January 15, 2009

Charities' Loss of Trust and Stability Is the True Damage of the Madoff Scandal

By Gary Tobin

Now that nearly a month has passed since news of the Bernard Madoff scam broke, it is time to put the scandal in perspective. Much has been written about the horrific effects on Jewish philanthropy, and how the fraud reaches deep into Jewish nonprofit life.

But the real tragedy of the Madoff scandal is not a Jewish one, because American Jews are embedded into every fabric of American life, especially in its philanthropic world.

At the heart of the Madoff incident is not so much

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