Madoff swindle hits Jewish charities

Los Angeles Times:

Wall Street financier Bernard L. Madoff's alleged $50-billion Ponzi scheme appears to have extended deeply into Southern California's Jewish community, with millions of dollars in losses tallied Monday by charitable organizations, Hollywood executive Jeffrey Katzenberg and a foundation bankrolled by director Steven Spielberg.
The Jewish Federation of Greater Los Angeles and the Jewish Community Foundation of Los Angeles were on a growing list of victims emerging in the wake of Madoff's arrest in New York.

This will have severe consequences. Megan McArdle tries to explain how Madoff got away with it.

UPDATE: Jennifer Rubin calls Madoff "the Ken Lay of Democrats."