A few weeks ago on September 15, 2008, the largest bankruptcy in U.S. history took place when the prestigious Lehman Brothers Investment Firm filed for Chapter 11. After 158 years, the great firm that was founded by a German-Jewish immigrant Mayer Lehman and his sons came to a sudden end.
That's what you read in the news. However, I bet you they didn't report this story.
Every Sunday without fail, Mayer Lehman would take his three youngest children (he had seven) – Arthur, Irving and Herbert – through the wards of Mount Sinai Hospital to see for themselves both the fruits and the challenges of Jewish philanthropy a
nd to develop the rich tradition of Tzedaka.
As adults, Arthur became the family banker, Irving, a judge, and Herbert, governor of the State of New York and US Senator. All three of those boys also became major philanthropists – Arthur as a co-founder of the Federation of Jewish Philanthropies and the Museum of the City of New York, Herbert a supporter of Lillian Wald’s Henry Street Settlement House and a founder of the Joint Distribution Committee, and Irving, a longtime president of the 92nd Street Y. The eldest son Sigmund was a founder of Montefiore Hospital. This part of the Lehman Brothers Portifolio is still reaping huge dividends.
So you want good investment advice? - Invest in a Mitzvah. Even in the darkest recession you'll be a winner for all eternity.
A blessed Yom Kippur and a sweet year to you and yours. Thank you to all those that read our blog. I look forward to your comments.