So what else is there to complain about?

Ok we can go back to the old reliable Wilpons!

This has nothing to do with Baseball it has to do with unhappy people wanting to see someone else suffer so they feel better!

The question is what will they do once Perez is finally cut? Complain about the Wilpons all season until they are gone?

Or will they move onto Beltran and his Knee?
Will Reyes be next on the furious fan hit list?
Bay?

It’s a never ending parade of THIS GUY HAS TO GO!

and since no one has the power to fire the Wilpons, lets just put enough stories out about them and keep them front and center so maybe they will say who needs this and give up!

And they will rejoice in Blog land for about all of 5 minutes before the Glory of their victory fades and they find some new targeted person to get their “Your Life Turned to Shit so I feel better about mine!” fix.

As to what Des was saying I haven’t a clue! LOL
But it was very witty!

Just because Picard interprets a certain incident in a certain way doesn’t make his interpretation correct.

Note you don’t hear much about it during the regular news reports it is always during the sports segment that any mention of this is made.

He also sued JP Morgan chase and settled for much less than their clients took in profits! Apparently many of the Victims he represents were very unhappy about the way he is handling situations differently. Some even think he is being unfair to the Wilpons and fear that by trying to get Billion they might even lose the 300 Mil everyone agrees (including the Wilpons) is due to the Victims.

As you correctly point out. If the Wilpons should have known so too should all of the “Victims” involved.

Are the profits rightfully theirs. not really. But the original investment made to get that profit is.

From what I have heard so far (which isn’t much really) even if both sides are PARTIALLY telling the truth the end and fair result should be something like returning the 300 Mil profit with Interest (as it would technically be a loan) and thats all!

The Victime would get what is essentially “THEIR MONEY” back with a reasonable return for lending it to the wilpons as a legitimate investment venture.

Then the only question involving the Wilpons (and the team) is do they have the assets to cash in so they can make that payment.

Which is why they are in discussions to sell minority stake in the team.
And I read recently that a few potential buyers have passed the Vetting proccess of the Wipons, new banking firm. Now just a matter of passing the League vetting by the owners to see if the old boy network is willing to deal with them.

And it is my guess that anyone who does buy in will eventually be majority owner of the team as there will likely be a first chance clause to buy the remaining shares should Wilpon ever decide to sell and conversely the Wilpons will have first crack at buying back those shares as well.

What do you think legal investment firms do with the money that people invest in them?

Did you think they put it in a bank and collect the 2% interest?

No they LEND that money to someone else, charge interest based on the collateral they have to ensure repayment of the load and charge way more interest than a Bank would get back!

So the fact they took a loan to startup SNY is not unusual in any way shape or form.

How it was recorded by Madoff in his Faux books may be unusual but not the fact the Wilpons took a loan.

And if you were someone who got a mortgage from what turns out to be a Mobster or thief should your house be confiscated? Should you be indicted for the actions of a third party?

And a lot of this is all based on other people’s morality standards. The claim was the Wilpons SHOULD have known it was a fraud and SHOULD have done the “right thing.”

Says who? Why SHOULD they have known and who’s to say what the “right thing” was? The Wilpons did nothing illegal by investing and the profits they made are rightfully theirs, regardless of if other people involved in the scheme lost money. It was Madoff who screwed that poor, old granny. That’s what a ponzi scheme is.

Until Picard comes up with a better claim than, “they SHOULD have known because…….well because……well because I say so,” he’s as guilty of fraud as Madoff is if he gets even one penny fromt he Wilpons.

