Friday, December 12, 2008

If The Mets Don't Get Derek Lowe ...

Blame this guy ...
Investors scrambled on Friday to assess potential losses from the $50 billion fraud allegedly perpetrated by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.

Prosecutors and regulators accused the 70-year-old former chairman of the Nasdaq Stock Market of masterminding a Ponzi scheme of epic proportions through a hedge fund he ran (...)

The real estate investment firm Sterling Equities, co-founded by New York Mets owners Fred Wilpon and Saul Katz, had money invested with Bernard Madoff’s firm, CNBC has confirmed.

"Among our various investments, we have accounts managed by Madoff Securities,” the company said, in a statement. "We are shocked by recent events and, like all investors, will continue to monitor the situation."
In a unrelated story, Bobby Bonilla was rumored to have called the Mets to make sure that the $1,193,248.20 check he's due to get every year from 2011-2035 wasn't in any jeopardy. This call reportedly was made moments after looking up "Ponzi scheme" on Wikipedia with his friend's blackberry during a blackjack game.*

*This call may or may not have happened.

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