Daily News: MLB Puts Ponzi Linked Owner, who nearly lost his club

[weams]

Sure. It's fine to have a balanced discussion. You started off with a smear campaign. Morgan Chase invested with Madoff as well. You can speculate on whether Wilpon knew it was a Ponzi scheme. You don't know. Did he make 700M in interest over those 15 years?

I'm not sure. I would hope he was penalized and a treble amount from his gain. But maybe not.

[weams]

Sure. It's fine to have a balanced discussion. You started off with a smear campaign. Morgan Chase invested with Madoff as well. You can speculate on whether Wilpon knew it was a Ponzi scheme. You don't know. Did he make 700M in interest over those 15 years?

I accept your support of the Wilpon family. You have that right. They may be nice and blameless. I do not believe so. And I think their oversight of MLB finance is comical, if not criminal. Because the criminal charges were settled with the forfeiture.

[weams]

You sound like judge and jury. Are you sure he was a willing accomplice and not just a victim like so many others were? 700 million sounds like a pretty stiff penalty to me.

I think he would never have paid that amount were he not guilty. That is what I believe.

[weams]

I'm not sure. I would hope he was penalized and a treble amount from his gain. But maybe not.

If you invest for 15 years at over 10 percent returns, how big should the clawback and damages be when it turns out that it was always Ponzi?

[weams]

I don't support the Wilpon family. I support a balanced view on things. Some objectivity is always nice so when I saw your OP I decided to offer an alternate possibility.

I support that he was Ponzi linked. If you look at his history, it was twice. I'll let it go though. I am sure I am biased.

[weams]

Depends on whether you knew if was a Ponzi or not. If you didn't, you are a victim, no? If you did, then too bad. You assume they knew.

Ther returns over that period of time were indicative of many inquiries over the years. At best they turned blind eye.

[weams]

I support that he was Ponzi linked. If you look at his history, it was twice. I'll let it go though. I am sure I am biased.

http://hardballtalk.nbcsports.com/2011/01/31/the-wilpons-are-no-strangers-to-ponzi-schemes/

http://www.rollingstone.com/culture/lists/the-15-worst-owners-in-sports-20141125/the-wilpons-new-york-mets-20141125

I am saying this alone is reason not to put him in charge of MLB finances. I am sure you agree with that point.

[weams]

http://hardballtalk.nbcsports.com/2011/01/31/the-wilpons-are-no-strangers-to-ponzi-schemes/

http://www.rollingstone.com/culture/lists/the-15-worst-owners-in-sports-20141125/the-wilpons-new-york-mets-20141125

I am saying this alone is reason not to put him in charge of MLB finances. I am sure you agree with that point.

The Wilpons repeatedly structured deferred payments into player contracts and handed over the funds to fraudster and family friend Bernie Madoff to invest in the meantime, making money before the bills came due. Whoops. They also built the cavernous Citi Field at the tail end of a high-offense era, then were surprised to find that fans were pissed they didn't get to see any dingers. At the same time, Fred Wilpon is so enamored of old Ebbets Field – he played with Sandy Koufax in high school – that he designed Citi Field to celebrate Ebbets and was further surprised when Mets fans suggested he should think of having any Mets memorabilia there instead.

Thanks to wise investment, the Wilpons have lived on a shoestring budget for six years, taking profits from their ownership in SNY to make up team shortfalls and hoping that a tight budget and crossed fingers can arrest the team cratering that began in 2009. The Wilpons have seemingly never met a problem for which an absence of a solution will do, unless they have a solution worse than the problem, and that solution is invariably "them."

They always had financial shenanigans.

[weams]

I would say it certain invites some questions regarding the motives for the move. I would need to hear from guys smarter than you and I before being comfortable enough to have a strong opinion on it. The move should be questioned which is fine. No offense, although it is critical of you. I don't trust you to give me a balanced view on this sort of thing. You already have an agenda, it seems.

But he is Ponzi linked? With or without my motivations?

[OFFNY]

http://hardballtalk.nbcsports.com/2011/01/31/the-wilpons-are-no-strangers-to-ponzi-schemes/

http://www.rollingstone.com/culture/lists/the-15-worst-owners-in-sports-20141125/the-wilpons-new-york-mets-20141125

I am saying this alone is reason not to put him in charge of MLB finances. I am sure you agree with that point.

Daniel Duquette looks a little bit like Daniel Snyder:

OOO

[weams]

Financial shenanigans? Deferred contracts? Hmmm. The deferred contracts sound very familiar.

Bobby Bonilla. Like 30 years deferred. Hey, I would not put Angelos in charge of that aspect either. I'd pick DeWitt myself.

[weams]

No offense, although it is critical of you. I don't trust you to give me a balanced view on this sort of thing. You already have an agenda, it seems.

Sometimes, the stuff that very rich people do and get away with needs to be talked about. So that folks can form opinions. Even if I slant my presentation, my motives are pure.

[waroriole]

The Manfred regime seems to be crawling with impropriety. Remember he's also trying to force Beeston out in TOR.

[OFFNY]

Ponzi linked, to me, suggests something nefarious, like Madoff himself. If your grandma had been bilked by Madoff, would you refer to her as "Ponzi linked"?

In a twisted way, the Tates, the LaBiancas, the Folgers, etc. will always be linked with the Manson family.

I understand what you are saying, though.

[weams]

Ponzi linked, to me, suggests something nefarious, like Madoff himself. If your grandma had been bilked by Madoff would you refer to her as "Ponzi linked"?

Wilpon was involved in high finance for a living. And was involved in two separate Ponzi scandals. Grandmothers were never invited into Bernie Madoff's club. Unless the had a billion dollar net worth. And mine was lucky to have a few thousand dollars to her name. Bless her, she was a great woman.