Friday, December 26, 2008

In April of last year after the VT killing by a deranged Korean student, I wrote that Asians were afraid that they would be stigmatized by the ethnicity of the killer. I wrote that Asians had nothing to be ashamed of since the killer is the only person responsible for the tragedy, his ethnicity has nothing to do with it. Now the newspapers are saying that the Jewish community is worried that they will be stigmatized by the Madoff Ponzi scheme. Again I say this is an act by a deranged person who abused the people who trusted him. His religion or ethnicity had nothing to do with it.

The newspapers are saying that blogs are written about Jews being cheaters or that they are greedy and so they lost money. Well, there will always be racists who say such thing. But I am confident that the majority of Americans are fair-minded and that like the VT tragedy, no group of people will become stigmatized as a result of this. The truth is Wall Street is full of people of any race or ethnicity who are willing to cheat. The SEC is totally incompetent in regulating and thus help lead to the current financial crisis. As for the victims, most of the lost money belonged to charity foundations so most of the victims were not greedy people. Paraphrasing an old Chinese saying: people tend to cheat those who are familiar to them. This is a classical case of Madoff using his familiar status among other Jewish people to take advantage of them. Shame on him and the SEC.

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