Through his Social Security-like Ponzi scheme that paid older investors with incoming funds from newer investors, Madoff, a heavy donor to Democratic candidates, also did irreparable harm to the liberal and far-left causes he loves.
At least two major left-leaning charities are closing their doors as a direct consequence of the record-breaking fraud.
The giant Picower Foundation had the misfortune to choose Madoff to manage its more than $1 billion in assets.
The charity has given away more than $189 million since 1999.
A sizeable chunk of its funding has gone to abortion groups, including NARAL ($3.2 million), Center for Reproductive Rights ($2.5 million), Planned Parenthood ($2.4 million), and Center for Reproductive Law and Policy ($625,000).
As an aside:
Pro-lifers, if we want to advance our cause in Canada, we have to raise a comparable amount of money. It's time we had our foundations, too. Relying on small donations is not enough.
