Democrats hold on to Madoff money

Washington Times:

The Democratic Senatorial Campaign Committee, which received $100,000 in campaign contributions from disgraced financier Bernard Madoff, has yet to rid itself of the tainted funds that other Washington politicos have rushed to shed since the collapse of Mr. Madoff's $64 billion Ponzi scheme in December.

Mr. Madoff made four separate $25,000 donations to the DSCC since 2005. The most recent donation was made in September, according to campaign finance records. The committee received the lion's share of Madoff's political contributions during that period.

"We have not returned the money yet," DSCC communications director Eric Schultz told The Washington Times.

...

An analysis conducted by the Center for Responsive Politics found that Madoff and his wife, Ruth, gave the bulk of their campaign contributions to Democrats. The couple donated $238,200 to federal candidates, parties and committees since 1991, and Democrats received 88 percent of those donations.

...

Is it just me, or is holding on to money you know was stolen more wrong than holding on to a legal bonus from AIG? Democrat senators like Schumer are big on high dudgeon when it comes to AIG, but they are not so big on turning ill gotten money over to a receiver for the benefit of the victims of the worlds biggest fraud. In fairness to Schumer, he did donate the money he received directly from Madoff but has not returned that given to a committee he controled.

Comments

  1. BigTommy12:03 PM

    Shine the light, brother! Why is it necessary though? Shouldn't this be such an obvious thing to do?? Not only because it's *right*, but the political embarrassment is also so great that you would think it would be second nature to avoid it. Maybe it's another indication that the lobbyist/money culture in Washington (DC) has become so ingrained that it even makes you politically stupid.

    In fairness, too -- this problem is not limited to Democrats. The Republicans are equally culpable in this area, but they are just not favorites of the Madoffs, and so have few donations from them to divest.

    ReplyDelete

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