i can certainly understand the frustration of the many people and charities that were not only duped by Madoff but perhaps duped as well by the Shapiro's and Jaffe's, Jaffe after all apparently was paid by Madoff a situation apparently established by his father-in-law Shapiro. While the Shapiro's and Jaffe's go all out this weekend for a blow-out party for 250 of their closest friends, perhaps they should think about the neediest of victims here and make the grand overture of giving what they have left to those charities rather than spend their waning years living the highlife. While perhaps not criminally responsible, for this tragedy-although the jury is still out, theses people brought Madoff to Palm Beach, and many of those who invested perhaps were invested based upon the bond of trust they had with Shapiro and Jaffe. Carl-Robert do the right thing here- dig in and give what you have left to the charities....

I could quite literally not care less about the travails of people who have been overpaid for far too long. This is hardly the time to be sponsoring so called writers on "society." What a complete waste of time.

Many of us hope that these wildly wealthy people will fully support the regulatory reform necessary so that situations like this will be a thing of the past. Much of the rest of America has lost 40% of their savings, too. That's the real tragedy in this country today. So what if these folks have to stop shopping at Chanel...get in line at Macy's or Wal-Mart with the rest of us. Welcome to the real world...

well kluivertus... you are entitled to your opinion. i have no idea who or what concerns you other than you feel entitled to condemn... what is not a waste of time is Ms. Tapert's observations of those who have truly invested and sustained not just art, but also hunger relief, hurricane relief, jobs throughout the palm beach county community and various small contributions that resolve many small surrounding community fiscal shortfalls. perhaps some these folks have been overpaid... however; many more have pulled themselves up by their bootstraps and endowed their good fortune onto those without. that's just the truth...from a gentile opinion, true, once well heeled and now the 'poor folk' of the family, i do consider philanthropy vital to any community. owning my own cottage company which is suffering lack of wholesale orders this season has left me with a great night job...coach to the carriage trade (read: cabbie - what a hoot!) right here in wpb and the island. Ms. Tapert's report is significant to many off islanders because they recognize the vitality palm beach society invests into their communities, like I do. you don't throw the baby out with the bathwater. you are condemning reports of the fiscal disaster which will affect us all in the short run. art counts. charity counts. it isn't just the wealthy who give to it... how do you pass by the bell as it rings next to the pot during Christmas time? I am the family screaming liberal.. and even I understand better.... kudo's for keeping us informed Ms. Tapert... and next time you need a ride home at night...look for a Red Lion! :-)

good article, but what the heck is an "apparel magnet"? lolol

I've a feeling that the woman who said, "We're just going to learn to live with less," was either heavily medicated or still in shock.

I find these articles by palm beach socialites "touched" by the madoff scandal bizarre. They live in such a boring superficial world and are so completely out of touch with middle class people much less lower income folks. It's hilarious to hear the author talk about rumours that chanel and armani might have to close. The horror! While it's true that fancy charity balls- whether they are in Ny or Palm Beach or wherever, raise money for charity, they cost huge amounts to put on and the rich folks that attend spend huge amounts on clothes etc etc. They want to throw a lavish party, feel righteous and get a tax deduction and be able to see and be seen.

There is something unseemly about The Daily Beast's obsession with the belt tightening that the rich are suffering. There are millions, if not billions of people who would be overjoyed to have these kinds of problems. These articles are so out of touch that I think I'll banish TDB to the dustbin for a while.

Knowing some very very rich folks weren't paying attention and subsequently lost millions? That probably happens a lot but we don't hear about it. What's really troubling is that one of their own betrayed them. We have faith in great wealth, don't we? What do we do now . . . rent Mad Max for survival tips?

Annette wrote this post with grace, good humor and insight.

I am wondering why we are not more aggressively questioning how the government did not catch Madoff & Co. before Madoff turned himself in.

His is . . .so it seems to me . . . a suspicious exit strategy.

However that may be . . . say you're a SEC employee, charged with looking over the Madoff books. Unprecedented unrelenting returns over a long period. If you have a brain in your head, aren't you going to want to figure out how Madoff & Co. are doing it, so you can either 1) do it yourself or 2) call in the F.B.I.?

SEC employees were either 1) incompetent or 2) corrupt vis-a-vis Madoff & Co.

Which was it?

Again, thanks Annette for a charming post.

Bob "Fredo" Jaffe

Bob "Chief Wiggum" Jaffe

Bob "Lee Harvey" Jaffe

I think any of these would be appropriate from now on.

Annette:

I have some questions regarding this article.

1) You referred to "Jewish philanthropy." What exactly did you mean by that? Is it Jews giving for Jewish causes? Or is it just Jews giving? When you write about other cities where non-Jews happen to be philanthropic, do you refer to Christian philanthropy, or white philanthropy, or African-American philanthropy, or Italian-American philanthropy etc.? (We know that "Jewish" refers not just to religious but also to ethnic and cultural identity.)

2) Since you mention that the philanthropy in this city is mostly "Jewish," how come you left out the ethno-culturo-religious identity of the greed in this city?

3) Continuing on with point 2 above, how come you left out the ethno-culturo-religious identity of brother Madoff himself. He was a member of a Jews only club in NYC. He sat on the board of various Jewish cultural and educational organizations. I'm yet to read anywhere of his religious affiliation. Why the silence?

4) Finally, the following sentence:

"But it turned out to be a false rumor, apparently circulated by another caddie at a predominantly Gentile club. Perhaps he was dropping a hint."

What was this hint? Could you please clarify?

Thanks.

Frankly, many of us lowly proles wished we had your misfortunes. Having to sell the condo in Palm Beach? Get rid of the yacht? How sad.

You'll adjust to living without that 9 figure bank account.Trust me.

I dont think these 'victims' of this scandal are looking for your sympathy and the truly wealthy will survive. But their generosity has impacted your lives in ways you cant even imagine.
Next time you enter a hospital, look at the names over the doors.
If you know a child with leukemia, autism,diabetes, CP,MD or any number of life threatening illnesses, look at the foundations that support medical research seeking to find cures.
Do you know of an elderly person who is confined to their home and cant afford to feed themselves? Look at the supporters behind meals on wheels.
Have a relative with alzheimers who needs a safe place to live out their lives? Look at the plaques on the door to see whos money keeps the doors open?
Need tuition assistance for college? Look at the list of donors to schools nationwide?
Abused woman and children? Bone marrow transplant directory? Breast cancer?
The people in this story are by and large self made. Yes they live well but they also give away billions of dollars. In order to join the jewish palm beach country club, a member had to commit to philanthropy. These men and woman have earned our respect not our derision.
They may have to find a way to live without their 9 figure bank account but can you survive when your local hospital, research facility or school closes?