WhatFinger


Bernard L. Madoff

De-funder of the Left



By swindling clients out of up to $50 billion, hedge fund manager Bernard L. Madoff has hurt -- and in some cases fatally wounded -- scores of nonprofit groups and charitable foundations.

Support Canada Free Press


Through his Social Security-like Ponzi scheme that paid older investors with incoming funds from newer investors, Madoff, a heavy donor to Democratic candidates, also did irreparable harm to the liberal and far-left causes he loves. At least two major left-leaning charities are closing their doors as a direct consequence of the record-breaking fraud. The giant Picower Foundation had the misfortune to choose Madoff to manage its more than $1 billion in assets. The charity has given away more than $189 million since 1999. A sizeable chunk of its funding has gone to abortion groups, including NARAL ($3.2 million), Center for Reproductive Rights ($2.5 million), Planned Parenthood ($2.4 million), and Center for Reproductive Law and Policy ($625,000). Picower Foundation gave $2.9 million to the Southern Poverty Law Center, a public interest law firm that uses politically skewed definitions of racism to indoctrinate children while smearing conservatives who question racial preference programs. The foundation also gave $200,000 to Project Vote (a.k.a. Voting for America), an affiliate of the radical Association of Community Organizations for Reform Now (ACORN). More...


View Comments

Matthew Vadum -- Bio and Archives

Matthew Vadum,  matthewvadum.blogspot.com, is an investigative reporter.

His new book Subversion Inc. can be bought at Amazon.com (US), Amazon.ca (Canada)

Visit the Subversion Inc. Facebook page. Follow me on Twitter.


Sponsored