Money, Madoff, Seniors and Struggles

NO this is not the lazy way out - sending you to another blog.  Ronni Bennett is a highly visible, highly regarded "elder blogger" and has formed a large, vital community around her blog Time Goes By.  A retired CBS News producer, she moved from Manhattan to Maine for a more affordable standard of living and she's got her fingers on many pulses.  Today, she writes about the already tragic costs of the economic crisis for "the rest of us" - those not losing fortunes because of Bernard Madoff but just losing ground.

I think the Madoff story is worth the attention it's getting,  not just or even mainly because of the damage it did to high-end investors but because someone of such stature (Head of NASDAQ) would - and could- do such things - and that he got away with it for so long.  It's institutionally mind-blowing.  As I wandered the web reading stories for this post, I discovered more reasons, too.  It did disproportionate damage to Jews and Jewish charities - and Madoff was Jewish.  Another "how could he?"  Non-profits around the world, literally, are devastated; an example of the non-profit chaos generated by Mr. Madoff's activity. 

Even so, Ronni's point about the focus on the big stuff when there are so many stories, especially at this time of year, is worth taking a look at.  She's right about that; we need to see more profiles of those people who "work hard and play by the rules" and are struggling to figure out how to survive.  They're our neighbors - and, in many cases, they're us.

Comments

[Cynthia Samuels]

I'm with you all the way Ronni. You're right. I just am so troubled by the larger awfulness of this betrayal. Too much of a nice Jewish girl I guess.

[Ronni Bennett]

The Madoff ripoff is astounding in its size and widespread effect, particularly so in that it was perpetrated by one person who, apparently, was beloved by many.

My objection is aimed at the media that has responded with stories of how the rich are suffering. The difference between downsizing from a penthouse to a one-bedroom is hard to sympathize with when elders who need assisted living cannot now afford it thanks to the alleged crimes of Mr. Madoff.