Madoff trustee throws some new stuff at Wilpon and Katz

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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.

Blue Jays sign Michael Saunders

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The Blue Jays have signed outfielder Michael Saunders to a minor-league deal, per a club announcement.

Saunders, of course, played for the Blue Jays in 2015 and 2016, putting up a line of .250/.336/.461 in 594 plate appearances. It was his good play in the first half of 2016, in fact, which earned him an All-Star spot and, presumably, made the Phillies think he was worth the $9 million deal they gave him over the offseason. That didn’t work out, as he hit .205/.257/.360 over 61 games and was released last week.

The Phillies will pay the rest of that $9 million. The Jays will see if he has anything in the tank to help them out.

Giants closer Mark Melancon is heading to the disabled list once again

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The Giants have placed closer Mark Melancon on the 10-day disabled list with a right pronator strain.

This is the same injury that sent him to the disabled list last month. He came back from that quickly, but it can’t be great that this is happening again. You have to assume he’ll miss more time given the recurrence of trouble. He’s going to get an MRI too. Sam Dyson is expected to serve as the Giants’ closer while Melancon is sidelined.

Melancon has a 4.35 ERA and 11 saves in 22 appearances this year. He signed a four-year, $62 million deal with San Francisco last December.