It's very hard for many people to have a happy Chanukah this year.
It's not just because the world economy is in meltdown and we are frightened more and more by our dwindling bank accounts and impoverished pension plans. It's because the very meaning of Chanukah today seems to be in jeopardy.
The Maccabees may have won a long time ago, but in the age of Bernie Madoff madness the spiritual victory of the Jewish people over the values of Hellenism and Greek culture remains highly doubtful.
Chanukah, unlike Purim, doesn't celebrate the physical survival of Jews in the wake of a genocidal threat. It commemorates our ability to preserve Judaism at a time when the world around us worshiped totally different ideals. The symbol of the holiday is oil because unlike other liquids, oil does not mix with water but maintains its own identity and rises to the top. So too, the Jewish people did not assimilate.
Instead of worshipping the holiness of beauty, the heroes of Chanukah maintained their allegiance to the beauty of holiness.
When confronted with a culture that worshiped the holiness of beauty, the heroes of Chanukah maintained their allegiance to the beauty of holiness. The Greeks claimed that beauty is truth. The Jews insisted that only truth is beauty. The Greeks glorified the physical. The Jews insisted the spiritual has greater importance. The Greeks sanctified the gymnasium and the marketplace. The Jews worshiped in the Temple and the house of study. The Greeks idolized wealth. The Jews venerated values.
To those who ask how could the Bernie Madoff scandal have happened, the answer can only be that for far too many Jews today the Maccabees were wrong and the Greeks were right. Given a choice between assimilating with a conspicuous consumption culture that proclaims "he who dies with the most toys wins," or a more modest lifestyle circumscribed by Torah and mitzvoth, the tragedy is that so many Jews opted for the former.
It wasn't too many years ago that Michael Douglas won an Oscar for best actor in the movie Wall Street. In the film Douglas played the role of a fiendishly avaricious stock market speculator. To thunderous applause, in one of the climactic scenes of the film, Douglas tells his adoring audience, "There's a new law of evolution in corporate America. Greed is good." Strangely enough, that seemed to strike a chord among some of the very people who gave the world the Ten Commandments that concluded with the powerful divine edict, "Thou shalt not covet."
Due Diligence?
To understand the Bernie Madoff scandal, it completely misses the mark if we focus our attention solely on the one man who engineered this incredible Ponzi scheme. It isn't shocking, after all, to discover that con men can still be found in our midst. What needs to be analyzed is how it was possible for so many financially astute businessmen, as well as organizations committed to prudent investment policies, to fall victim to the seductive lure of a phony who promised returns that the investors themselves recognized as "too good to be true."
Why were they all willing to assume a level of risk that simply didn't make sense? The answer undoubtedly is because our society was making it clear that it was far more risky not to make outrageous returns on your money, not to have a billion dollars if you only had half a billion, not to be super super wealthy if you are only in the to be pitied category of just the super wealthy.
When being just rich isn't enough, the rich have to risk everything to maintain their social standing.
Honor in Jewish life has all too often been meted out only by the measure of financial, rather than personal, worth.
So where does the real blame lie? Bernie Madoff was taking advantage of a social reality created by us, by our organizations, and yes even by our charities. Honor in Jewish life has all too often been meted out only by the measure of financial, rather than personal, worth. Only the millionaire could become a macher, and only the close-to-billionaire could dream of becoming a major Jewish leader or honoree.
Tell me who your heroes are and I will tell you what you worship, goes the old adage. When scholars are given positions of prominence we can conclude that study represents a prime value. When the wealthy are the only ones allowed on the dais of communal leadership we are making clear what we hold dear as our priority.
Ask our young people today what they want to be when they grow up. If they respond, "to be successful," probe a little further and ask what they mean by that. More often than not they will smile and say, "That's simple; I want to make a lot of money." And why are they so materialistic? There is no wonder about that. It is because we have shown them that that is the ultimate way in which we will evaluate their success. Just look at the role models we offer them as the ones worthy of our respect and admiration.
So our best and our brightest have been going off to Wall Street instead of to professions of communal service, to the banks instead of to the rabbinate, to the marketplace instead of to the meeting places of teachers and scholars. And when they make their first big bundle they'll realize it isn't enough by far. And that's when they will become fair game for the next Bernie Madoff.
