New York Times: the Wilpons were warned that Madoff wasn’t a sound investment

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We may have actual legal documents from the case against the Wilpons as early as today, with both sides giving up all pretense of the conciliatory posture that occasioned the documents being sealed in the first place. The gloves are off and the bankruptcy trustee of the Madoff estate and the Wilpons are going at each other full-bore.

And the best thing about it for all of us is that each side has its own media operation: the New York Times is clearly getting passed information and spin from either the trustee himself or from someone sympathetic to his cause. The Daily News, in contrast, is clearly getting passed information and spin from either the Wilpons, their lawyers or from someone sympathetic to their cause. Unless you have a vested interest in the Mets or the Madoff debacle — and condolences to any of you who do — this is all great fun.

Today it’s the New York Times’ turn. Stung, it would seem, by being called lying extortionists by the Wilpons, Team Trustee provides the Times with some information that, if true, undercuts the Wilpons’ assertions that they were just as duped as anyone else by Bernie Madoff.

This comes in the form of a description of a lawsuit filed against the Wilpons last year by the widow of one of their former employees who lost a ton in their Madoff-invested 401K. In it she alleges that  multiple third parties — in one case the investment bank Merrill Lynch — made clear their concerns to Wilpon and his partner Saul Katz about investing with Madoff, yet they continued to invest with Madoff anyway, putting over 90% of the company’s 401K funs in Madoff securities.  The suit also alleges that Madoff had his own money invested with Wilpon’s company, thereby creating a conflict of interest on the part of the Wilpons when it came to deciding where the 401K money should go and how to invest it.

None of which is to say that the Wilpons were actively involved or even technically complicit in Madoff’s fraud. It’s merely to say that, unlike the other duped investors like Wayne Gretzky or Stephen Spielberg or whoever, the Wilpons were under totally different duties, subject to greater information and more closely-related to Madoff than anyone else who has been dragged into this case so far.  That’s what makes them different. That’s also what has them in the mess they’re in now.

I’m sure that the Daily News will counter this somehow. I’m sure a certain commenter who has been showing up in all the Wilpon threads will either echo those talking points or even have them before the Daily News does (uncanny, that!). Which is cool. All is fair in litigation and war. And, to be honest, I like the little back and forth we’ve been having in the comments section. Keeps everyone active and thinking.

But if the counter punch does come, it had better get a tad more refined. Because the more these allegations stack up — from disparate sources, not just the trustee — the less plausible the “Wilpon was totally blindsided by Madoff” line becomes.

And I’m not buying for a second that the Wilpons are in better shape now that settlement talks have broken down, which some are arguing. That’s simply ludicrous.  That is, unless you believe that having allegations splashed all over The Paper of Record that you screwed a widow out of her $300K retirement fund due to your negligence and conflict of interest to be a good thing. And unless you like your legal fees to shoot through the roof and your potential exposure to go from large-but-finite to “who the hell knows?”

Marcus Stroman named World Baseball Classic MVP

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United States starter Marcus Stroman was named Most Valuable Player of the World Baseball Classic after helping lead the U.S. to its first ever WBC title on Wednesday night in an 8-0 victory over Puerto Rico. Stroman flirted with a no-hitter through six innings, but gave up a double to lead off the seventh before being relieved by Sam Dyson.

Stroman also pitched 4 2/3 scoreless innings against the Dominican Republic in Pool C play on March 11. He struggled in Pool F play against Puerto Rico last Friday, surrendering four runs in 4 2/3 innings.

The WBC MVP award understandably goes to a player of the winning team. However, Wladimir Balentien of the Netherlands deserves special mention. In 26 at-bats during the WBC, he hit a double and had a WBC-high four home runs, 12 RBI, and 12 runs scored while putting up a .615/.677/.1.115 batting line. That’s MVP-esque as far as this tournament is concerned.

U.S. blanks Puerto Rico 8-0 to win first World Baseball Classic title

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The United States handed Puerto Rico its first loss in the World Baseball Classic, winning 8-0 for its first title in the fourth iteration of the tournament.

Puerto Rico starter Seth Lugo was matching Marcus Stroman zero-for-zero through the first two innings, but the U.S. broke out for a pair of runs when Ian Kinsler deposited a two-run home run just beyond the fence in left-center at Dodger Stadium. The U.S. tacked on two more in the fifth on RBI singles from Christian Yelich and Andrew McCutchen, pushing the lead to 4-0.

Meanwhile, Stroman was dealing. The right-hander, normally seen in a Blue Jays uniform, held Puerto Rico hitless through his first six innings, giving up just a lone walk. The U.S. put together a long rally in the top of the seventh, scoring three runs on three hits, two walks, and a hit batter. Stroman came back out for the seventh but immediately served up a double down the left field line to Angel Pagan. U.S. manager Jim Leyland immediately lifted Stroman from the game, bringing in Sam Dyson who escaped the inning without any further damage.

Pat Neshek allowed a leadoff single to Yadier Molina to begin the eighth, but induced a double-play, then worked around a two-out walk by striking out Kenny Vargas to end the frame.

In the ninth, David Robertson took over. He induced an infield pop-up from Enrique Hernandez. After Pagan singled up the middle, Francisco Lindor sharply grounded out to Eric Hosmer at first base for the second out. Finally, Robertson closed it out, inducing Carlos Correa to ground out to third base, making the U.S. 8-0 victors over Puerto Rico to win the World Baseball Classic.

Puerto Rico had an admirable run, defeating Venezuela, Mexico, and Italy to get out of Pool D undefeated. Then, in Pool F, it beat Venezuela again as well as the U.S. and the Dominican Republic to move to the semifinals. It narrowly edged Netherlands 4-3 in the semifinals to get into the finals.

The U.S. lost to the D.R. but beat Canada and Colombia to get out of Pool C. In Pool F, the U.S. lost to Puerto Rico and defeated the D.R again as well as Venezuela. The U.S. took down Japan in the semifinals to advance to the finals to play Puerto Rico.

The U.S. joins Japan (twice, 2006 and ’09) and the Dominican Republic (2013) as countries to win the World Baseball Classic. The 2017 tournament was a rousing success, setting attendance records, drawing over one million fans to ballparks to take in the games. It will hopefully encourage commissioner Rob Manfred and others to make a concerted effort to make the 2021 tournament bigger and better.