Tuesday, March 6, 2012

Mets and Madoff ....Was it All Worth it ?

Lets put it this way...The last several years for the Mets, financially and performance- wise have been painful. Attendance down. No money to spend on free agents or to keep em. " Madoff " haunting the Mets' brass every step of the way. I almost feel sorry for the team.
Now , a bad ruling from Judge Rakoff of Federal District Court which effectively rules that the Met owners " were "net winners " from their Madoff investments could force them to "pay back " up to $83 million in fictitious profits . Wilpon and Company will also have a jury decide in a trial set to begin on March 19th whether they are liable for damages of up to $300 million for "willful blindness" . Willful blindness means "that one purposely turned away from learning something because there was a high probability that you would learn something bad that would render improper what you were doing ". Of high significance is the fact that Judge Rakoff has expressed real skepticism about the prospects of the Trustee and his legal team proving this at trial. We shall see !
So with all this looming and Wilpon's empire potentially dwindling from post-Madoff seismic waves, the $64,000 question must be asked , "was getting in bed with the devil himself really worth it " ?
I gather that question will be answered after the upcoming trial is concluded. Your thoughts?

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