Catalyst for Change
Every crisis, it's been said, has within it a seed of blessing. The Madoff scandal, with its 50 billion dollar immediate loss and its ripple effect that may well be equally cataclysmic, must serve as a catalyst for change if we are to imbue it with any meaning. The Madoffs of the world must be deprived of their greatest strength -- the power given to them by a Jewish world that has succumbed to values foreign to our faith and antithetical to our tradition.
We must relearn the powerful lesson captured in the story told by the Dubner Magid, one of our most famous storytellers. He described a father in a little shtetl taking his child to the cheder to learn. It's 6:30 in the morning, bitter cold outside. Father and son are huddled together for warmth. All of a sudden they hear music, a loud fanfare, the sounds of a procession in the distance. People are coming to look, leaving their homes, shouting, "The poretz [the Polish nobleman] is coming!" Suddenly from a distance they see a beautiful carriage approaching pulled by a team of magnificent horses. Right near them the carriage stops. No sooner does the servant open the door than out steps the poretz, dressed in all his finery, oozing of opulence, bedecked in jewelry and the costliest of garments. And the Jewish father, seeing this, gives his child a little tug and says, "Take a good look my child. Because in case you don't learn Torah, that's what you're going to look like!"
As we conclude the festival of Chanukah, we have to identify again with Matisyahu and the Maccabees. It was they who looked at a world tempted by the materialistic visions of Hellenism and warned their fellow Jews that if they traded their holiness for the empty rewards of hedonism, that's what they would look like. And we too, if we make the mistake of choosing gold over God as priority, will be easy victims lying in wait, doomed yet again to Madoff mania.
(51) Anonymous, December 20, 2010 9:54 PM
I have been learning about Loshon Hora and just wondered if what we are talking about is just that. Should we not be careful, especially when it is about another Jew, to not say anything bad, even if it is true. I know this is complicated, but just had this question.
(50) Anonymous, December 20, 2010 9:07 PM
You are mistaken about the majority of Madoff investors
A friend of mine was a victim of the Madoff scam and she is one of the authors of a book by numerous other victims and herself called "The Club No One Wanted to Join". Most of the investors were NOT promised unrealistic returns on their money. Most of the investors were very careful to investigate where they were putting their money and were NOT greedy. They have been hurt doubly by people's misconception that they deserved what they got. Their money was supposedly insured by the SEC (Security Exchange Commission) just as money is insured by FDIC in a bank. It is the SEC that let them down more than Bernie Madoff because they refused to guarantee money that was invested in secondary funds and then into Madoff's "investments". Read "The Club No One Wanted to Join" before judging the Madoff victims. It is a remarkable and inspiring book replete with first hand testimony demonstrating an immense amount of courage after tragic loss.
(49) Barbara, January 10, 2009 9:47 AM
Fueled Anti-Semitism
I'm just grieved that Madoff has fueled more anti-Semitism today --- but this article is GOLD -- refined in fire! Wonderful reminder of what to esteem -- G-d not greed---- always! <*{{{>< Wherever I Stand, I Stand With Israel!
(48) JG, January 4, 2009 4:42 AM
I really appreciate this. It is so true, but most of all a reminder of the focus we need to have. Arn't we all tempted to go for the "bling" rather than the singing notes of true holiness? Thank you
(47) Joseph, January 4, 2009 4:42 AM
The Madoff Madness is a very clear message about how far we Jews have strayed from our core values celebrated in Hanukkah. Thank you Rabbi Blech!
(46) Nathan, January 3, 2009 9:41 AM
Amusing...
I find it quite amusing that all these high-profile well payed financial experts were conned by Madoff. I believe that we are constantly paying for this kind of "expertise" whether it is financial experts, management consultants or any other consultants that we have to believe would do the job better than ourselves and take hefty charges as the same time. The Emperor is naked!
