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Quote of the Day: Low-hanging fruit edition

Feb 4, 2011, 4:22 PM EDT

Fred Wilpon

Buster Olney — who isn’t known to crack wise on Twitter very often — cracked wise on Twitter this afternoon in response to the Wilpon-Madoff mess:

The Mets’ best defense in Madoff suit: We signed Oliver Perez and Luis Castillo to $60m deals-and WE were supposed to sniff out Ponzi scheme?

See, that’s funny, but there is a core of horror there for all Mets fans.

As far as I can see, there really are really only two explanations for the Wilpons’ current mess: (1) they were, as the bankruptcy trustee alleges, willfully blind or even indifferent to the warning signs that surrounded the Bernie Madoff investments; or (2) they were simply ignorant of all of the risks and warning signs despite their vast investment experience and business sophistication.

Negligent or dumb?  Take your pick.  Neither one is very comforting.

  1. Mr. Jason "El Bravo" Heyward - Feb 4, 2011 at 4:41 PM

    Aside from 27 championships, it must be really great being a Yankees fan when the other team in your town is the God-forsaken Metropolitans.

    • fribnit - Feb 4, 2011 at 4:48 PM

      Yes, yes it is

  2. Brian Murphy - Feb 4, 2011 at 4:43 PM

    Dumligent?

  3. billybeaneismyhero - Feb 4, 2011 at 7:43 PM

    Based on the fact they dropped $60M on Castillo and Perez, I’m going with dumb. Actually, now that I think about it, negligent also works for that as well.

  4. Jonny 5 - Feb 4, 2011 at 8:34 PM

    I tend to think they knew they were involded in a load of BS and decided to play dumb now that Bernie got busted.You don’t “blindly” throw that much loot to anyone.

  5. cur68 - Feb 4, 2011 at 8:39 PM

    So many smart people got bilked by madoff. The Wilpons are actually on a distinguished list. Castillo & Perez were a way more legit investment than old Bernie ever was. Of the mistakes herein, my opinion is that Castillo and Perez were the safer bet. @ least you could keep an eye on your investment, as opposed to blindly trusting Bernie Madoff-with-your-dough. I feel for ya Mets fans. I used to root for the Expos. This is the old double whammy; dud players and a franchise that is on shaky financial footing (the Expos’s stadium was also on dubious foundations as well; the roof fell off once, alas). This and like tragedies I know oh so well.

  6. superpriebe - Feb 4, 2011 at 10:03 PM

    Heinz, the Baron Krauss von Espy: [in outrageous French accent] She spe-cif-i-cated a silly man.
    Freddy Bender: Objection, Your Honor!
    Judge Marva Munson: I’m going to allow it.
    Heinz, the Baron Krauss von Espy: She spe-cif-i-cated a man who, though clever at making money, would be easily duped and controlled.
    Freddy Bender: Objection, Your Honor!
    Miles Massey: Shut up, Freddy. She’s allowing it.
    .
    .
    .

    Heinz, the Baron Krauss von Espy: Finally, a man whom she could herself brazenly cuckold until such time as she might choose to, uh – We would say, “faire un coup de marteau sur des fesses.” You would say, “make hammer on his fanny.”

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