No, not by cutting Jeff Francoeur into pieces and selling him for scrap, but by virtue of a law winding its way through Congress that could allow them to hold on to $48 million that, under current law, they might have had to forfeit as a result of their connection to the Bernie Madoff Ponzi scheme.
The law — the details of which are are much better spelled-out in Dan Freed’s column at TheStreet.com — would prevent trustees cleaning up after Madoff-like scams from from collecting earlier investors’ “gains” and redistributing them to later, less lucky investors. Such a move is called a clawback, and this proposed law would limit the maneuver. The Wilpons actually came out of the Madoff scam with a bit more money in their account than they
started with — $48 million, actually. Under present law, they’d be subject to clawbacks. If the law passes, the Wilpons will likely be in the clear.
Which isn’t necessarily an injustice or anything. On a very basic level, the Wilpons were victims just like the other investors. That they happened to be in earlier than others and thus got the benefit of Madoff’s phony investment gains as opposed to getting the shaft is not their fault. And besides, just because they got more money back than they put in doesn’t mean that they weren’t losers too. Indeed, they thought they were doing way better than their $48 million gain they got and likely structured their lives and businesses accordingly. Because of this sort of thing clawbacks are controversial and problematic. I can’t really speak to the merits of this particular law (I’m a bit out of my depth here), but the beliefs that clawbacks often work to unwittingly unjust ends is pretty widely held.
But I do know this much: as things currently stand, the Wilpons, if they have a bit of business sense, have $48 million mentally socked away to be given up in clawbacks later. If the law passes, however, it will be theirs to spend once again.
Maybe — just maybe — they’ll spend it on the Mets.
Padres starter Jered Weaver lasted just two-thirds of an inning in Wednesday afternoon’s Cactus League appearance against the Royals. He yielded four runs on three hits, throwing 31 pitches before getting pulled. His spring ERA now sits at an ugly 10.13.
Weaver said he’s been dealing with a “dead arm” since his last bullpen session, but added he’s dealt with the issue in previous springs, Dennis Lin of the San Diego Union-Tribune reports.
The Padres signed Weaver to a one-year, $3 million contract last month. The right-hander is coming off of the worst season of his 11-year career. His fastball averaged a career-low 83 MPH and he put up a 5.06 ERA with a 103/51 K/BB ratio in 178 innings.
Earlier, Craig wrote about Dan Duquette’s dogwhistle language in his criticism of Blue Jays outfielder Jose Bautista. We have some more dogwhistling, this time coming from Tigers (and Team U.S.) second baseman Ian Kinsler. Via Billy Witz of The New York Times:
I hope kids watching the W.B.C. can watch the way we play the game and appreciate the way we play the game as opposed to the way Puerto Rico plays or the Dominican plays. That’s not taking anything away from them. That just wasn’t the way we were raised. They were raised differently and to show emotion and passion when you play. We do show emotion; we do show passion. But we just do it in a different way.
The goal of the World Baseball Classic, created by Major League Baseball, is to promote baseball across the globe. It’s players like Puerto Rico’s Javier Baez who are doing the best job in that regard, not boring white guys from the U.S. Potential baseball fans are not swayed into liking the sport when a player hits a home run and solemnly puts his head down to stroll the bases. They get excited and energized when players show emotion, flip their bats, celebrate. Baez did more to make baseball appeal to new and lapsed audiences with his premature celebration tag than the entire U.S. team has done this tournament.
Furthermore, it is hypocritical to want to diversify the sport’s audience while squelching incoming cultures.
Jim Leyland also got in on the action:
Go Puerto Rico.