Saudi Press

Saudi Arabia and the world
Tuesday, Nov 11, 2025

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
Trump Unveils Middle East Reset: Syria Re-engaged, Saudi Ties Amplified
Saudi Arabia to Build Future Cities Designed with Tourists in Mind, Says Tourism Minister
Saudi Arabia Advances Regulated Stablecoin Plans with Global Crypto Exchange Support
Saudi Arabia Maintains Palestinian State Condition Ahead of Possible Israel Ties
Chinese Steel Exports Surge 41% to Saudi Arabia as Mills Pivot Amid Global Trade Curbs
Saudi Arabia’s Biban Forum 2025 Secures Over US$10 Billion in Deals Amid Global SME Drive
Saudi Arabia Sets Pre-Conditions for Israel Normalisation Ahead of Trump Visit
MrBeast’s ‘Beast Land’ Arrives in Riyadh as Part of Riyadh Season 2025
Cristiano Ronaldo Asserts Saudi Pro League Outperforms Ligue 1 Amid Scoring Feats
AI Researchers Claim Human-Level General Intelligence Is Already Here
Saudi Arabia Pauses Major Stretch of ‘The Line’ Megacity Amid Budget Re-Prioritisation
Saudi Arabia Launches Instant e-Visa Platform for Over 60 Countries
Dick Cheney, Former U.S. Vice President, Dies at 84
Saudi Crown Prince to Visit Trump at White House on November Eighteenth
Trump Predicts Saudi Arabia Will Normalise with Israel Ahead of 18 November Riyadh Visit
Entrepreneurial Momentum in Saudi Arabia Shines at Riyadh Forward 2025 Summit
Saudi Arabia to Host First-Ever International WrestleMania in 2027
Saudi Arabia to Host New ATP Masters Tournament from 2028
Trump Doubts Saudi Demand for Palestinian State Before Israel Normalisation
Viral ‘Sky Stadium’ for Saudi Arabia’s 2034 World Cup Debunked as AI-Generated
Deal Between Saudi Arabia and Israel ‘Virtually Impossible’ This Year, Kingdom Insider Says
Saudi Crown Prince to Visit Washington While Israel Recognition Remains Off-Table
Saudi Arabia Poised to Channel Billions into Syria’s Reconstruction as U.S. Sanctions Linger
Smotrich’s ‘Camels’ Remark Tests Saudi–Israel Normalisation Efforts
Saudi Arabia and Qatar Gain Structural Edge in Asian World Cup Qualification
Israeli Energy Minister Delays $35 Billion Gas Export Agreement with Egypt
Fincantieri and Saudi Arabia Agree to Build Advanced Maritime Ecosystem in Kingdom
Saudi Arabia’s HUMAIN Accelerates AI Ambitions Through Major Partnerships and Infrastructure Push
IOC and Saudi Arabia End Ambitious 12-Year Esports Games Partnership
CSL Seqirus Signs Saudi Arabia Pact to Provide Cell-Based Flu Vaccines and Build Local Production
Qualcomm and Saudi Arabia’s HUMAIN Team Up to Deploy 200 MW AI Infrastructure
Saudi Arabia’s Economy Expands Five Percent in Third Quarter Amid Oil Output Surge
China’s Vice President Han Zheng Meets Saudi Crown Prince as Trade Concerns Loom
Saudi Arabia Unveils Vision for First-Ever "Sky Stadium" Suspended Over Desert Floor
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
Ofcom Rules BBC’s Gaza Documentary ‘Materially Misleading’ Over Narrator’s Hamas Ties
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
Yachts, Private Jets, and a Picasso Painting: Exposed as 'One of the Largest Frauds in History'
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
EU Deploys New Biometric Entry/Exit System: What Non-EU Travelers Must Know
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
China’s lesson for the US: it takes more than chips to win the AI race
Israel and Hamas Agree to First Phase of Trump-Brokered Gaza Truce, Hostages to Be Freed
The Davos Set in Decline: Why the World Economic Forum’s Power Must Be Challenged
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Syria Holds First Elections Since Fall of Assad
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
×