Monday, January 05, 2009

Madoff Ponzi Scheme Hits Leftist Groups

Because of left-wing bias and skewed news reporting, I am watching less and less of the news reports on T.V. Even Fox News has gone down hill lately. Have you noticed the lean towards the left over there lately? Must be because 9% of the corporation is owned by a Saudi billionaire who doesn't want the truth about far left schemes and evil to be exposed.

In fact, I did not even know that the Madoff Ponzi scheme led to the De-funding of Leftist causes.

Take a look at the kinds of "charities" and awful organizations that were being funded:

Article excerpt:

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.

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).

Another affected charity is the JEHT Foundation, which said it expects to close down in January because its benefactors invested in Madoff’s hedge fund. JEHT, an acronym that stands for Justice, Equality, Human dignity and Tolerance, is a reliable funder of far left causes and has given away more than $72 million in grants since heiress and Democratic donor Jeanne Levy-Church founded it in 2000.

JEHT gave $1.7 million to the ACLU and its foundation, along with $839,500 to the ultra-leftist public interest law firm, the Center for Constitutional Rights. CCR helped to convince the Supreme Court in Boumediene v. Bush (2008) to confer habeas corpus rights for the first time in history on alien enemies detained abroad by the U.S. military in wartime. The decision gives terrorists a green light to manipulate our justice system and flout the well-established laws of civilized warfare.

JEHT gave $250,000 to the American Institute for Social Justice, an ACORN affiliate. The Saul Alinsky-inspired Institute trains community organizers and in recent years has served as a shadowy financial clearinghouse, directing $9 million to ACORN and two of its other affiliates.

Three abortion organizations? (Ugly - the American holocaust.)

NINE MILLION TO ACORN? (Took a lot to buy the election for Obama...didn't it!)

JEHT used the money for: "gave $1.7 million to the ACLU and its foundation, along with $839,500 to the ultra-leftist public interest law firm, the Center for Constitutional Rights." In other words - money given to give terrorists a green light to manipulate our justice system!

Did anyone reading here know about any of this until reading this post? I haven't seen the Media of Mass Deception reveal these facts. That's why I now get 99% of the news via Internet websites and blogs.

The second page reveals some unfortunate victims of this Ponzi Scheme. But, am I glad that the aforementioned ones got hit? YES!

Alas...the Madoff Ponzi scheme won't change anything. There is always another evil financier waiting in the wings to continue doing damage through funding these ugly, ultra-left-wing "marketing of evil" organizations.

Article conclusion:

Of course the left won’t be crippled by the loss of funding caused by Madoff’s hedge fund fraud.

Hedge fund manager George Soros is standing by.

Hat Tip: American Spectator


Anonymous said...

How heartbreaking!

Seriously, while it is good to see the baby-killing / election rigging organizations lose money a lot of normal people got hurt as well.

And I'm sure Soros and the like will keep them in business.

Christinewjc said...

You're right. A lot of normal people did get hurt and I am grieve for their losses.

I recently heard that Madoff sent a million dollars worth of jewelry (I think it was stolen in some way through his scheme?) to relatives as 'Hannakuh gifts.'

The guy must not have a conscience nor any sense of decency or morality!