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.
Nationals’ outfielder Adam Eaton was carried off the field after stumbling over first base on Friday night. In the ninth inning of the Nationals’ 7-5 loss to the Mets, Eaton appeared to catch his ankle on the bag as he ran out an infield single, suffering a leg injury on the fall. He was unable to put pressure on his left leg after the play and required assistance by two of the Nationals’ athletic trainers as he exited the field.
Eaton is scheduled to undergo an MRI on Saturday, but Nationals’ manager Dusty Baker told reporters that it “doesn’t look too good.” It’s the first significant leg injury the outfielder has sustained since 2014, when he went on the 15-day disabled list with a hamstring strain. He’ll likely be replaced by Michael Taylor in center field for the next couple of games, though that could be a temporary fix as the Nationals seek a better solution during Eaton’s recovery process.
It’s been just over a week since Giants’ left-hander Madison Bumgarner got a serious scare after a nasty dirt bike accident. He escaped with bruised ribs and a Grade 2 strain of his left shoulder AC joint, but there was some speculation that the injuries would cause a significant, if not permanent, setback in the southpaw’s career. Thankfully, things aren’t looking quite so bleak today. Not only will Bumgarner not require surgery, but he could return as soon as the week following the All-Star break, the Giants said Friday.
Of course, that timeline is wholly dependent on how smoothly the recovery process goes, so nothing is set in stone yet. NBC Sports Bay Area’s Alex Pavlovic estimates 2-3 months of rest and rehab, including “two months before he can get back on the mound and then another three to four weeks of throwing and rehab starts before he’s big league-ready.” It’s a long and laborious schedule, but still looks much better than any surgical alternative.
Prior to the accident, Bumgarner was working on a solid start to the 2017 season. He maintained a 3.00 ERA, 1.3 BB/9 and 9.3 SO/9 through 27 innings with the club, though his average 1.75 runs of support per start fed into an 0-3 record.