Madoff Fallout

“Were any of your supporters invested with Madoff?”

I’ve lost track of how many times I’ve been asked that question in the last few months.

At first, I could answer: “not that I know of.” Then I received the following letter from a supporter:

“Some time ago …. I had put my pension from thirty years work into an investment that was indirectly hooked into the Madoff fraud. [A]ll of [my] savings were stolen in this scheme. We’re struggling now to re-build some reserve and retain our sense of equanimity.”

Blog Post Category: 

We've hit a brick wall

I spent the fall of 2007 in frenetic travel. I flew to the West Coast four times and attended more RFC events than I can recall. My goal was to build up as big a war chest as we could because I saw the storm clouds building on the horizon. In our Spring 2008 newsletter I wrote about a “perfect storm” brewing. That’s the way I described the Obama campaign coupled with the gathering recession, that together were sucking many dollars away from the RFC and other progressive organizations.

Surviving 2009 Together

I often assess the passing year as the new one approaches. I have mixed feelings about 2009. The start of the year, like the second half of 2008, was really scary at the RFC. The country was in financial melt-down, people were losing their jobs, and that had ominous implications for our fund raising prospects as the year progressed.