🔥🚨DEVELOPING: In 2014 USA goalie Tim Howard became the star of the FIFA tournament when he went scorched earth on Belgium. He made a 16 save performance and is still one of the most iconic moments in football history.
Belgium is currently leading 3-1.
WHERE THE F*CK IS TIM HOWARD?
Bernie Madoff is the reason the Mets still wire Bobby Bonilla $1,193,248.20 every single July 1 until 2035.
Here's the math nobody runs. In 2000 the Mets owed Bobby $5.9M and wanted him gone. Rather than cut the check, they spread it across 25 years at 8% interest, starting in 2011. Total payout $29.8M. On its face it reads as lunacy. Pay $30M to escape a $6M bill.
Except Fred Wilpon had a plan for that $5.9M. He parked it with Madoff, whose accounts were printing steady 12% returns like clockwork.
Borrow at 8%, compound at 12%, keep the spread. That was the whole trade.
One analyst reverse-engineered it and found a second punchline hiding inside the first. At 12%, the $5.9M grows to roughly $8.5M before Bobby's opening check clears in 2011. From there the Mets pocket the four-point gap, about $236K a year, $5.9M across the life of the deal. That spread lands on the buyout amount almost to the dollar. The structure was built so Madoff's returns would make Bonilla functionally free.
Then the whole thing turned out to be a Ponzi scheme. The 12% never existed. The compounding never happened. Wilpon and his circle were wired into 483 Madoff accounts and lost hundreds of millions when it caved, and the "free" contract became a real $30M liability with nothing holding it up.
The proof the math itself was sound: Steve Cohen bought the team. