Saudi Press

Saudi Arabia and the world
Wednesday, Apr 01, 2026

Opinion | How do you mourn someone like Bernie Madoff?

Opinion | How do you mourn someone like Bernie Madoff?

It’s wrong, no doubt, to take pleasure in a man’s death. And yet it’s difficult to feel sorrow for a man who has been the cause of so much suffering.

When I heard of Bernie Madoff’s death Wednesday in a federal prison hospital at the age of 82, I confess I couldn’t decide how I felt. I was for sure not happy. But nor was I sad. I struggled to know how to feel — how I should feel.

My mother, of blessed memory, would have called Madoff a "gonif," a Yiddish term not of endearment, as it means a thief or at a minimum a dishonest person. Madoff ran the largest Ponzi scheme in history, an estimated $65 billion financial fraud, before being arrested in 2008, convicted and sentenced to 150 years in federal prison. A gonif to say the least.

Even former President Donald Trump wrote that Madoff was “without a doubt a sleazebag and a scoundrel without par.” Perhaps that’s why he didn’t grant his request for a commutation, consigning him to living out his last days behind bars.

So what am I to feel as I process this not-so-unexpected news of Madoff’s demise? It’s wrong, no doubt, to take pleasure in a man’s death. And yet it’s difficult to feel sorrow for a man who has been the cause of so much suffering for so many others.

We all heard the big names that were taken in by Madoff’s scheme — Elie Wiesel, Steven Spielberg, my childhood sports hero Sandy Koufax, to name just a few. But countless others, less rich and not famous, within the Jewish community and without, also put their trust in the man and fell victim to Madoff’s enormous swindle. I personally know many who have suffered from Madoff’s colossal scam.

Indeed, I had a front-row seat to the devastation. I handled public and media relations for — among many others — the major Jewish charitable organization Hadassah, the Women’s Zionist Organization of America, as its leadership came to comprehend the damage that had been inflicted upon them and then to pick up the pieces, reorganize their affairs and seek redress over the tens of millions of dollars they are estimated to have lost.


I witnessed firsthand the similar effects Madoff’s crimes had throughout the world of Jewish communal and educational organizations, the material loss to Jewish philanthropy as a whole —perhaps more than $1 billion. It was crushing.

And I observed how these organizations — some venerable fixtures, others small and hard-scrapple — had to cut programs, terminate grants, lay off employees, close offices and struggle to raise emergency funds just to keep the lights on. So even though I never met Madoff personally, I feel I developed a long and unhappy relationship with the guy.

Given the communal devastation, the Madoff affair has forced upon us an accounting — not only financial, but also social and moral. It has compelled many of us to look more deeply at ourselves and our choices — at our own willingness to trust someone who was offering something that should have appeared to be too good to be true. It clearly was.

Perhaps we trusted him because our families and friends and colleagues did, because we wanted to be part of a great deal that so many rich and famous were part of, because he was part of “our tribe.” And maybe we were proud of his achievements: He was another of those wildly successful American Jews — the Sandy Koufax of Wall Street.

The organization I consulted (one of many) was embarrassed by their relationship with Madoff. As the story unfolded, they didn’t want to call public attention to how much they had invested with him nor how much they had lost in real investments nor imagined profits. From being one of the most celebrated grassroots philanthropies in Jewish history, they quickly lost ground because of their perceived opaqueness.

Of course, we can also go too far in self-blame for any given organizational or communal mistakes — the ultimate responsibility lies with Madoff. Thankfully, some degree of justice has been served to him. He pled guilty and the proverbial book was thrown at him. On account of the tireless efforts of the trustees assigned to the liquidation of Bernard L. Madoff Investment Securities, more than $14 billion of the $17.5 billion of the actual money that Madoff had stolen has been recovered and restored to the victims.

So the wounds are healing, but the scars are still there. And looking back, the destruction — the human cost — left in the wake of the scandal is mind-numbing, even now. Some individuals and small organizations are still struggling to survive, and some will never fully recover.

We are not to rejoice in the demise of our enemies, one of my rabbis, Lauren Holtzblatt of the Adas Israel Congregation in Washington, D.C., reminds me. It was Rabbi Holzblatt who so wonderfully eulogized the late Supreme Court Justice Ruth Bader Ginsburg when she lay in state in Statuary Hall of the U.S. Capitol only a few months ago.

I pondered her words, recalling that, just weeks ago at the Passover Seder, we once again retold the Talmudic story of the Israelites’ escape from the bondage of Egyptian slavery and their crossing of the Red Sea. When the waters came crashing down upon the Egyptian pursuers, the angels began to celebrate in song. It was God, we learn, who sternly admonished them, saying, “My handiwork are drowning in the sea, and you are reciting a song before me?”

I understand the lesson. At the same time, we are humans, not angels. Bernie Madoff did terrible damage. Some are still coming to terms with it; for many it will be everlasting. It was not only the theft of their property, real and promised, that was lost. It was also the betrayal of their trust, and the betrayal of the very ideals that all of these organizations were committed to putting into action — of giving to others in order to mend the world. It’s impossible to forget. It’s difficult to forgive. And yet …

BD”E. The letters stand for “Baruch dayan emet,” the Hebrew phrase uttered by many Jews upon hearing of someone’s death. It means God will be the ultimate judge. That works for me.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia Updates Travel Advisory as Regional Conflict Intensifies
Saudi Arabia’s Sadara Suspends Petrochemical Production as Conflict Disrupts Operations
Iran Urges Saudi Arabia to Remove US Forces Amid Escalating Regional Tensions
Gulf Allies Urge Trump to Sustain Campaign Until Iran Is Fully Defeated
Saudi Arabia Unveils Strategic Rail Freight Corridors Connecting Gulf Ports to Jordan
Saudi Arabia Intercepts Drones and Ballistic Missiles in Major Defensive Operation
Houthi Escalation Opens New Front in Expanding Iran-Linked Conflict
Major Saudi Chemical Plant Halts Operations Amid Regional Conflict Disruptions
Strike on US Radar Aircraft in Saudi Arabia Signals Escalating Threat Capabilities
US Citizens in Saudi Arabia Advised to Shelter Indoors Amid Rising Regional Tensions
How Britain’s Prime Minister Controls U.S. Bomber Access in Escalating Iran Conflict
Saudi Arabia Urges Trump to Lead Strategic Reset in Middle East as UAE Weighs Ground Role
Reed Smith Expands Saudi Presence with Senior Corporate Appointments
Trump Announces Approval of F-35 Fighter Jet Sale to Saudi Arabia
BBC Faces Scrutiny Over Allegations of Paid Content Linked to Saudi Arabia
Ukraine Secures Defense Agreements with Qatar and Saudi Arabia as UAE Talks Advance
Oil Prices Surge as Saudi Arabia Adjusts Supply Amid Escalating Iran Tensions
Saudi Arabia Condemns Attacks on Kurdistan Leaders and Reaffirms Backing for Iraq’s Stability
Saudi Arabia Weighs Strategic Interests as Iran Conflict Raises Regional Stakes
Severe Thunderstorms Sweep Across UAE and Saudi Arabia Bringing Heavy Rainfall
Trump’s Strategic Alignment with Saudi Arabia Reflects Expanding Economic and Diplomatic Synergy
Saudi Arabia Strongly Condemns Attacks on Presidential Residences in Hawler
Saudi Stocks Edge Lower as Tadawul Index Closes Slightly Down
Houthis Enter Expanding Iran Conflict as US Deploys Additional Troops
Iran Seeks Assurances for Regional Allies as Saudi Arabia Presses for Firm Security Guarantees
Iranian Strike Reportedly Destroys $270 Million US E-3 Sentry Aircraft at Saudi Air Base
Iranian Strike on Saudi Base Leaves Ten American Personnel Injured
Ukraine Claims Russia Shared Satellite Intelligence with Iran Ahead of Saudi Base Strike
Pakistan Engages Regional Powers in Diplomatic Talks Over Iran Conflict
Escalating Iran Conflict Brings Renewed Focus to US Military Presence in Saudi Arabia
Iranian Strike Targets Saudi Airbase, Damaging Key US Military Assets
Modi and Saudi Crown Prince Emphasise Secure Shipping Routes in Talks on West Asia Conflict
Dallas-Based Company Secures One Billion Dollar Hotel Development Deal in Saudi Arabia
Zelensky Secures Defence Cooperation Deals with Gulf States During Strategic Regional Tour
Trump Calls on Saudi Arabia to Join Abraham Accords in Push for Expanded Middle East Cooperation
Trump Balances Humor and Praise in Remarks on Saudi Crown Prince
Saudi Arabia’s Strategic Pipeline Reaches Seven Million Barrel Capacity to Bypass Hormuz
Rubio Signals U.S. Could Conclude Iran Conflict Within Weeks as Air Campaign Intensifies
More Than a Dozen U.S. Soldiers Injured in Saudi Base Attack as Iran-Backed Houthis Expand Conflict
Iranian Strike on US Base in Saudi Arabia Injures Troops and Damages Aircraft
Pakistan to Convene Regional Talks with Saudi Arabia, Turkey and Egypt Amid Iran War Diplomacy
Ukraine and Saudi Arabia Reach ‘Mutually Beneficial’ Defence Agreement
Ukraine to Share Battlefield Expertise with Saudi Arabia Under New Defence Agreement
Trump Takes Center Stage at Saudi Arabia’s FII Miami Amid Escalating Iran Conflict
Gulf States Explore Pipeline Routes to Bypass Strait of Hormuz Amid Rising Tensions
Iran Conflict Drives Saudi Arabia to Deepen Security Ties with Ukraine
Saudi Arabia Reviews Desert Ski Resort Plans with Cancellation of Key Building Contracts
Saudi Arabia Targets Business Hotel Shortfall with $1 Billion Development Push
Iran and Allied Forces Intensify Strikes on Energy Sites and Urban Areas Across Region
Ukraine and Saudi Arabia Formalise Defence Cooperation Agreement, Zelenskiy Announces
×