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May 13, 2013

Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation

David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church

Emily Alpert: Recession dragged down birth rates for less-educated women
Morgan Housel: The deep downside of home ownership

Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer?

Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems

The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche

May 10, 2013

Rabbi Berel Wein: Be all that you should be

Caroline B. Glick: The dirty little secret about Israel's Arabs

Mona Charen: Hawking's Moral Calculus: The man and the movement he embraces
Morgan Housel: The biggest retirement myth ever told

Sandi Doughton: Eyes may provide new insight into brain problems

Jewz in the Newz by Nate Bloom : The Great Gatsby's Jewish Ties; Jews in the "Time 100 list" List; People's Most Beautiful Women

The Kosher Gourmet by Linda Gassenheimer: A sweet-hot meal: Pear salsa spices up salmon

May 8, 2013

Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas

Warren Richey: Obama administration quietly backs out of appeal over new contraceptive mandate

Fred Weir: At Kerry-Putin meeting, US-Russia relations thaw --- a tad
Amanda Paulson: Study reveals sad truths about community colleges

Harvard Health Letters: Evidence weak that zinc, echinacea are beneficial

The Kosher Gourmet by Leela Cyd Ross : Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility

May 6, 2013

Edmund Sanders and Patrick J. McDonnell: Think Israel's objective in Syria is to weaken Assad or embolden the rebels? Think again

Brian Bennett: Israeli airstrikes may show weakness in Syrian defense

Michael Ollove: Millions of ex-felons, parolees and those on probation are about to be entitled to tax-payer paid health coverage
Karen Kaplan: Most men can skip PSA test for prostate cancer, urologists say

Kimberly Lankford: How to track down a lost life insurance policy

Dream of Mars exploration achievable, experts say

The Kosher Gourmet by Susan M. Selasky: EGGPLANT WRAPS are an easy, sumptuous and scrumptious meal

May 3, 2013

Rabbi Nathan Lopes Cardozo: Human Courage and the Unavoidable, Disturbing Text

Steven Emerson: Attorney General Fights CAIR in Court, Lauds it in Public

Mediterranean diet helps beat dementia: study
Harvard Health Letters: When to be screened for a hearing problem

Jewz in the Newz by Nate Bloom : Iron Man's Jewish Connections; Marc Maron's New TV Show; Martin Landau Grows Up with Israel; Shalom, Allan Arbus

The Kosher Gourmet by Diane Rossen Worthington: A sweet surprise for Mother's Day dessert

May 1, 2013

Jonathan Rosenblum: An Improbable Journey to Orthodoxy

Jonathan Tobin: Blame Obama, Not Israel for Syria Push

Kids, kittens the Same? With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Halena M. Gazelka, M.D.: Mayo Clinic Medical Edge: What you need to know about implanted pain relief devices

Sandy Kleffman: Artificial kidney offers hope to patients tethered to a dialysis machine

Jessica Shugart: When it comes to math, MRIs may be better than IQs

The Kosher Gourmet by Mario Batali: The celebrated chef on how high-maintenance ASPARAGUS RISOTTO need not be

April 29, 2013

Roy Gutman: Poland's new Jewish museum celebrates life, doesn't revisit Holocaust

Mark Clayton: Terrorism in America: Is US missing a chance to learn from failed plots?

Kim Murphy: Boston Bomber's 'Svengali' Revealed
Morgan Housel: He's rich, smart and old: Listen to him

Thomas Salinas, D.D.S.: Mayo Clinic Medical Edge: The safety of amalgam fillings

Harvard Health Letters: Tomatoes and stroke protection

Pete Spotts: Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA

The Kosher Gourmet by Diane Rossen Worthington: Swing into spring with lemon cream pie

April 26, 2013

Rabbi Abraham J. Twerski: The world is a mirror

Caroline B. Glick: Time to confront Obama

Clifford D. May: Defense in the Age of Jihadist Terrorism
Kimberly Lankford: New strategies ease pain of paying for long-term care insurance

Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen?

Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty

Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver)

The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead

April 24, 2013

Steven Emerson: Boston Bomber Exposes Islamist Secret

Morgan Housel Admit it: No one has any idea what's going on
Harvard Health Letters: Can you get headaches from headache medication?

Kerri-Ann Jennings, M.S., R.D.: How to easily get more Omega-3s in your diet

Melissa Healy: Pot in a pill: All the pain relief without the smoke

The Kosher Gourmet by Susan Russo: Chipotle Chili Butternut Squash Soup is bold, zesty, hot

April 22, 2013

Ken Dilanian: Counterterrorism's future is unclear

US man departing country arrested on terror charges
Barbara Williams: An unorthodox but growing treatment in a 9-year-old's battle against cancer

P.J. Skerrett, M.D.: How to recognize a good whole grain product

Jewz in the Newz by Nate Bloom: Teen actor Jonah Bobo in New Flick: Hunky James Wolk on Mad Men; Erich Segal's Daughter Writes Prize-Winning Jewish Novel

The Kosher Gourmet by Diane Rossen Worthington: 'Noodles,' Asian style is a carb sub, sure. But they are also amazingly delicious and colorful

April 19, 2013

Rabbi Yonason Goldson: When violence seems the only answer

Caroline B. Glick: Why Obama's visit to Israel had no impact on public opinion or government policy

Morgan Housel: Gold collapse: The start of something big?
Harvard Health Letters: Can you die of a broken heart?

