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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?”

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.