Monday, February 27, 2012

An Amish Response To Scandal

NYT:
As in the Madoff case, Mr. Beachy’s seemingly successful investment firm employed several members of his family. He, too, first attracted clients who shared his religious faith. And he, too, was accused of defrauding charities, congregations, even his own relatives. Predictably, headlines have branded Mr. Beachy “the Amish Bernie Madoff,” although he is presumed innocent as he heads to trial next month.
But the most intriguing aspect of Monroe Beachy’s story is how different it seems from Bernie Madoff’s — and from almost every other story with a “Ponzi scheme” headline over the years.
While victims of Mr. Madoff’s fraud, like most Ponzi victims, condemned their accused betrayer in court as a monster, many of Mr. Beachy’s investors have said in court that it is more important to forgive him than to recover their money.
While the Madoff case and others like it have inevitably created conflict between longtime investors fighting to keep their fictional profits and more recent investors trying to recover lost principal, some Beachy investors urged that their own share of his estate should be given to those in greater need.
While some of the issues Amish folks deal with involving compromises with modernity seem crazy to outsiders, we have to note the way the Amish deal with crime.  They practice what they preach.  How many of us can say the same thing?

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