(45) Feigele, January 2, 2009 7:50 PM
Rabbi Marc Gellmann's Letter to B. Madoff
I had the privilege to read Rabbi Gellmann's well founded letter addressed to that biggest "ganef" of all times, and believe that justice should be done as for any other crook in same situation and not be judged or labeled as a “Jew”. My heart bleeds even more when I hear that a Jewish person has done wrong in front of the entire world, I feel that a family member took the wrong turn in life, and somehow I feel responsible. A shande. What comes to mind when someone who misbehave in such a way is a Jewish person, is that his/her actions will affect the Jewish community worldwide, especially in a world that is watching every move we make and awaiting such moments when we fail to overcome us. Are'nt we not the chosen and righteous ones to set examples to the world of peace, honesty, loyalty, kindness, compassion, tolerance, humanity, generosity, friendship, and wisdom? But then, maybe it’s time for the world to understand that Jews are as human as any other human beings, blood and flesh with all their flaws, weak and strong, good and bad and that they, too, make mistakes like every other races or religions. We are not different and our brains too could at time disconnect from reality, which might have happen to this individual although you might call it “greed”, which, in this instance and proportion, is a sickness in itself. or is it just a bad apple in the Jewish tree! Maybe it’s also time for the Jewish people to realize that too. We have spent thousand years defending ourselves thinking that we were so different from other civilizations when, in fact, we are all same individuals breathing the same air that this planet is offering us. Would there be any distinction among us all if this was to end? G-d gave oil to the Arabs knowing that they were not capable of doing anything else but he gave us the brains and ability to make money, so when Jews are successful,the world calls it greed.
(44) Mike v. Lange, January 2, 2009 12:22 PM
shame
Shame on Madoff! He brings upon the Jewish Community another unneeded burden which he seems he could care less about. It is hard enough to daily defend the actions of Israel and the deserved successes of the Jewish people to have such a disgusting example of greed, cheating and false promises.
(43) Anonymous, December 30, 2008 8:57 PM
Coming soon: Jerusalem of Gold
Our perspective will change when the day the streets of Jerusalem are paved with gold. Imagine that, what is viewed as so valuable today will be used as asphalt tomorrow - for the sole purpose of being stepped on.
(42) Beverly Kurtin, December 30, 2008 3:07 PM
Don't lose hope
I feel sorry for those who got caught up in Madoff’s Ponzi scheme. There are those that will lambast them for being greedy. Show me a single person in this country that doesn’t have at least a little greed and I’ll put them up for sainthood. The fact is that they are going to have to learn a new way to live. To anyone who got caught up in that scheme, may I recommend that after you get through mourning your losses, which are, I am certain are mind boggling, that you go forward by going backward. In the old days, families lived with each other and shared expenses. When I lost my retirement when the dot-com bubble burst, I felt as if I was going to lose my mind, instead I called my sister who was disabled and living on Social Security and invited her to move in with me. She asked if she could have her daughter join us, I said of course! Now, a decade later, we are watching people having a hard time adjusting to the new financial realities while we have not been touched by the failing economy. We have three incomes which we each put in a fixed amount of money each month to pay for our mortgage, food, car maintenance, etc. That way we never have to worry about our basic expenses. We are living modestly, but we always have plenty to eat, we have a great roof over our heads, transportation and all of the other things we need. If you don’t have family nearby, consider having some friends get together. But make certain that you and they have absolute trust. Frequently we put money into a jar. If you need some money, take it out, when you have spare change, put some in. We never know who is doing what and that is the way we like it. You CAN live through this disaster, all it takes is a willingness to make some mental changes and realize that there are some people in this world who don’t even earn a dollar a week, you have nothing about which to complain. As a new year approaches and a new president is about to take office, I can’t help but be optimistic and I pray that each of you can forgive yourself and Mr. Madoff, I am certain that he is not the happiest guy in the world today. He is probably going to spend the rest of his life in prison, be happy you’re not going to be his cell mate.
(41) Manuel, December 30, 2008 6:19 AM
Mr Madoff shame on you
Mr Madoff is a shame for all the Jews of the World, as we Jews care for one another. Gentiles, now have the chance to say " ah those jews, are all the same kind.." always interested in the money". No matter the effort you make everyday to keep ethics in your business and set a good example for your children at home. The comment will be always there hovering over your heads. When goy Juan Gonzalez is dishonest, they put the blame on Gonzalez, but when Sammie Katz is dishonest "..These dirty Jews,...be careful with all of them.."