WHENEVER, IT COSTS A LITIGANT ZERO TO STRETCH REALITY & THAT LITIGANT IS RELYING UPON RECEIVING A % OF HIS ACQUIRED AWARDS IT CERTAINLY PROVIDES SIGNIFICANT MOTIVE TO EXPAND THE REACH FROM A % OF 300M TO A % OF BETWEEN 300M & 1B. USING A KNOWN FALSELY INFLATED PORTFOLIO AS LOAN COLLATERAL IN LEGITIMATE BUSINESS TRANSACTIONS IS CERTAINLY NOT THE ACTION OF SOMEONE KKNOWINGLY BEING DUPED. IT WASN’T AS IF THE WILPONS COULD DISAPPEAR WITH ILLGOTTEN GAINS. ALL LOGIC POINTS TO WILPON NEGLIGENCE IN DOING THEIR RIGHTFUL DUE DILIGENCE IN INVESTIGATING MADOFF PRIOR TO INVESTING. KNOWLEDGABLE BUSINESSMEN TYPICALLY KNOW “GET RICH QUICK SCHEMES ARE A SCAM” HOWEVER, HISTORY REVEALS A NUMBER OF OTHERWISE SUCCESSFUL BUSINESSMEN TYPICALLY SCORNED BY ESTABLISHED(BLUE-BLOOD)(REFER TO DOUBLEDAY/WILPON RELATIONSHIP) HIGH SOCIETY TEND TO THROW CAUTION ASIDE WHEN SENSING AN OPPORTUNITY TO “GET ONE OVER” ON THEIR ‘BETTERS’ HISTORICALLY THERE WAS ONCE A NEUVEU RICHE FRENCH SALVAGE BUSINESSMAN WHO ONCE PUTRCHASED THE EIFEL TOWER FOR THE PURPOSE OF SCRAP METAL FROM WHO HE THOUGHT WAS A FRENCH GOV’T OFFICIAL(KLUDICROUS?) NO, IT NOT ONLY HAPPENED; BUT AFTER THE FIRST VICTIM WAS TOO EMBARASSED TO REPORT IT TO POLICE THE CONMAN FOUND ANOTHER SIMILASR VICTIM & SOLD THE ICON AGAIN FOR THE SAME PURPOSE SCRAPO SALVAGE. THESE ARE TWO HISTORICALLY ASCCURATE OCCURANCES AS DETAILED IN THE BIOGRAPHY OF VICTOR LUSTIG WRITTEN BY HIS FORMER FBI PURSUER IN THE BOOK ENTITLED, “THE MAN WHO SOLD THE EIFEL TOWER” IN IT IS ALSO A DETAILED ACCOUNT OF THE SUCCESSFUL CONNING OF THEN CRIME KINGPIN, AL CAPONE. INCIDENTS SUCH AS THESE REVEAL THERE ARE OFTEN INTERNAL, PSYCHOLOGICAL MOTIVATIONS THAT OFTEN DEFY LOGICAL CONSIDERATION BY OUTSIDERS, AS SUCH I’M CERTAINLY CONTENT TO LET THIS DRAMA PLAY OUT IN COURT BEFORE I ACCEPT THE DETERMINATION OF PUBLIC OPINION BASED UPON HALF-FACTUAL, ONESIDED ACCUSATIONS. WHERE THER’S SMOKE, SOMETIMES THE’S SOMEONE DOING DRUGS & NOT NECESSARILY A FIRE!
WERE THE WILPONS STUPID? NO DOUBT. DID THEY TRY TO MAKE AN EASY BUCK? CERTAINLY. LET THOSE AMMONG US WITHOUT EVER CONSIDERING SUCH THROW THE FIRST STONE!

IT’S CERTAINLY AGAINST A MET FAN’S SELF INTEREST(NY METS) TO CASTIGATE VOCIFEROUSLY IN A WAY THAT DISSUADES LEGITIMATE VIABLE PUTCHASERS FROM BECOMING INTERESTED.

One side the Other, the Vedict and what REALLY happened! LOL
The verdict compared to what really happened is proportional to the skill of the Lawyers involved to hide or expose details! LOL

Picard is relying on a very obscure Bankruptcy law that says they can try to claw back any profits an owner of a bankrupt company took over a certain period of time.

He is trying to say they were complicit but he has no evidence to prove they were actually in on the fraud so what he is trying to say that since the majority of the accounts in the fund were Wilpon accounts they were essentially OWNERS of the fraudulent investment firm (that is the one that has filed for bankruptcy) and therefore any profits and investments they made can be claimed and clawed back.

To site an example. If I owned a store and invested 10 Mil in it then got investors and took my 10 Mil plus 5 Mil profit back and THEN a few years later the store went bankrupt the victims have the right to “CLAW BACK” some of those profits and my initial investment that I had taken back.

It is predicated on the notion that I got my profit and then ran the store into the ground screwing everyone but myself.

And who knows it may even work but the problem with that is that Wilpon is not listed as an Owner of that company, Madoff is and despite the fact they asked him to cash out of the fund it was essentially Madoff that gave it to them.

Madoff borrowed from Peter to pay Paul.
hard to say Paul did anything wrong in that case.

I just feel that if we were in a similar position that we would all want the same “Innocent until Proven Guilty” to apply to us and if that is the case why are some not willing to apply it to others just because their favorite baseball team lost a bunch of games because their best batter had Knee Surgery?

Well you know what they say. There’s three sides to every story. Your side, my side and the truth.

If 70% of the money the Wilpons are being sued for is based on a subjective opinion of whether or not they KNEW about Madoff’s scheme, I don’t see this working out well for Mr. Picard.

Right or wrong, he’s trying to prove subjectivity, and that’s never easy.

We have a proper venue to dicern what the truth is…

It’s called a COURT OF LAW!

I suggest we wait to see what they say about what is true, who is guilty of lying based on the evidence presented to that court and decided by uninterested parties of the Jury!

If you were the subject of accusations I would insist on everyone giving you the same treatment.

It’s not about what I believe. Beliefs have no place in justice except in the case of Jurors when they have seen all and attempt to weight the evidence put before them!

Why is it that everytime Picard says something is it taken as the Gospel yet when it is denied by the defendant it is all taken as Bull?

Notice this amendment asks for no more money than previously.
What was the purpose of the Amendment pray Tell?

To get back on the front page because Picard is hoping to slant the public (potential Jury Pool) before the trial starts.

And youy buying into it hook line and Stinker!

http://www.nytimes.com/2011/03/19/sports/baseball/19madoff.html?src=recg

Trustee – Loan Should’ve Tipped Mets to Madoff’s Fraud – NYTimes.com

Martin, you shatter my perception of you. lol