Bernie Madoff Update

Spocky Ramone

Spocky Ramone

Well-known member
Like Generalisimo Francisco Franco, he’s still dead, but his legacy lives on!

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Actually the deal made all the sense in the world for both parties.   Wilpon was making double digit return on paper, and the interest on the deferred payments to Bonilla was far less.   Bonilla for his part, did a very smart thing.  Many athletes piss away big paydays as active players.    The number of former NBA players bankrupt just 5 years after retiring is staggering.   Bonilla deferred a big chunk never to have to worry about it.   

Because Madoff ran an immense Ponzi scheme with virtually no oversight, Wilpon was suckered in.   Whether Bonilla hit .250 or .330 is irrelevant.    The math behind the deal was faulty because Madoff was stealing from Wilpon and thousands of others.
 
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