In the wake of the devastating financial tsunami which had already inflicted enormous damage to Jewish and Israeli welfare and educational networks, the subsequent Madoff earthquake will undoubtedly have devastating long term implications for the entire Jewish world.
In addition to the closures and major losses inflicted on the entire financial spectrum, the fact that one of the greatest scams of all time was orchestrated by a Jewish criminal and provides fuel for anti-Semitism is bad enough. But the most negative implications of the Madoff disaster are the material losses incurred by major Jewish institutions and the long-term implications this will have on the future of Jewish communal life.
I had intended writing on this issue but in the light of the enormous flow of articles and columns that have appeared I decided to delay writing a column until the dust settles and I am in a better position to evaluate the total fallout.
In the meantime I attach an article by Pinchas Landau, the respected finance columnist of the Jerusalem Post. Landau, who is normally very restrained, has written a passionate and in my opinion totally valid evaluation of the terrible consequences of Madoff’s criminality. Read it if you have not already done so.