The chairman of the board of the Jewish Federation of Greater Los Angeles Stanley Gold spoke to CNBC about the LA federation’s $6 million loss in the Madoff scandal.
“It is devastating,” the former Walt Disney board member and the CEO of Shamrock Holdings said of the broader effect on the philanthropic world.
But, he added, “In the Jewish community here in Los Angeles there is a recognition that a bad economy demands a good community.”
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CNBC is also reporting that a hedge fund manager Thierry de la Villehuchet, 65, the co-founder of Access International, slit his wrists after losing his firm’s money with Madoff.