As reported in previous Global Investment Watch posts, the name Bernie Madoff has become synonymous with the word greed. One angle on the Madoff mess that is particularly distressing to us is that a number of organizations that we rely on for our research at JMR Portfolio Intelligence have been harmed. In the last few days I have received appeals from the Business & Human Rights Resource Centre and from Eli Pariser at MoveOn.org asking for money on behalf of the following organizations: The Brennan Center for Justice, Human Rights Watch, the Advancement Project, and the Center for Constitutional Rights. These organizations rely on support from foundations that trusted Madoff with managing their funds.
As far as bailouts go, I certainly don’t mind chipping in to help these organizations continue their good work, but what a sad scenario. It reminds me of the question asked in the brilliant 2001 animated film Waking Life: “Which is the most universal human characteristic: fear, or laziness?” I love the question, but I have often thought that greed should be one of the choices.
Here’s to a new year with a little less greed, fear and laziness. Cheers!
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