Monday, December 22, 2008

Approaching The Madoff Issue With Perspective

Considering the enormity of the scandal, it is natural for the Jewish community to have a variety of responses to what has happened. At Contentions, David Hazony focuses on what our only concerns need to be:
The internet seems to be full of talk about whether and how the affair will affect anti-Semitism in America and elsewhere. Abe Foxman, director of the Anti-Defamation League, has described the scandal as “a perfect storm for the anti-Semites.” Bradley Burston, writing at, has referred to Madoff as “the anti-Semites’ new Santa” and “the answer to every Jew-hater’s wish list.”

With all due respect, this is the wrong direction to be looking. True, there is a difference in perspective between how America should view Madoff and how American Jews should see him. For America, we’re talking about one of the biggest swindles in human history, and there need to be many, many hard questions about oversight, reporting, regulation, and law enforcement. For American Jews, the question is different: Madoff and the money he managed were a central part of the Jewish financial ecosystem. Tragedy has struck in the form of countless charitable organizations suddenly left out on a limb, whole foundations wiped out, and literally billions of dollars that will not reach Jews in need. The hard questions have to do with how the disaster was allowed to happen, what could have prevented it, and how to cope with the devastation. The last question American Jews should be asking themselves right now is “what will the goyim think?”

By now we should realize how little effect worrying about 'what will the goyim think?' has on the world. We need to tackle how we will deal with this problem.

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