Madoff trustee throws some new stuff at Wilpon and Katz

8 Comments

Both the New York Times and the Post today run with the latest filing in the Bernie Madoff/Wilpon/Mets case. The allegation: in 2001 Wilpon and Katz went shopping for “fraud insurance,” and that by doing so it shows that they had reason to believe that Madoff was, in fact, a fraud, it says.

For those who forget, the trustee, Irving Picard, is claiming that because Wilpon and Katz “knew or should have known” that Madoff was a fraud, they are responsible to pay back hundreds of millions of dollars to Madoff victims, so this would be evidence supporting that, he claims.

Eh.  Look, I’m still generally skeptical of claims by the Wilpons that they were babes in the woods here, but this “shopping for fraud insurance” allegation doesn’t do much to support that in my mind.

For one thing, they didn’t buy the insurance. If they thought there was a serious risk of Madoff’s pyramid crumbling down, wouldn’t they have?

And more to the point, isn’t shopping for insurance a sign of prudence?  Just because I buy auto insurance doesn’t mean I’m gonna go crash my car into things. Just because I buy home owner’s insurance doesn’t mean I’m gonna burn the place down. I trust my doctor, but I’m damn glad he has malpractice coverage.

Insurance is just something you look into as a matter of course. You’d be shocked to see how many specialized insurance products are out there on the market. It’s almost as if insurance companies have a keen sense of how to prey on the insecurities of people in order to make a buck. They don’t mean anything in and of themselves.

So, sorry. If there were emails from back then saying “Hey, Fred! We all know that Madoff is a scam artist, so let’s buy some awesome insurance so we can skate!” fine, then it’s something. But the mere fact that someone was looking at this kind of insurance doesn’t do a whole hell of a lot for me. At best it’s spice in the gumbo. It’s not the shrimp, and without any shrimp, it’s pretty useless.

A.J. Hinch: “We’ll use every pitcher in Game 7 if we have to”

Getty Images
1 Comment

It’s not entirely clear why the Astros threw Ken Giles into the ninth inning of Game 6 of the ALCS. With a six-run advantage and the bottom half of the Yankees’ lineup due up, pushing the series to its seven-game capacity looked like a sure bet. Giles may be one of Houston’s better bullpen arms, but he’s not their only option, and it would have made more sense to keep him fresh for a do-or-die Game 7 on Saturday night.

Of course, there’s no such thing as a sure bet when it comes to postseason baseball. That’s more or less what Astros’ manager A.J. Hinch had to say after the game, telling reporters that he had envisioned a quick three outs from his closer as they tried to pull back from the brink of elimination. “We didn’t have the luxury of limping into that inning,” Hinch said. “We’ve seen how these guys can explode in these innings.”

It’s not difficult to recall the Yankees’ explosive drive in the eighth inning of Game 4, when they exploited the holes in Houston’s ‘pen and evened the series with Gary Sanchez‘s go-ahead double off of Giles. Back home in Minute Maid Park, however, there was a slightly different feel to the eighth and ninth innings of Game 6. Jose Altuve led off the eighth with a solo home run, followed by Alex Bregman‘s two-run double and Evan Gattis‘ sac fly. In the ninth, Giles labored through a 23-pitch outing to lock down the win, handing out a base hit and a seven-pitch walk before eventually whiffing Chase Headley on three straight pitches for the last out.

So, while Hinch’s decision to lean on Giles in Game 6 may have felt wasteful, his concerns were not entirely unfounded. He’s prepared to roll with the same strategy during Saturday’s series finale, too, leaving nothing on the table as the Astros battle for their first World Series showdown since 2005. According to Dallas Keuchel, that means all hands on deck — except for Justin Verlander, whose four wins, 24 strikeouts and 1.46 postseason ERA have gotten the Astros as far as he could possibly be expected to take them. “No pitcher is going to be in the dugout,” said Keuchel. “They’re all going to be in the bullpen, myself included. Any way we can help out, we’re trying to get to the World Series, the same way the Yankees are, and that’s a nice feeling to have.”

Does that mean Giles will be available for a Game 7 appearance? Stranger things have happened. Joe Sheehan notes that the right-hander has pitched in back-to-back days 13 times this year, though he’s never thrown as many as 23 pitches on Day 1. Granted, he likely doesn’t have enough left in the tank for another 20+ pitch run on Saturday, but with the World Series on the line, any help he can offer will be invaluable.