Posted
5:19 PM
by Gene
HARDY HAR HAR:The arrest of New York money manager Bernard Madoff claims one of the most active supporters of criminal justice reform in the U.S.
The Manhattan-based JEHT Foundation (pronounced ‘Jet’) said yesterday that it stopped making grants and will close in January. In 2006 alone, it gave away $26.4 million, according to its most recent publicly available tax return.
“They are one of the best progressive foundations around,” said New York lawyer William Zabel, a partner with Schulte Roth & Zabel and a director of the foundation. “There are so many sad stories out there, but this is one of the worst.”TRANSLATION: A victory for con-SER-va-tives, despite the defeat for con-SER-va-tism.