Time Magazine columnist Amy Sullivan joins the chorus, asking: "Was an Anti-Abortion Bishop Too Vocal for the Vatican?"
In February 2009, I wrote about the cancer called "affinity fraud," where investors with the same religious affiliation, ethnic background or come from the same group get preyed upon by a crook, who takes their money based on a false sense of trust.
Now a $50 million scam targeted Mormoms.
“Affinity can be a powerful element,” says Mitchell Zuckoff, a professor of journalism at Boston University and author of “Ponzi’s Scheme: The True Story of a Financial Legend,” a 2005 book about Charles Ponzi’s 1920 fraud. “That’s what gets people to lower their inhibitions. There’s this attitude, ‘He’s like me. I can trust him.’ It’s almost hard- wired into our DNA.”
The bottomline is this: If a charity invested in Madoff's ponzi scheme, took money out of the Madoff Fund, those funds can be clawed back by the bankruptcy trustee for distribution to victims.
Irving Picard, the liquidator for Bernard Madoff’s investment business, said he might sue charities that took out more money than they invested with the imprisoned con man to force them to return the difference.
Picard, a lawyer with Baker & Hostetler LLP, declined to discuss specific nonprofit institutions. “We will look at charities on a case-by-case basis before determining what action may be appropriate,” he said.
Picard so far has pursued only charities that he claims should have known about the fraud. He sued longtime Madoff investor Jeffry Picower, a philanthropist and lawyer, and his charity in May for allegedly taking fake profit of $6.7 billion for himself and his affiliates over a 20-year period. His charity is now closed.
A pastoral statement, titled “Principles of Catholic Social Teaching and Health Care Reform,” issued by Archbishop Joseph F. Naumann of the Kansas City, Kansas, archdiocese, and Bishop Robert W. Finn of Kansas City-St. Joseph appear to wed Catholic articles of faith with current Republican Party articles of faith.
Quote of the Day:
t-- The Rev. Dariusz Wudarski of Immaculate Conception Catholic Church in Springfield, Mass., after being told that his parish will be closed as part of a downsizing plan. He was quoted by The Republican newspaper in Springfield.
As Congress returns to Washington, all eyes turn to the issue of health care reform. The month of raucous town meetings and showing up at events where the President is speaking with firearms did little to advance the debate. The media has begun to look at the lies of both left and right to discern where the truth can be found: Yes, there is abortion coverage in the current bills and no there are no death panels. What happens now?
Some Democrats, especially those from swing districts, may be convinced that too many people are worried about the effects of the changes for them to vote for the final bill. This is a mistake. Most Americans want reform, especially reforms that will put an end to the denial of coverage for pre-existing conditions. They also are worried, but remotely, about the escalating costs of health care. Some Americans, but not enough, and certainly not enough religiously motivated voters, worry about the uninsured.
With so much church fraud going on in the U.S. Catholic church, it's sometimes hard to keep track of the stories. Now we have two church employee fraud cases announced at the same time.
Starting in the Archdiocese of Denver:
Ruth Gonzales, most recently the Archidioceasan Housing construction director after a 21-year career with the diocese, is free on $10,000 bond.
In an interview with an investigator, Gonzales admitted to the scheme and said she had spent all the money she had taken."
Bob Tayek, spokesman for the Cleveland Catholic Diocese, said that Deacon Larry Cermak is no longer employed at St. Peter and Paul and St. Terese churches in Garfield Heights.
Citing Charles De Gaulle, influential conservative commentator, George Will, says it is time to get out of Afghanistan. Writes Will in a Washington Post column: "Genius, said de Gaulle, recalling Bismarck's decision to halt German forces short of Paris in 1870, sometimes consists of knowing when to stop." His column could open the doors to other conservatives (and others) in calling for creative ways to disenage from Afghanistan.