Thanking Mr. Madoff
As the world focuses on the misdeeds of Bernard Madoff, who pleaded guilty Thursday to operating a multibillion-dollar Ponzi scheme, at least one person — granted, not one of his defrauded investors — is singing his praises. Writing on The Big Money, Chadwick Matlin has gone so far as to pen an open letter of appreciation to Madoff.
What has the disgraced businessman done to warrant such a gracious gesture? Well, according to Matlin, Madoff:
• Forced the government to acknowledge “just how crappy the SEC is at doing its job.”
• Giving Americans a villian — a wealthy, white, Jewish villain who defrauded Holocaust survivors, at that — at whom they could direct their anger about the economy’s nosedive.
• Inspired the creation of a whistleblower’s office at the Financial Industry Regulatory Authority to keep track of and investigate fraud-related tips.
Matlin concludes: “Without you Bernie, we would have stewed in our internal anger. And we would have had nobody to catalyze change for the future. Know that while you spend the rest of your life in jail, I’ll be thinking of these noble contributions. And I’ll be thankful.”
A message from our CEO & publisher Rachel Fishman Feddersen
I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.
At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse..
Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.
— Rachel Fishman Feddersen, Publisher and CEO
