The real Madoff scandal: Big endowments http://blogs.jta.org/ENTRY_PERMALINK_HERE/are-endowments-wise-investments/ Former White House Jewish liaison argues that the real Madoff scandal was that the Jewish community was sitting on vast pools of accumulated wealth, much of it used to little effect. en-us jberkman@jta.org Copyright 2009 2009-02-26T;21:12:00-05:00 Comment by Richard C Dennis dixiedee13@aol.com he trouble is, if someone was to come to each one of those Jewish foundations, shuls, temples and individuals to tell them that they were about the lose their investments, endowments and money in general, maybe one out of ten would have taken the hint and put their money in a more secure location. You and I already know that. All you have to do is to sit in on a shul board of directors discussion about financial matters. There is always one someone who will control the meeting and future of that shul with his so-called knowledge, probably because he is an attorney, CPA or doctor, all of whom are no more knowledgeable than the rest of us. Us Jews always feel we know more than the next guy sitting next to us. That’s where that expression comes from: Israel has six million presidents. he trouble is, if someone was to come to each one of those Jewish foundations, shuls, temples and individuals to tell them that they were about the lose their investments, endowments and money in general, maybe one out of ten would have taken the hint and put their money in a more secure location.

You and I already know that. All you have to do is to sit in on a shul board of directors discussion about financial matters. There is always one someone who will control the meeting and future of that shul with his so-called knowledge, probably because he is an attorney, CPA or doctor, all of whom are no more knowledgeable than the rest of us.

Us Jews always feel we know more than the next guy sitting next to us. That’s where that expression comes from: Israel has six million presidents.

]]> 2011-02-25T;01:28:00-05:00