(40) RABBI DAVID M. FELDMAN, December 29, 2008 9:42 PM
WE DO HONOR OTHER THAN MONEY PEOPLE
WITH GREAT RESPECT FOR RABBI BLECH, HE WOULD BE HAPPY TO BE REMINDED THAT Y.U. DOES NOT ONLY HONOR THE MONEYED, AS IMPLIED IN COMMENTS HERE AND IN THE NY TIMES. Y.U RECENTLY CONFERRED AN HONORARY DEGREE ON CLARA HAMMER, "THE CHICKEN LADY" IN JERUSALEM, FOR TIRELESSLY RAISING MONEY TO SUPPLY CHICKEN FOR SHABBOS TO POOR FAMILIES.
(39) Anonymous, December 29, 2008 3:38 PM
Reb Shlomo Freifeld
Excellent article. A secular Jew once visited the Sukkah of Reb Shlomo Freifeld. Seeing many pictures of many Gedolim, he asked who these gentlemen were. Reb Shlomo replied, "They are a species that existed before World War II. That species is almost extinct. They are called Human Beings."
(38) jtpowell, December 29, 2008 2:32 PM
What about the rest?
The Rabbi makes no comment on the many investors who never even heard of Madoff but had invested in other managed funds who's money was later given to Madoff. Those people are about as hapless as those about to retire and have lost most of the value of their 401K. These are people that followed the rules, people who are generally neither greedy nor abudantly ignorant but the sufferers of the consequence nontheless.
(37) Judy, December 29, 2008 10:34 AM
Madoff and being Jewish
I know there are many people who will read about Madoff and their first thought will be "A Jew..." But the people hurt by his actions are Jewish as well as other religions. Why should we feed into the anti-Semites' views by pointing out his religion? Did Madoff really do what he did because he is Jewish? No! He did it because of his views about what he could get away with. No Jewish upbringing or education taught him that.
(36) Guillermo, December 29, 2008 8:41 AM
Excellent article
I do agree with the Rabbi. For those who think that being a good woman/man doesn't buy you a loaf of bread, look at yourself inside, perhaps one is the baker. The example of the Wall Street movie is excellent "...Greed for lack of a better word is good...", unbelievable! We, Christians, have exactly the same problems. Our children learn, the rich is always right, and the poor are powerless. May God bless all of us and give us the wisdom to live thru these most difficult times. I think it will get worst before it gets any better. Thank you very much for the great article and your execellent guidance.
(35) Dianne Shames, December 29, 2008 8:24 AM
College students admire...
In my college English class, we read a story about "august people." To demonstrate what the word "august" means, I ask the class to think about someone that we would all know whom they consider and august individual. They only name dead people. Everyone living seems to have feet of clay, and though we know that it isn't true, that there are good, caring people in the world today, the very idea that they cannot name one, saddens me.
(34) Carleton Shepard, December 29, 2008 5:59 AM
Who knew.....
that Madoff was a sociopath? He had an impeccable background. He had one of the highest positions in the world of finance. People of all religions suffered from his deceit, why do you make this a "Jewish Problem?" This guilt thing that causes you to continuously chide yourselves, should stop. You only feed all the "Jew-haters of the world. Stop playing into their hands!!
(33) Marc Milton-Talbot, December 29, 2008 1:21 AM
Favourite saying
My dad was fond of saying when we were kids:"If you want to know what God thinks of money,take a look at the people He's given it to."
(32) Anonymous, December 28, 2008 10:07 PM
Best of the Best in the Rabinnate/Kiruv are leaving...$$$... :(
There is a subtle but definite exodous of the truly taleted Rabbinate and Kiruv proffessionals. So sad. But money is the only driving force in todays world. So much so that the truly talented dont want to be held hostage by it. So sad. So sad....
(31) Anonymous, December 28, 2008 10:00 PM
Our Forgotten Values
Sorry to say but the Madoff madness has penetrated every level of most American Jewry. The lavish affairs, (whether it be a brit or a wedding), the gifts a Kallah "must get", the dowry a chasan "has to receive" if he is "sitting and learning", the "labels" on clothes, the competition between our youth who "cannot wear the same thing" more than a few times lest they become the laughing stock of the "in crowd", the "designer" pocketbooks, the "nice" cars boys must have when going out on dates,... the list of the "important" things in life is, sorry to say, endless. The influence of the American "dream", has gone out of control and is so prevalent and so pervasive, that the average Jew today does not even realize its deadly influence. Thank you for analyzing what is happening to American Jewry. I only hope that we will catch on before the damage is irreversible.
