Thursday, December 25, 2008

Silver Lining in Madoff Scandal: ACLU Loses $850,000

Merry non-denominational winter holiday!

Although we probably shouldn't enjoy the misery of others on Christmas Day.

The American Civil Liberties Union sent out an emergency appeal to card-carrying members and donors this week after realizing it is a victim of Bernard Madoff's self-confessed Ponzi scheme.

"We've been hit hard in a way that no one could forecast," Alma Montcla, director of administration and finance for the left-leaning advocacy group, wrote this week.

"Two foundations that have been incredibly generous and longstanding supporters of our national security and reproductive freedom work have been victimized by the Madoff scandal - forced to close their doors and terminate their grants," the plea said.

"That means that $850,000 in support we were counting on from these foundations in 2009 simply won't exist."
Heartbreaking, isn't it? Still, don't extend much sympathy. They're still rolling in money with which to agitate against the country they hate.
The ACLU reported $80 million in income in 2007.
Who you should really feel sorry for is Elie Wiesel.
The grim news came as the Elie Wiesel Foundation, which previously said it lost $15.2 million invested with Madoff, released a statement that it was completely wiped out.

"This represented substantially all of the foundation's assets," the organization dedicated to fighting anti-Semitism said.

Wiesel himself lost a substantial amount of his personal wealth with Madoff, who targeted wealthy Jews and Jewish organizations for investments.
The largest political recipient of Madoff's dirty money, Charles Schumer (D-NY), is still mysteriously unavailable for comment

Update: Doug Ross reports Schumer himself, while receiving hundreds of thousands from Madoff, may have also been fleeced. That may be more amusing that the ACLU taking a hit.

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