Democrat committe gives Madoff money to trustee

NY Times, Caucus Blog:

The Democratic Senatorial Campaign Committee has given $100,000 in contributions from Bernard L. Madoff to victims of the disgraced financier’s Ponzi scheme, a spokesman said Thursday.

Eric Schultz, the committee’s communications director, said it gave the money to Irving Picard, a trustee appointed to liquidate Mr. Madoff’s assets and process claims from Mr. Madoff’s victims. He did not specify when the committee returned the money.

This is a smart move. It would have been smarter if they had done it sooner. Some of the others who received contributions from Madoff gave equivalent amounts to charities, but returning the money to the trustee for victims is the more appropriate response. Politicians who received donations in the Stanford scandal should also return the money to those trying to marshall the remaining assets for disposal to victims.


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