(30) Anonymous, December 28, 2008 9:33 PM
One answer
The only answer that makes sense to me is by Sid Laufer. In my world Hashem only helps those who help themselves. Furthemore, I did not invest with Madoff, but he is certainly a monster who 'burned' a lot of Jews. It gives him something in common with other monsters.
(29) Marlena Ariel, December 28, 2008 9:24 PM
It is one of the finest articles I have ever read.
(28) Bill, December 28, 2008 9:08 PM
B. Madoff has revealed the hypocrisy in secular American Jewish society.
Excellent article, Rabbi. Truly, the emperor has no clothes - naked greed and financial cruelty against Jews, by a Jew, is a sign of the times.
(27) Wendy, December 28, 2008 8:18 PM
Post script
This affair has been a major *shonda* for all Jews and interestingly I feel there has been a dearth of "Jewish" moral reaction to it. As usual whenever there is negative news involving someone Jewish, I am concerned about the anti-Semitic fallout it will create. Indeed, I wonder whether there is Jewish leadership to distancing ourselves from it, or otherwise declare that the wrongdoer was way off the Jewish track in what he/she did. Blech hit the mark in saying that Madoff's ambitions [to be wealthy] were Hellenistic. In that case, so are the goals of much of the Jewish community at large. But is it so clearly 'black and white'? Interestingly, this author is a professor at Y.U., which lost so much in its investments with Madoff. Vis a vis this article, could one say that YU is "materialistic" in hoping to maximize its endowments, or rather, just being "wise" to do so? Perhaps the Board of Trustees are to blame for their poor oversight, but Jews are usually credited with being wise with money, ever since the days of the Pale when that's pretty much all we were allowed to do for a living. Being successful financially, at least to some degree, does not necessarily mean losing our soul, or looking gaudy like the Polish nobleman. [In fact, it is the modern Chassidim who emulate and dress like the Polish noblemen of the past. That's an irony, considering the Dubner Magid's story.] I don't know that there is a mutually exclusive relationship between learning Torah and having some material comforts enough to live. And that is not to say that if one chooses not to immerse in study of Torah, that he will look dripping rich and gaudy like the nobleman in the story, or for tha matter achieve any wealth at all. Ideally we should strive to make room in our lives for Torah and at the same time enjoy financial success in whatever we endeavor so long as it is honest, legal work, and beneficial to mankind.
(26) Anonymous, December 28, 2008 6:35 PM
Fodder for the Anti-Semites!
Mr. Madoff's actions have reinforced all the stereotypes that anti-semites have of Jews. Money lenders, crooks, untrustworthy, greedy, etc... It seems obvious that those who work on Wall Street do not believe in G-D, they worship money. I believe the Jewish community has turned a blind eye to white collar crime for many years, as the charity was rolling in. Why not comment on the actions of Goldman Sachs, Bear Stearns or Lehmann Brothers. How many con men and criminals exist there? Goldman advised it's clients to short sell New Jersey Debt, after they helped sell it. They advised investors to short certain mortgage derivates, after they sold it to investors knowing that they were going to "implode". Bernie Madoff is just on cockroach, there are many others.
(25) Leah, December 28, 2008 5:45 PM
response to Sid
Yes, Sid, but 50 BILLION dollars worth?
(24) ruth housman, December 28, 2008 4:46 PM
Madoff
Madoff "made off" with a lot of money, in fact,a staggering amount of money. I don't think of this as a particularly Jewish scandal. We find people everywhere who do these things. It's seems a human trait to bilk people, to steal from others and certainly greed is ubiquitous and this idea we "need" so much is a problem certainly in Western society in which we are groomed by ads and each other, to constantly "need", even when we have ample amounts of everything and beyond. Sometimes people who start with good intentions do get in over their head, and even Mr. Madoff might have wound up in an untenable situation that got worse and worse for him, but that was not initially intended to defraud. I simply, don't know. I am not sure I would keep bringing in The Greeks. I think we are all of us learning and borrowing from each other, and that essentially we all do draw from the same Well. I am grateful for diversity in life and grateful for those gifts we did get from the Greeks and also from all other cultures. For me, there is a truth to the statement, most quoted, by Keats, that Beauty is truth. If we spend time contemplating beauty, in nature, in this world, in sunsets and dawns, and in the miracle of life itself, well, that beauty is Truth, in my mind. It's all in the spin we bring to things. There is never any time given in these Aish pages to love for the environment. I find this a deep, deep omission. Love has many dimensions and truth, the notion of truth, has every thing to do with the beauty that is about loving itself. There is a rich heritage we all gained from the Greeks. They weren't all bad. Neither are we all good. We are human, all of us, meaning we have faults and frailties. Our history isn't all golden. Humility is the key. And diversity should be a celebration of each other. We are ALL, in deep and ongoing ways, part of ONE creation. To remember this, as Jews, is important.
(23) Grace B. Ellowitz, December 28, 2008 4:14 PM
Madoff is a vulture, not a Jew
The acts of Madoff are entirely unJewish. It pains me to even refer to this vulture as a Jewish man. There must be in our culture a place where we lose our authenticity when performing unJewish acts. This is an example of losing one's recognition as a Jew.
(22) Arne, December 28, 2008 3:42 PM
Honoring wealth
As a middle class Jew, I feel the sting of the attitude of the elite in Temple and coommunity/federation life. I attend sevices occassionally and have talked to and met the Rabbi. However, if I see him outside of the Synagog, he does not acknowledge me. This has caused some embarrassment as I have been with co-workers and friends and said, "Oh, ther's my Rabbi" and gone to greet him. He appears to have never seen me before. I know he talks to others who set up a trust fund under the control of him. I can not and probably would not do so. I do give time and expertise to the Jewish Family Service but not a lot of money.
(21) Bernie Siegel, MD, December 28, 2008 2:56 PM
success versus happiness
if you are happy you are a success. if you are a success you are not happy. i meet children from wealthy families who have said, "my father ruined my life when i was 21. he gave me a million dollars so i had to be a success." money is to make life easier for people and not to fight over. 96% of lottery winners 5 years after winning say it was the worst thing that happened. so when you win thwe lottery say oh god why me and when you get canecr say what can i do with it. as job said, naked came i from my mother's womb abd naked shall i return."you can't take it with you.
(20) malkiel velvel, December 28, 2008 2:46 PM
Your analysis manifests to succor amidst the maddening crowds..
The evidence and truth in Torah either manifests the guilt of the defendant or the guiltlessness of the righteous ie.,the Torah keeper.We all have a choice : choose eternal Torah , embodied with everlasting pearls of wisdom multi-layered with rich abundant unending supernatural blessings.Even the yoks know this...Truth !
(19) eliezer sareshefksy, December 28, 2008 2:44 PM
I respect the Rabbi for being a Rabbi and educator. But I consider it disrespectful to a successful person who does not become a scholar or enter communal service as stated by the Rabbi.Maybe individuals work hard to make a good living to educate their children at good schools, paid for with their hard earned money and not seeking aid or scholarships, allowing them to be charitable. Where would the Day Schools, Yeshivas and Shuls be without the support of successful hard working individuals who choose to enter the business world, work to be successful and support the institutions that constantly ask for support? Communal service is not for everyone but to paint individuals as greedy is an insult. Rabbi, your choice of example is poor judgement and uncalled for.
