17-12-2008, 05:58 PM
(This post was last modified: 17-12-2008, 06:02 PM by Peter Lemkin.)
http://www.democracynow.org/2008/12/17/a..._charities
The Securities and Exchange Commission has admitted it missed repeated opportunities to discover what may be the largest financial fraud in history, a multi-billion-dollar pyramid scheme operated by Wall Street legend Bernard Madoff. Now several non-profits and foundations are being forced to close, because their entire endowments have been wiped out. We speak to Robert Crane of the now-shuttered New York-based JEHT Foundation and ProPublica reporter Paul Kiel.
The Securities and Exchange Commission has admitted it missed repeated opportunities to discover what may be the largest financial fraud in history, a multi-billion-dollar pyramid scheme operated by Wall Street legend Bernard Madoff. Now several non-profits and foundations are being forced to close, because their entire endowments have been wiped out. We speak to Robert Crane of the now-shuttered New York-based JEHT Foundation and ProPublica reporter Paul Kiel.