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America's unborn say "thank you" to Bernie Madoff

This morning, Drudge is linking a Crain's Business News report headlined: "Planned Parenthood Makes Staff Cuts"

"As with many other nonprofit organizations, Planned Parenthood has had to make staff reductions at our headquarters due to the challenging economic times facing our country," said Maryana Iskander, chief operating officer at the agency. "While taking this action is never easy, we want to ensure the millions of women and men who rely on Planned Parenthood as a health care provider that the reductions will not impact our ability to deliver care to those in need."

Part of Planned Parenthood's funding declines stem from the closing of the Florida-based Picower Foundation, which shut down in December because its assets were managed by Bernard Madoff. The $1 billion foundation was one of the few major funders of reproductive rights issues. (emphasis added)

"Women and men who rely on Planned Parenthood as a 'health care provider'"? Whatever. And what happened to all of Planned Parenthood's profits? Perhaps ol' Bernie "Madoff" with them as well?

On the other hand, if the current recession is to have at least one redeeming episode, perhaps this is it.


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Comments (21)

All large organizations wit... (Below threshold)
Imhotep:

All large organizations with any kind of endowment are going to face budget short falls; so what if Planned Parenthood does too....yawn.

Maybe I am just missing your point on how more babies is supposed to help the economy.

You know the economy sucks when Hospitals stop building/construction projects.....that hurts everybody.

When hospitals projects com... (Below threshold)
epador:

When hospitals projects compete with already existing health care in an area (in an attempt to monopolize local health care), stopping their construction is not always a bad thing.

Don't be silly. You know i... (Below threshold)
Imhotep:

Don't be silly. You know it is a bad thing when hospitals stop building; it is very similar to lice fleeing a body......it means things are dying. And when ALL hospitals in an area/city/region stop construction, that is a very ominous sign.

Health care will suffer and the patients are the ones who get hurt in the end.

My point is at this rate a Universal Health Care system will look very similar to aspirin being handed out in a tent.
You get what you pay for.

I'm sure Obama has a bailou... (Below threshold)
hermie:

I'm sure Obama has a bailout already earmarked for them. Oh that's right...he 'won't allow' earmarks, so they'll have to call it something else.

Michael- Abortions account ... (Below threshold)

Michael- Abortions account for only three percent of the services provided by Planned Parenthood. Other services include screening for breast cancer and cervical cancer, STD detection and treatment, and contraception.

But DN, surely if Planne... (Below threshold)
jim:

But DN, surely if Planned Parenthood opposes them, then that must mean that malignant tumors are as American as apple pie!

Pro-Life means PRO-LIFE ... especially when it's AMERICAN life ... so why is Planned Parenthood aborting helpless American tumors in their infancy, or even worse, using screening & therapy to prevent them from being born in the first place? It's all part of their Agenda Of Death!

By their own actions they make it plain - Planned Parenthood is obviously in league with bin Laden & Hamas in trying to stop the growth of good wholesome American cancers as part of their socialist "health-care" plot to aid terrorism! I bet their original charter is in Arabic, to boot - & I won't believe otherwise until I see the vault copy.

Why do you hate America, DN?

America would be so much be... (Below threshold)
TB:

America would be so much better off if there was a tax payer funded Planned Parenthood office in each school.

I'm all in favor of anythin... (Below threshold)

I'm all in favor of anything that makes abortions less common. It's such a terrible choice.

Abortions account for only ... (Below threshold)
Mark:

Abortions account for only three percent of the services provided by Planned Parenthood. Other services include screening for breast cancer and cervical cancer, STD detection and treatment, and contraception.

Does Jesus love morons like... (Below threshold)
kindness:

Does Jesus love morons like Michale Laprarie?

What part of Christian don't you understand Michael?

Nobody knew that putting th... (Below threshold)
Rance:

Nobody knew that putting the squeeze on Planned Parenthood was Bernie's plan from the start.

All the other foundations, museums, universities, and individuals were just collateral damage.

I'm personally not clear on... (Below threshold)
jim:

I'm personally not clear on the connection between Madoff and the recession, here.

It appears that Madoff is responsible for the blow to Planned Parenthood, and not the recession, wouldn't you say?

"When robbery is done in op... (Below threshold)

"When robbery is done in open daylight by sanction of the law, as it is done today, then any act of honor or restitution has to be hidden underground." - Ragnar Danneskjold (the pirate in Atlas Shrugged)

Perhaps we should take a closer look at exactly whose money was Madoff with...

In rural areas where Planne... (Below threshold)
Smapdi:

In rural areas where Planned Parenthood operates they are often the primary source for women's health services. Planned Parenthood saves the lives of thousands of rural women every year through cancer screenings that no one else will perform.

"Does Jesus love morons... (Below threshold)
Mike:

"Does Jesus love morons like Michale Laprarie?"

Of course He does. He loves you too, "kindness." Then again, He loves everybody.

...

"I'm personally not clear on the connection between Madoff and the recession, here."