(18) Beverly Kurtin, December 28, 2008 2:18 PM
Regulations and Greed
Madoff. There is a name that is going to live in infamy along with Ponzi. At least Ponzi thought he was doing something legal and honorable, Madoff knew he was running a scheme that would someday crash, leaving people out in the cold. But it would have been impossible for that to happen had not people let their greed overshadow their intelligence. Money, it is said, is the root of all evil. That is not so. The LOVE of money is the root of all evil and we are witnessing that today as (almost) never before. The crash of ’29 was caused by unbridled and unregulated greed. People kept investing money that should have gone for food into the stock market. Is it any different from people today who spend their paycheck on lottery tickets, hoping that this is the time they’re going to win big. The only winner is the various state’s coffers. I’ve zero sympathy for people who are being evicted from their homes because they bought half-million dollar homes when all the income they had was their Social Security or welfare. My heart does bleed, however, for those folks who bought wisely only be laid off when their jobs were outsourced to India or China. The brokers ought to be imprisoned for the rest of their lives in Death Valley with nothing more than a tent for shelter. They are the arch criminals of today but thanks to one of the worst presidents we ever had, Ronald Reagan, all regulation was done away with. People who are hurt and can’t work have to spend months and even years trying to collect their Social Security Disability checks because of Regan’s thoughts that every one who is disabled is lying. Why some people still venerate him is beyond my ken. In the mid ‘80s the S&L industry had been unregulated and they went crazy, hurting G-d only knows how many people. I lost my job as a commercial real estate analyst when our clients couldn’t pay for their subscriptions to our publications. I was in my mid-40s and ran head on into ageism, the only way I survived was to open my own company, ghost writing speeches for CEOs and the like. I put my surplus income into savings bonds, I did not trust banks or S&Ls. The taxpayers in the United States just gave away close to a trillion dollars to banks and other institutions and they did so with NO STRINGS or REGULATIONS attached. Their CEOs will still get obscene bonuses and salaries for FAILING. When they are asked what they are doing with the money, we are told it is none of our business. I just pray that a new administration is going to right some if not all the ills of our financial institutions. If it doesn’t, well, welcome to the great depression of 2009—that will be something to tell your grandchildren about. In the meantime, we’ve stocked up on rice, beans, flour, canned vegetables, etc. We will be alright, I just pray that other will get the heads straightened out before it is too late. As for Madoff, he has said that he expects to spend time in prison. It is such a shame that greed drove everyone he cheated into the poor house, but that’s what people get for not observing the tenth commandment. Pray for the peace of Jerusalem.
(17) Dan, December 28, 2008 1:49 PM
Your half right
I think that Madhoff took the idea of making money to an extreme. This is common among some secular and some religous Jews. However making a living is very important, especially if you want to live a Jewish life. Here in Los Angeles a Jewish School costs $13,000 just for kindergarten. Housing runs into the $800,000 range. Without making a decent living how is a person who wants to raise a Jewish family supposed to live? On the other hand I think it is irresponsible for some religous Jews to have 10 kids and go on welfare while the mother works and the father is studying at the Kollel all day.
(16) sarah carlen, December 28, 2008 1:17 PM
The Jews have forgotten about the Torah values and replaced them with hypermaterialistic ones.
I am very happy and grateful for this article because many of our young - and not so young - people are ashamed and embarrassed to be identified with the same ethno-religious group as Madoff. This article succintly reminds them that they should not impute the responsibility of such a despicable behaviour to Madoff's religion and education, but SOLELY to Madoff's pathological megalomania and endless greed. As well, we should remember that many of Madoff's victimes were themselves Jewish, therefore his behaviour was not directed exclusively against all the non-Jews of the finance world, it was pro-Madoff at all cost. Articles like this one go a long way, I believe, in restoring their loyalty to, pride in and love for their precious heritage in our children. Thank you.
(15) Avraham Broide, December 28, 2008 12:55 PM
Greed is timeless
The Talmud already said, "He who has a 100 wants 200." In "Huckelberry Finn," Mark Twain describes how a negro slave opens a bank, promising big profits, and tells his hapless depositors a week later that the bank is bust. Greed is universal and timeless, afflicting haves and have-nots.
(14) sid laufer, December 28, 2008 12:41 PM
Ido not agree entirely with the Rabbi. I believe in assisting my fellow man but at the same time accumulating wealth for my old age.If Igo to the baker without money see if he will give me loaf of bread because Im a good person
(13) Tamar, December 28, 2008 11:59 AM
The Golden Calf Re-run
Worshipping gold seems to be a common human weakness throughout the ages. The golden calf comes to mind, and the people were judged for it. This article is right, Madoff played on this common weakness in humans. It is God who gives us the ability to get wealth. The Lord gives and takes away, blessed be the name of the Lord no matter the circumstances. In the end we lose it all anyway. In the meantime we are stewards for God's wealth entrusted to be wise stewards. Greed blinds us all. How much is enough? The answer is always the same, a little more. But wealth never satisfies. Only God gives us Peace.
