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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!