Posted on 12/24/2008 5:46:08 PM PST by LdSentinal
New Jersey state Sen. Loretta Weinberg lost her entire life savings in the Madoff scheme.
While many of the losses of huge foundations and organizational endowments that have been making headlines over the past week are truly mind boggling, Weinberg was not ultra wealthy at all.
A lifelong civil servant, the veteran Democratic lawmaker was among a handful of Madoff victims to give their stories to The Wall Street Journal this weekend. Weinberg makes about $49,000 as an elected official in Trenton, where she represents the 37th District, which covers a highly Jewish region in the northern part of the state.
She had her savings, about $1.3 million, invested with Stanley Chais, another Madoff victim.
From the Journal story, which is subscription only:
"Irwin had a saying, 'If you made a dollar and a half, you put 75 cents into a savings account and you lived on the other 75 cents,' " says Ms. Weinberg, whose husband had his own business building and designing retail stores. "That's how we lived." Ms. Weinberg's family had investments with Stanley Chais, a Los Angeles money manager who ran what he called "the arbitrage partnerships," and Loretta and her husband also opened up accounts. "It's where my family had their money," she says. "We'd get reports every quarter." Year in and year out Mr. Chais delivered steady returns of 10% to 14% annually. "We had a family joke that every night we should all say a little prayer for Stanley Chais." She had never heard of Bernard Madoff -- until last week, when she learned that Mr. Chais had invested her money in Mr. Madoff's entities. Mr. Chais didn't return calls for comment.
for a typical NJ politician she was pretty naive.....
I agree. I am amazed at the comments here, and at Christmastime, no less. Anyone who has mocked or said vicious things about this unfortunate woman has no right to call himself a Christian. Disgusting. Many ordinary people had their life savings wiped out through no fault of their own. And this leads to jeers instead of sympathy. I imagine some of these heartless people go through the week thinking of themselves as followers of Christ. For shame. They haven’t the slightest clue what the gospel message means. A disgrace to conservatism, a diosgrace to the human race.
Or so Mr. Chais claims....
That's my family they are attacking with every tax increase, with every assault on the military, and with every attack on traditional American families and values. When bad things happen to them, I laugh. That's all they deserve from decent human beings. Screw this pig Loretta Weinberg and screw them all.
Merry Christmas!
LH
Wrong. Here is a woman who has run for public office on an EVIL agenda. She lost a great deal of her ability to promote that evil. That is a GOOD thing. Merry Christmas.
“You do have trouble with simple english don’t you? That carreer working in civil service, no doubt. I haven’t given those evil scum anything, Our Lord has. Life and a chance to repent, something we should embrace.”
I don’t want any part of your religion whatever it is, or your Lord, because it surely isn’t my concept of my Lord. My Lord wouldn’t let someone like you into my religion’s heaven, because your philosophy is too much based on hatred of the other.
I indeed have no trouble with simple English as I fully understand it when you say about half of the people in the U.S. who are Dems and/or Dem-like Independents, are all evil scum. That’s half of the population of our country, in your estimation, all of whom need to repent of their sins, which of course you define for them. Thank goodness YOU aren’t running our country. You would make Obama look almost good in comparison.
“That carreer working in civil service, no doubt.”
There you go again, as Ronald Reagan would say. Such snideness should not unwatched go. Every time I see your name Narses, I think of Narcissistic. Hmmmmmm.
I indeed have no trouble with simple English as I fully understand it when you say about half of the people in the U.S. who are Dems and/or Dem-like Independents, are all evil scum.Well clearly you do have trouble with simple english. Show me where I said "half of the people in the U.S. who are Dems and/or Dem-like Independents, are all evil scum."
While you are looking, do tell, did those years working in the academe cause you to embrace abortion as a civil right?
“Every time I see your name Narses, I think of Narcissistic. Hmmmmmm.”
Well we now know that your understanding of history is as deficient as your understanding of the common language. Sad. Very sad.
Where did this broad think that money was coming from-did she even bother to ask? Or did she just assume her broker was pulling a semi-legal fast one for his clients?
I more than damned sick of these life long public trough feeders and leaches as being referred to as "civil servants"....
“Well we now know that your understanding of history is as deficient as your understanding of the common language. Sad. Very sad.”
Would you care to elaborate on the above, as it appears to mean nothing and out of context? It would behoove you not to try to sound erudite when you are not.
I read this site and pray to God that this isn’t the best that conservatism or Christianity has to offer.
Jesus never wished misfortune on anyone. Not the Romans, or the Pharisees, or the gentiles. As he was nailed to the cross, he begged God to forgive the very people who put him up there. Wherever this spite and hatred comes from, it’s not Christianity.
Maybe these Dembo pols will start to understand why insisting on the utmost integrity in our institutions is important to secure to all our health, security, safety, and freedom.
ROTFLMAO! You are ahoot. Do tell, did those years working as a civil servant leave you as an abortion supporter?
“Jesus never wished misfortune on anyone.”
He did flog the moneychangers, He did tell us that those who abused the children were “better off never to have been born”. I suspect that He would far prefer poverty for people than that they live in the continual sin of material support of infanticide. Or do you see poverty as a bad thing?
Any Democrat who lost money because they were tricked into investing in right wing schemes will be reimbursed from the TARP fund. Fear not, Mighty Mouse is on his way!
“I more than damned sick of these life long public trough feeders and leaches as being referred to as “civil servants”....”
Are you talking about our Military? They are public servants, you know, they work for the federal gov’t, receive gov’t wages, get gov’t pensions, can retire after 20 years regardless of age, get all medical benefits, housing, discounted food prices, etc. Same with cops and firemen. Public servants, working for their state gov’ts. I guess they are all leaches and bottom feeders according to you.
Don't be sorry. I seek no sympathy. Demoncrats are EVIL.
“They are misguided and have a skewed view of politics and economics and morality, but to deem something evil is something that you never should do lightly.”
Their EVIL view of the world is not a matter of misunderstanding issues. I don't view calling Demoncrats EVIL lightly. It took a few years to work up to labeling them ALL EVIL. Every last one of them is EVIL. Obama was the icing on the cake - even partial birth abortion doesn't bother people. Their god is MONEY - ideally someone else’s money.
“You don't negotiate with evil.”
You're right on that. I do not negotiate with EVIL.
“You kill them.”
Huh? No, I don't murder Demoncrats.
“What if, say, there was the highly unlikely change of heart of Obama to support a balanced budget, a strong national defense, and limits on abortion and same-sex marriage?”
As you said this is VERY unlikely. You know as well as I this will not happen. Remember you cannot “negotiate” with evil. Liberals are EVIL. Liberals are not rational. You live in a fantasy world to believe you will get a Demoncrat to support a balanced budget, that would mean cuts on enslaving people ... a strong national defense would mean that terrorism is REAL, limits on abortion would spoil the fun of “choice” and being against same sex marriage is just not going to happen. Demoncrats live ina selfish, narcissistic world. They are greedy, insecure people little bullies.
“Would he then be evil because he were Democrat?”
You describe a fantasy. You do not describe a Demoncrat. I can't go along with your happy go lucky redefinition of Demoncrats.
“We work to convince our enemies and to defeat them at the polls. That suffices. “
LOL! If that was true, Obama would not have won.
Do yourself a favor, look at reality for what it is. Demoncrats are EVIL. They will not change. The few that might ... are not enough. It is clear where this country is headed and it isn't good. You cannot reason with liberals or the majority of Demoncrats. They are EMOTIONALLY DRIVEN. They do NOT THINK. They too live in a fantasy world and refuse to GROW UP!
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