(12) Bobby 5000, December 28, 2008 11:35 AM
the real cost of the Madoff fraud
The true cost of this monstrous fraud to families will be seen many months from now. Couples can and should discuss what happened, why this individual was so trusted, why there was no outside verification, and why assets were so concentrated. Questions will be asked 1, 2, 5, indeed 20 or 25 times. However, at some point couples will need to recognize that what is done is done, and any recovery is problematic. The spouse who continues to ask each day and night about his or her money will eventually destroy the marriage and perhaps her or himself. I had a grandfather who lost substantial money in the stock market, most of what he owned and died of a heart attach at 57 years old. While the money was surely important, the real loss was the failure to see his grandchildren grow, and they to see him. Had he persevered, he could have sought better medical attention, enjoyed what life had to offer and recognized that no price can be put on a day with your grandchildren or family. Families and those affected will ultimately have to place these catastrophe in perspective, very serious but not life-threatening, and continue to live the life they were given. The real tragedy will not be financial but for many this event will dominate the remaindder of their lives and help destroy their families.
(11) Chana Solomon, December 28, 2008 11:25 AM
Thank you, Rabbi Blech!
I am a poor Jew. I recently made the acquaintance of a well to do Jewish lady. She was a very nice person, just lovely. But, I felt so inadequate and inferior just by virtue of being happy with the blessings that I have. I have what Hashem wants me to have, what more could I ask? But, for that moment in time what is given me and my purpose for being seemed so inconsequential.... You have restored my sense of balance, and reminded me that my priorities are in order. Your column was a great mitzvah in my eyes, and gratefully received.
(10) Rina, December 28, 2008 11:18 AM
Incredible
Thank you.
(9) Brad, December 28, 2008 10:23 AM
Time Magazine should have Madoff on the cover with SHAME written across his face
Very interesting article. The key thing about Madoff for Jewish people, is not that investors sought to increase their holdings, it's that Madoff blatantly and deliberately cheated major Jewish charities and many Jewish people. Jews have few friends in the world, and the worst thing that Madoff did is cheat other Jews, and by doing so, his actions will increase non-Jews anti-semetic feelings. The issue is not about greed, the issue is about trust. Madoff has shamed himself and his family and has done tremendous harm to the Jewish community. I would like to hear Rabbi Blech also address these points.
(8) yitzchok, December 28, 2008 9:26 AM
please send me a copy!
beautifully written, i'd like to share it with my class.
(7) Yale Shulman, December 28, 2008 8:54 AM
Who is to blame and what's the solution?
Rabbi Blech's analysis is excellent and insightful. However, I am not certain that we can label greed, conspicuous consumption, and materialism traits that Jews learned through assimialtion. Furthermore, what is the solution, both for the individual and for the Jewish (and non-Jewish) society?
(6) Howard Newman, December 28, 2008 8:42 AM
UJA
The Madoff scandel is the inevitable outcome of substituting the Federation movement, where money is power, for the synagogue, where knowledge should be power, as the central instituion of American Jewish life
(5) Teardrop, December 28, 2008 8:24 AM
It's a Fallen World
While his actions were sad, I personally do not see them as the actions of a Jewish man, but just a man. Why would anyone eat forbidden fruit in a perfect environment? We are still trying to answer that one on a daily basis. What crouches at the door? We must all be watchmaen on the walls of our lives. Our highest standards must be for ourselves as we are most often our own greatest disappointment. I have no stone to cast at him.
(4) Anonymous, December 28, 2008 8:21 AM
If a solid yeshiva education wasn't so expensive, then more people would go into work in communal areas but when high schools are charging 30,000 a year... Thats 120,000 per child for the 4 years. Times that by 3 children and thats 360,000 thousand. That doesn't include lower school bills. YU is now up to 45,000 a year and then there is the obligatory year in Israel at 20,000. That's the main issue.
(3) Thomas Levine, December 28, 2008 8:12 AM
Well said! Hashem has many ways to keep reminding us!
The reminders from Hashem keep getting larger until we take note and change behavior. I heard the message. How many others?
(2) Yael, December 28, 2008 8:10 AM
Astute
Very well put. -Yael Mermelstein
(1) Anonymous, December 28, 2008 6:15 AM
How true.
Thank you for wonderful insight. We (I) get so caught up in work and life that we become twisted around and forget what is truly valuable.