Pete Spotts: Livable super-Earths? Two candidates among Kepler's latest finds

Nora Schultz: Oxytocin helps beat booze cravings

The Kosher Gourmet by Carole Kotkin: Middle Eastern cuisine meets Italian delicious with this lentil and eggplant pastitsio

April 17, 2013

Shira Rubin: Too much of a good thing? 'Palestinians' realize downside of foreign aid boom

Geoffrey Mohan: Can computers decode dreams? Researchers take a first step

Morgan Housel: BAD NEWS: EVERYONE IS RIGHT!
Brierley Wright, M.S., R.D.: 6 heart-healthy eating tips help cut saturated fat but not taste

Michael Craig Miller, M.D.: Ask the Harvard Experts: Told your child has sensory processing disorder? Seek a second opinion

The Kosher Gourmet by Diane Rossen Worthington: Corn and Curry Add Zing to Chilled Soup

April 15, 2013

Rabbi Yonason Goldson: The Death of Education?

Kristen Chick: Egyptian Christians respond with harsh words to attack -- rocks, Molotov cocktails, and gunfire -- against main cathedral

Marcy Darnovsky and Karuna Jaggar: High Court to decide if you should own your DNA
Howard LaFranchi: US bracing for more Russian blowback after taking action against 18 more human rights violators

Kristin Ohlson : The loneliest fight

The Kosher Gourmet by Dana Velden: A tasty, rich dish that hints at spring's arrival while still anchored in a favorite winter staple


Jewish World Review Dec. 19, 2008 / 22 Kislev 5769

Restoring trust

By Linda Chavez


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http://www.JewishWorldReview.com | The shocking story of Bernard Madoff and his alleged $50 billion Ponzi scheme have implications that go well beyond the wealthy individuals and charities who were bilked of their money. As in all such scandals, this one involves a betrayal of trust. And trust ultimately is what allows economies, large and small, to function. Without it, our entire system of money would collapse.


What Madoff is alleged to have done is to create an upside-down pyramid in which he paid his investors phony "profits" from new investors' capital, while skimming off most of the money for himself. The scheme works only so long as new investors can be found to continue making payments to earlier investors, or until someone discovers the chicanery. In Madoff's case, his own children blew the whistle when they realized what he was doing.


Still, you wonder: How could so many savvy people be duped by the oldest trick in the book? Madoff's investors weren't naifs. They were some of the most astute investors around, including other billionaires who had made their own money largely by being meticulously careful in how they chose to invest. But they trusted Madoff because many of them knew him personally.


Madoff was no fly-by-night snake oil salesman. He lived and worked in the community. He was involved in the same charities as his investors. He was a co-religionist who, his investors believed, shared the same values and commitment to a strong code of ethics that would insure against deception and thievery. And so, investors handed over millions of dollars to a man they thought they knew and could trust, without doing due diligence.


"What fools," you say? "I'd never hand over my money without checking the guy out." But in fact, we do hand over our money, figuratively and literally, every day without hesitating. And we do so because we trust individuals, institutions, and our government. Trust is what makes the economic world go round.


In an important new book, "The Ascent of Money: A Financial History of the World," Niall Ferguson explains it this way: "When an American exchanges his goods or his labor for a fistful of dollars, he is essentially trusting (Treasury secretary) Hank Paulson (and by implication the Chairman of the Federal Reserve System, Ben Bernanke) not to … manufacture so many of these things that they end up being worth no more than the paper they are printed on. … (M)oney is a matter of belief, even faith: belief in the person paying us; belief in the person issuing the money he uses or the institution that honors his checks or transfers. Money is ... trust inscribed."


And once trust breaks down, the system itself collapses. What is worrisome in today's troubled economy is that trust seems to be dissolving before our eyes. Why have banks stopped lending? Why are people pulling their money out of the stock market, driving down the Dow and NASDAQ? Why are people afraid to buy houses?


It all boils down to trust. Banks don't trust that debtors — companies, individuals, even other banks — will pay back the money they lend, so they stop lending. Investors don't trust that companies will be able to earn profits in the near future, so they stop investing. Ordinary people don't trust that the home they buy will be worth what they paid for it in a year or even a few months, so they hesitate buying.


This breakdown in trust feeds on itself. Distrust becomes self-perpetuating and contagious.


The challenge will be how best to restore trust — and to do so in ways that do not jeopardize freedom or the efficiencies of the market. As Ferguson's book illustrates, larcenies like the Madoff scheme or stock and real estate bubbles like the ones we've experienced over the last decade are nothing new and will, no doubt, occur again. But if we are to live and prosper in communities that extend beyond our immediate family members we must fall back on mutual trust, even when it sometimes fails us.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.


JWR contributor Linda Chavez is President of the Center for Equal Opportunity. Her latest book is "Betrayal: How Union Bosses Shake Down Their Members and Corrupt American Politics". (Click HERE to purchase. Sales help fund JWR.)

Linda Chavez Archives


© 2006, Creators Syndicate

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