32,250 to Democrats."

Bad news for Madoff's victims: we predict you won't be able to claw back even one dollar in political donations.

If anything, I find this news consistent.  The February Stimulus Package and the March Omnibus bill both seem inspired by Madoff.


James Wolfer March 11, 2009 at 11:13 AM  

He's pleading guilty, and he could get up to 150 years in prison. I wonder if any of his victims would be in prison with him?

Miss T.C. Shore March 11, 2009 at 5:25 PM  

Typically, you don't send "victims" to jail.

...And if any of those victims are Democratic Senators who've become wealthy through their associations with large financial institutions, they will find a way out of jail time.

James Wolfer March 11, 2009 at 6:41 PM  

Oh, sorry. I didn't mean put them in jail. I meant I wonder if any of them are already there for other crimes and happen to be in the same prison with Madoff later.

I meant that THAT would be justice for him.

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