Fred Wilpon

The Wilpons are no strangers to Ponzi schemes

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Alison Cowan of the New York Times reports that the Bernie Madoff affair was not the first time the Wilpons have had to pay back money as a result of getting in early on a Ponzi scheme:

But for the owners, Fred Wilpon and Saul Katz, it is not the first time they have had their names and personal fortunes roughed up in a Ponzi scheme. An investment firm started by the two men had to pay back nearly $13 million two years ago when a hedge fund run by the scion of a wealthy New Orleans family collapsed in what was then regarded as one of Wall Street’s more brazen frauds.

I spent two years of my professional life defending a guy convicted of running a $50 million fraud, and part of that involved a number of mini-ponzi schemes and other assorted activities.  One thing I learned is that a great number of the victims of such schemes are people who really like the idea of getting rich quick and who, either out of simple negligence or out of willful blindness, are eager to give their money to someone who promises quick and/or outsized returns on investment. Yes, some people are truly innocent victims, with the fraudsters creating elaborate schemes which withstand a reasonable amount of due diligence by the investor. But often times people are willing to skimp on the diligence because they are so dazzled by the prospect of boffo returns.

I have no idea where the Wilpons fall in all of this.  But I do know that it’s not often that investors get burned by not just one, but two ponzi schemes. Especially allegedly sophisticated investors like the Wilpons.

Warren G just gave the worst performance of “Take me out the ballgame” ever

Warren G performs at the Warren G NYC Takeover album release party at the Highline Ballroom on Sunday, Aug. 9, 2015, in New York. (Photo by Andy Kropa/Invision/AP)
Associated Press
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It was just over 22 years ago that “Regulate” was released. Amazing track. One of the best. At least according to me and all of the other 40-something white dudes who liked to act cooler than we really were in the 90s, which is all of us.

A lot has happened since then. Nate Dogg died (RIP). Other major figures of west coast hip hop turned into moguls or family friendly movie stars. Everyone’s older. But part of me wonders if any of them are still on the cutting edge in some way or another, either as performers or artists or just as a matter of their own personal stance. Sometimes I wonder if any of them, like so many other artists who came before them, can have a career renaissance in their 40s and 50s.

Maybe. But not Warren G. Man, seriously not Warren G.

 

Here’s to better times:

The Diamondbacks read mean tweets about their new uniforms

Arizona Diamondbacks starting pitcher Shelby Miller throws in the first inning against the San Diego Padres in a baseball game Saturday, April 16, 2016, in San Diego. Miller left the game in the second inning after he injured his throwing hand when his follow through hit the mound. (AP Photo/Lenny Ignelzi)
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I’m on record as not being a big fan of the Diamondbacks’ many, many new uniforms. Not my cup of tea in either color or style, to be honest. I’ve even tweeted some negative things about them.

Thankfully, however, the Dbacks social media folks either didn’t see my tweets or didn’t take too much issue with them. They did with many other people’s, however, including some baseball writers I know. And then they read them and riffed on ’em.

Glad everyone has a sense of humor here.

MRI reveals minor right ankle sprain for Cubs’ Kris Bryant

Chicago Cubs' Kris Bryant warms up before Game 3 of the National League baseball championship series against the New York Mets Tuesday, Oct. 20, 2015, in Chicago. (AP Photo/Charles Rex Arbogast)
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CHICAGO (AP) An MRI has confirmed that Kris Bryant of the Chicago Cubs has a minor right ankle sprain.

The 2015 NL Rookie of the Year wasn’t in the lineup Friday against the Atlanta Braves, but manager Joe Maddon said he might be available off the bench late in the game.

Bryant was injured running the bases in the third inning Thursday of Chicago’s 7-2 victory over the Milwaukee Brewers. He was replaced in left field two innings later.

The Cubs avoided putting another starter on the disabled list. Catcher Miguel Montero was placed on the 15-day DL on Thursday with a sore back. Chicago lost slugger Kyle Schwarber for the season when he tore two knee ligaments three weeks ago in Arizona.

Yasiel Puig welcomes Jared Goff to Los Angeles

Los Angeles Dodgers' Yasiel Puig smiles as he warms up throwing the baseball during a spring training baseball workout Friday, Feb. 26, 2016, in Glendale, Ariz. (AP Photo/Ross D. Franklin)
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Jared Goff, the University of California Quarterback, was selected by the Los Angeles Rams as the first overall pick of last night’s draft. Not a bad thing to happen, to the man. He’s going to be rich! He’s going to be even more famous! He’s going to be the face of the NFL’s move back into the nation’s second largest city!

The only problem is that he’s not always been a fan of all things Los Angeles. For example, three years ago he took issue with Yasiel Puig for reasons that I’m guessing everyone has forgotten:

But no worries. Puig has both forgotten and forgiven. He even sent out a warm welcome to the new Angelino this afternoon:

#PuigYourFriend has to the best hashtag in the history of Twitter.