SEC Fail Applesauce - Pelfrey's consistency, Madoff client included SEC official, K-Rod's option

by Joe Budd on Feb 23, 2011 8:08 AM EST in Applesauce

Meet the Mets

With Mike Pelfrey being the Mets' top starting pitcher to open 2011, it's certainly reasonable for fans to worry about the team's pitching. One thing we should probably realize after looking at Pelfrey's career to date: his reputation for inconsistency is a myth.

That being said, I wouldn't be opposed to bringing in a few more arms to provide some insurance in case any of the current folks get injured.

Some news on the Madoff suit from yesterday: trustee Irving Picard alleges that the family of the Securities and Exchange Commission's top lawyer earned $1.5 million from the Madoff scam. If true, that may explain why the SEC was slow to catch on to Madoff.

You can learn more about the Madoff scam and the Mets' role in it by going to Broadway this season and enjoying "Springtime for Bernie."

Here are the players who might make the Mets just because they are out of options.

One thing we can look forward to this season is not having to watch Willie Harris steal a win from the Mets.

The MLBPA is going to be on high alert and will watch the Mets' treatment of Francisco Rodriguez's vesting option very closely.

Section 518 has a great post up about some of the Mets' greatest one-year wonders with a Derek Bell appearance.

And, finally, here is some important history on the Mets' lack of a no-hitter.

Around MLB

Some funny stuff from Phillie camp that we can enjoy for the moment. First, Shane Victorino is not looking forward to being homesick away from his parents. But, also, were apparently supposed to be intimidated by the Phillies' team photos seemingly taken in front of a porno store.

Run differential is crucial and it may actually make a difference how you achieve that differential.

Font nerds rejoice!

This story is too good to be true, but apparently someone left a special present for Dusty Baker towards the end of his Cub manager days.

If that's not embarrassing enough for the Cubs, how about team advertising that spotlights Derek Jeter.

Players who went to arbitration this off-season saw an average 100% increase in their salaries.

Mark Grudzielanek, a one-time potential Met second baseman, has retired.

And, finally, Charlie Sheen is begging for Major League 3 to get made.

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Comments

I kinda hope

that BBRod starts out the season erratic, someone takes his place and pitches like Jesus.

What Would Matt Szczur Do?

Fact on Villanova Sports

by Hoyadestroya85 on Feb 23, 2011 9:29 AM EST reply actions

Me too

Unfortunately, I think this means we’ll see BB-Rod in 2012 unless he falls flat on his face or is injured for an extended period of time.

by SFloridaMetsFan on Feb 23, 2011 9:41 AM EST via mobile up reply actions

I know none of us want him around for 2012

because of his absurd option, but he can still be an effective pitcher, and I think if the Mets were in a position to contend…he could certainly help out.

Thoughts?

by metsman07 on Feb 23, 2011 9:48 AM EST up reply actions

I feel its situational

If the Mets are contending and he is being put in the game regularly for save oppertunities I dont really see an issue. If the Mets are out the playoff hunt, and he is being thrown out there for no reason, then I’ll be upset.
I have a feeling all this is moot though, now that that the Union basicly stated it will be up our asses with the vest, it almost garuntees we will see K-Rod next year. I really dont think the Wilpons will allow this to get ugly.

by SFloridaMetsFan on Feb 23, 2011 12:57 PM EST up reply actions

BS

as you said, Mets in a race, then they won’t change his usage… however if the Mets are not in a race they will have every right to try different people in the role… like Parnell, etc. to plan for the future. Nothing the PA can do about that.

by ThnkGoodnessforHowieRose on Feb 23, 2011 1:31 PM EST up reply actions

Did you see what the union chief said?

They’ll be watching very closely. Im not sure, but I have a feeling the union wont see a difference in whether we contend or not, just that we stopped using a closer in the way we used him earlier in the year.

by SFloridaMetsFan on Feb 23, 2011 1:41 PM EST up reply actions

the PA

is free to do anything they want, but vesting clauses in contracts come with risk to the player… they aren’t the same as guarantees.

and yes, I saw what Weiner said.

by ThnkGoodnessforHowieRose on Feb 23, 2011 1:43 PM EST up reply actions

So what makes you think they'll allow

the Mets to just stop using him to finish games and try out Parnell or whoever without throwing out there th Mets purposely are trying to avoid the vest?

by SFloridaMetsFan on Feb 23, 2011 1:46 PM EST up reply actions

what do you mean

“allow?”

by ThnkGoodnessforHowieRose on Feb 23, 2011 2:16 PM EST up reply actions

Allow

As in pitch a fit or log a formal complaint of collusion. Perhaps I should have used another word.

by SFloridaMetsFan on Feb 23, 2011 2:31 PM EST via mobile up reply actions

Also

I don’t see the Wilpons trying to be in any other form of crap with anyone. Whether it’s warranted or not. Especially since they are Seligs buddies.

by SFloridaMetsFan on Feb 23, 2011 2:36 PM EST via mobile up reply actions

hmmm

didn’t they just battle the PA over the Rodriguez suspension this pat year and succeed to the tune of $3MM?

by ThnkGoodnessforHowieRose on Feb 23, 2011 3:28 PM EST up reply actions

they can challenge anything they want,

but that doesn’t mean they can/will succeed.

by ThnkGoodnessforHowieRose on Feb 23, 2011 3:30 PM EST up reply actions

as far as i recall reading,

the test is whether or no the team is playing to win games. Moreover, every team who is out of a race always looks toward the future by giving PT to players they believe could be part of their future. This will be no different.

Not to mention that the Mets could end up dealing him to a team that has an established closer and then use Frankie to set up… and the PA would be powerless to do a thing about it. Frankie could sulk, but in the end that just impairs his future market value.

by ThnkGoodnessforHowieRose on Feb 23, 2011 2:21 PM EST up reply actions

whether or "not"...

by ThnkGoodnessforHowieRose on Feb 23, 2011 2:21 PM EST up reply actions

I don't see why they can't do it

if a team is willing to sacrifice potential wins to avoid a vesting option, thats the danger of the vesting option. I know the PA will raise a shitstorm about it, but I hate that they’re allowed to dictate player usage in any way. Really though if the team refuses to use him in anything but save situations (no junk finishes) or even better uses him in the 8th sometimes to get critical outs, I think the PA won’t really have a leg to stand on.

Hey, wait! I'm having one of those things. You know? A headache with pictures?

by KeithsMoustache on Feb 23, 2011 2:25 PM EST up reply actions

They can "watch" all they want

it doesn’t mean they’ll have a case.

Save Jenrry Mejia!

by Ogre39666 on Feb 23, 2011 2:44 PM EST up reply actions

Question for you Hoya

Do you post on SB blog called The 7th Floor?

by SFloridaMetsFan on Feb 23, 2011 9:44 AM EST via mobile up reply actions

occasionally

What Would Matt Szczur Do?

Fact on Villanova Sports

by Hoyadestroya85 on Feb 23, 2011 10:19 AM EST up reply actions

Like

Feliciano? Familia?

Thank you Matt Moulson!
It doesn't hurt being an Islander fan....but it sure hurts playing for them...get well soon, um, everybody....

by CharlieIsles on Feb 23, 2011 11:51 AM EST up reply actions

a few quick hits

The phillies photos are just awful for a few reasons. 1) Its the phillies 2) they all look arrogant and douchey 3) did i mention it looks douchey?

i think..it..ya know has a potential of happening this year.

If BBrod plays well do we look for a trade ?

Major League 3(technically 4 if you count the back to the minors one) i’d watch it.

I hate Philadelphia so much.

by the caveman on Feb 23, 2011 9:50 AM EST reply actions

isn't player

a onetime potential Met?

by ThnkGoodnessforHowieRose on Feb 23, 2011 10:13 AM EST reply actions

isn't "every" player....

by ThnkGoodnessforHowieRose on Feb 23, 2011 10:13 AM EST reply actions

if Wainwright has TJ,

the Cards prob sign Millwood…

by ThnkGoodnessforHowieRose on Feb 23, 2011 10:13 AM EST reply actions

Yup and he'll have a career turnaround and win 18 games.

by David G on Feb 23, 2011 11:34 AM EST up reply actions

this has nothing to do with the mets but the nets site isn't loading and I need somewhere

to express my uncontainable GLEEEEEE. WE GOT FUCKING DERON WILLIAMS OMG. EVERYTHING IS DERON WILLIAMS AND NOTHING HURTS.

I feel bad for my little brother. He walked in and saw that the score of the Nugs-Magic game was 88-89 and thought it was high scoring.

All he knows is the Nets.
by Maxyboy on Dec 14 2010

Rex Ryan lobby for championship toe ring.

by Gina on Feb 23, 2011 11:56 AM EST reply actions

I'M SUPPOSED TO BE WRITING A PAPER THAT WAS DUE YESTERDAY AT 12:30

AND IDEVENGAF CAUSE NOTHING WILL GO WRONG IN THE ERA OF DERON WILLIAMS.

I feel bad for my little brother. He walked in and saw that the score of the Nugs-Magic game was 88-89 and thought it was high scoring.

All he knows is the Nets.
by Maxyboy on Dec 14 2010

Rex Ryan lobby for championship toe ring.

by Gina on Feb 23, 2011 11:57 AM EST reply actions

it'll be nice

for the Nets to be relevant again.

by ThnkGoodnessforHowieRose on Feb 23, 2011 12:32 PM EST up reply actions

Hope DWill is willing to sign an extension...

by SFloridaMetsFan on Feb 23, 2011 1:42 PM EST up reply actions

i dont think those words relevant and nets

have been not linked since J.Kidd was there or Drazen Petrovic

I hate Philadelphia so much.

by the caveman on Feb 23, 2011 3:14 PM EST up reply actions

Wow

I’m wondering if the Knicks would have been better off with him than Anthony, but I suppose they still have a shot at Paul.

Nice play by Prokhorov, get Knicks to fork over as much as possible for Anthony and then go get Williams.

by wobatus on Feb 23, 2011 2:56 PM EST up reply actions

I don't pay much attention to basketball, so I'll ask the stupid question:

Is Williams that much better than Harris/Favors?

"And that's why anybody who invested with Lenny Dykstra should really call that number. Lawyers are standing by."

by BobbyV_Incognito on Feb 23, 2011 5:58 PM EST up reply actions

Bonderman is an interesting name out there

Don’t know how hard he throws anymore, though. Only 5.9 Ks per 9 last year. But Citi Field and the National League could maybe help him. At 28, he’s got more upside than Capuano I would think.

by David G on Feb 23, 2011 12:18 PM EST reply actions

i mentioned his name

And was mocked

I hate Philadelphia so much.

by the caveman on Feb 23, 2011 5:02 PM EST via mobile up reply actions

The Ol' Perfessor would like to remind you that there are 37 days to Opening Day!

by CTRefJay on Feb 23, 2011 1:11 PM EST reply actions 2 recs

The SEC lawyer

was hired after Madoff turned himself in. The SEC’s incompetence didn’t have anything to do with him.

by wobatus on Feb 23, 2011 2:57 PM EST reply actions

Actually

Madoff didn’t turn himself in; his sons turned him in to the SEC. The SEC is a paper tiger. It’s a complete sham. I don’t believe the SEC is that stupid, I believe they’re that complicit. I wouldn’t be surprised one damned bit if there were SEC members who colluded w/Madoff. No one should be surprised @ anything that comes from this. The truth will come out.

UP IN DIS HIZZLE, WE PITCH TO CONTACT!

by LOUtheMETandNATSfan on Feb 23, 2011 5:11 PM EST up reply actions

the SEC was warned at least a year in advance of the massive fallout by all accounts by another whistleblower

and possibly earlier than that. They ignored the warning signs because it was convenient and easy.

Hey, wait! I'm having one of those things. You know? A headache with pictures?

by KeithsMoustache on Feb 23, 2011 5:15 PM EST up reply actions

Convenient and easy

because members of the SEC colluded w/this *ocksucker. I don’t doubt it for a minute.

UP IN DIS HIZZLE, WE PITCH TO CONTACT!

by LOUtheMETandNATSfan on Feb 23, 2011 5:26 PM EST up reply actions

Right

Regardless, and while I know there were some nepotism issues (an SEC compliance official married one of his relatives, I forget who), incompetence, etc., I don’t think this particular lawyer’s parent’s investment with Madoff is what compromised the SEC.

Yes, the SEC ghad been warned, by Harry Markopoulus, among others. I don’t think they looked into it very carefully. In general, the SEC for years has been very lax and lets the big market players supposedly police themselves and only attacks small fry bucket shop type stuff.

I don’t know how much of a conspiracy it is, though. It shouldn’t have been that hard to figure out Madoff was a fraud. Just match up his supposed trades with records at Depository Trust

But the SEC is a bunch of lawyers, not forensic financial industry people. Markopoulus was trying to explain to them that reverse engineering his supposed strategy (which was really pretty much just selling covered calls against long positions), he couldn’t possibly be actually making the consistent returns he claimed. He was either front-running trades of his own clients (from the market making operations) or running a ponzi scheme. But the SEC people he spoke to didn’t seem to really understand what he was telling them.

I know SEC lawyers. many very good at what they do. But they get bombarded with tips every day, usually from disgruntled investors. A lot of what people think is illegal is in fact fine. People losing money isn’t their main issue. Full disclosure is. if something is disclosed, they don’t care if someone pays $100 for a worthless stock.

With Madoff, he was a bigshot. He’d been chairman of the nasdaq. He had influential and powerful clients. The SEC people probably just didn’t look into it very hard at all. They didn’t believe he could be running a scam (and there was even an article in barron’s years ago positing that it was a scam of some kind).

I don’t blame people for railing against the SEC and the whole free market culture (their top lawyer for a while under Bush, Harvey Pitt, had been a long time white collar defense lawyer and in general he supported a lax regulatory regime), but I don’t think the SEC was complicit in the sense of someone there getting a financial benefit from the scheme all the while fully knowing it was a fraud.

by wobatus on Feb 24, 2011 10:55 AM EST up reply actions