Thursday, January 01, 2009

Always On The Sunny Side

It seems hard to believe that something as disgusting as the Madoff scandal could have a silver lining, but this e-mail from proves that there's always a ray of light behind the darkest cloud:

You've probably heard about how Wall Street financier Bernard Madoff scammed investors out of at least $50 billion.

But you may not have heard that his victims included the foundations that support some really important progressive organizations. Groups that fight for human rights, fair elections and racial justice are getting hit hard--just in time for the holidays. We've worked side-by-side with many of them.

If these groups can't replace the funding that came from investment accounts that Madoff stole, they may be forced to start cutting important projects or, in some cases, even lay off staff.

That's a shame. Too bad Soros was too smart to get tied up in the Madoff meltdown or the progressive groups would be doing some real scrambling for funds.