The current recession is deeply tied to the 2008 bear market. The current bear market ruined Bernie Madoff by ending his ability to earn enough cash in market trades to keep his Ponzi scheme "investment" fund afloat.

Madoff managed the Picower Foundation's assets, which I assume were part of the massive amount of wealth liquidated by Madoff in order to keep his Ponzi scheme going. The Picower Foundation was the largest private source of Planned Parenthood. See the connection now?

...

"Abortions account for only three percent of the services provided by Planned Parenthood. Other services include screening for breast cancer and cervical cancer, STD detection and treatment, and contraception".

Here we go again with the tired "If you're anti-PP then you're pro-cancer and pro-STD's" argument. Sorry, but PP's own numbers don't add up.

According to the Guttmacher Institute, "In 2001, the average charge for a surgical abortion at 10 weeks' gestation was $468; but since most abortions in the United States are performed at low-cost clinics, women on average paid $372 for the procedure."

Let's be generous and assume that a lot of PP's clients use those handy money-saving coupons, placing the cost of an abortion at $400. For 2006-2007, PP performed a little more than 289,000 abortions, which multiplied by $400 comes up to roughly $115 million, or around 10% of PP's annual $1 billion revenue.

Planned Parenthood also claims that it performs around 10 million procedures annually on about 3 million clients. PP's 289,000 abortions would then account for about 10% of those 3 million clients, since it is unlikely (though not impossible ) that a reckless woman would have two or more abortions in a 12 month period.

So probably at least 10% of the women who enter a Planned Parenthood clinic came there to have an abortion. Charlotte Allen also notes that in the process of an abortion, numerous "procedures" are performed (pregnancy test, pelvic exam, blood work, STD screening, anesthesia, contraception counseling, etc.) so the "3% of procedures" ratio touted by PP with respect to abortion is again probably misleading. And we don't really know how many of those 10 million "procedures" involve RU-486, which -- though technically not "abortion" -- results in the termination of a pregnancy and the death of an unborn child.

Planned Parenthood's bread and butter has always been derived from the termination of pregnancies, using contraception as a tool to convince women that abortion is simply another form of birth control, and nothing more significant than a "choice." As far as I am concerned, providing other health services for poor women does little to atone for their status as one of America's leading merchants of death.

"Planned Parenthood's bread... (Below threshold)
sugarbiscuit:

"Planned Parenthood's bread and butter has always been derived from the termination of pregnancies, using contraception as a tool to convince women that abortion is simply another form of birth control, and nothing more significant than a 'choice.'"

Well, what else is abortion but a birth control option?

While albeit the most extreme option, abortion is the epitome of "birth control."

Oh, and stating that aborti... (Below threshold)
sugarbiscuit:

Oh, and stating that abortions have always been PP's "bread and butter," is wildly ridiculous considering that the organization has been in operation for about 90 years overall, therefore about 60 years prior to the legalization of abortion. PP has always been about providing education and healthcare to women who lack access for whatever reason.

What I don't understand about people like you is how you are able to be so angry about the existence of legalized abortions but want to destroy organizations that have done more to reduce unwanted pregnancies than anything in the history of humankind - namely through education and the provision of contraceptives.

Why not expend your energy and talents helping to reduce unwanted pregnancies rather than cheering a financial hit absorbed by one of the few organizations that exist to aid women in avoiding and disposing of unwanted children?

"Well, what else is abortio... (Below threshold)
LaMedusa:

"Well, what else is abortion but a birth control option?"

It's legalized murder. Need proof? Just google abortion under images. Disposal takes on a whole new meaning.

PP provides health care ser... (Below threshold)
ViktorYushenko:

PP provides health care services for both men and women, as well as physical exams for children. For a great many people, PP is the only alternative to the ER for medical care.

Comments like:"Pla... (Below threshold)
kindness:

Comments like:

"Planned Parenthood's bread and butter has always been derived from the termination of pregnancies, using contraception as a tool to convince women that abortion is simply another form of birth control, and nothing more significant than a 'choice.'"

would have more weight & impact if they weren't made following statistics released by Planned Parenthood showing that they spend less than 3% of their total budget on abortion services.

How can it be 'bread and butter' if it's less than 3% of the total?

Honestly I don't expect you to stop feeling & believing as you do, but I would hope that you would recognize and apply 'The First Rule of Holes' when you find yourself in one of your own making.

ie - when you see that you've dug yourself into a hole, stop digging.

"See the connection now?"</... (Below threshold)
jim:

"See the connection now?"

So you're saying that the dark cloud of the stock market crash leads to -> the dark cloud of the collapse of Bernie Madoff's ponzi scheme leads to -> the dark cloud of the collapse of a charitable foundation leads to -> the silver lining of Planned Parenthood having lost a lot of money?

Even if that was a good thing, the recession's not the root cause. As you point out yourself, the *stock crash* is the root cause, and the recession and Madoff's collapse are both resulting effects.




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