TPM Editors Blog

Very Prescient

A lot of rich people have taken a bath courtesy of Bernie Madoff's scam. And a long list of Jewish foundations and charities have been devastated because so many of them put their foundations' endowment money in his hands for safe-keeping.

But it turns out that when it came to their own foundations, his sons knew not to have their dad manage the money.

They invested their foundations' assets with a subsidiary of Lehman Brothers.

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