Did Bernie Madoff Bilk Mother Jones? (From the Editors)

Facts matter: Sign up for the free Mother Jones Daily newsletter. Support our nonprofit reporting. Subscribe to our print magazine.


Okay, here’s the good news: Unlike other nonprofits, Mother Jones did not invest its portfolio with ponzi master Bernie Madoff. But here’s the bad news: In recent weeks, we’ve heard from major donors saying that they’ve taken such a beating in the market, they have no choice but to pull funding they already promised to us—funding that was paying for our kick-ass reporters in Washington. This is not General Motors-size money we’re talking about—about $125,000 so far has evaporated—but for an organization our size, it is a big chunk, especially at a time when we’re already slashing the budget to deal with the broader financial crisis and the severe downturn in print advertising. Managers are taking pay cuts, we’ll be running somewhat smaller issues, we’re subletting office space, but at this point the only way to reduce expenses even further is to lay off reporters and cut back on investigating the powers that be. That’s the last thing we want to do: With Washington in transition and billions flying out the door, someone has to dig into where the bailout money is going.

This is where you come in. We’re not asking you to pay for private jets or chauffeured Town Cars; every penny of your donation goes to the overworked, underpaid investigative reporters whose work you see here every day. Anything helps, and it’s super easy—just follow this link. Think about it: Right now the Wall Street bailout has each and every one of us on the hook for $11,600 and counting. We’ll keep track of your money for a lot less than that.

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate