Wall Street Manna
An irreverent look at Wall Street
Friday, February 4, 2011
Mets owe $300 million from Madoff scam
483 accounts with Bernie Madoff, and the profits funded the Mets, so the $800 million of debt could be serviced.
And then, the Mets leveraged the fictitious accounts with Madoff, using them for bank loans.
All told, they owe another $300 million from illicit Madoff gains--not counting the hundreds of millions "they lost" when Madoff went bust.
In other words, the Mets ran their finances like they run their baseball!
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any good picks right now?
February 4, 2011 at 2:06 PM
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