Madoff burned suburban N.Y. Carpenters Union too

US Politics
on 8 Comments

I know that most of you are concerned with Madoff's effect on the great battle against assimilation. Well I'm friends of contractors, and I'm told that Local 11 of the Carpenters Union, which is based in Westchester but represents carpenters all over the Hudson Valley, has been struck by Madoff. Lately the union sent out a letter to members saying that their pension fund was invested in Madoff stuff. The damage is not yet known, but these guys typically draw $1100 to $1600  a month in pensions. I wonder, when the flesh is picked from Madoff's ribs, if there will be any consideration of those who need the money most and those who don't?

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8 Responses

  1. syvanen
    January 5, 2009, 3:27 am

    This could be politically significant. The NY area trade union members became an important factor in the Reagan Democrats. They became disenchanted with the left during the Viet Nam war. I remember the construction workers coming out and fighting the antiwar demonstrators. This was about the same time as the NY area neocons began their big turn to the right. Somehow the name Shanker and the teachers union comes to mind. Is it possible that these poor duped carpenters entered into an alliance with these neocons who then led them into the clutches of one of the biggest swindlers of the ages? My, my, there could be some really pissed off construction workers. Who will they blame now? Not the DFH I am sure.

  2. Paul Malfara
    January 5, 2009, 5:31 am

    Bernie Madoff,

    You have been found guilty and are hereby sentenced to 24 hours behind locked doors with representatives of Local 11 of the Carpenter's Union, their chisels, rasps, pry bars, circular saws, claw hammers, hand riveters, hot glue guns, drilling and grinding tools.

    Ah, justice at last!!

    PM

  3. Richard Witty
    January 5, 2009, 7:38 am

    I'm SURE that the overall decline in the market exerted a FAR GREATER impact on the pension funds' valuation than from Madoff's funds.

  4. Richard Witty
    January 5, 2009, 7:38 am

    Is this what you regard as deserving anger?

    And I'm called an "ostrich"?

  5. Phil Weiss
    January 5, 2009, 10:33 am

    Richard, that may be, but why are you standing up for Madoff? This is simply a news item. Should we pretend that Madoff doesn't exist because he isn't good for the Jews?
    Phil

  6. anon
    January 5, 2009, 1:02 pm

    Witty, you really are a nasty ostrich, as if Madoff's conduct and attitude were not a part and parcel of of the root reasons for the overall market decline, and as if he was one of the biggest individual players under his own name.

  7. anon
    January 5, 2009, 1:04 pm

    I mean, "as if he was not one of the biggest individual players (if not the biggest) under his own name."

  8. Paul Malfara
    January 5, 2009, 10:49 pm

    Phil,

    Yes, according to Richard Witty's thinking, you should pretend that Madoff doesn't exist because he isn't good for Jews. If you find that impossible, you should then focus ONLY on the Jewish victims of his swindle.

    PM

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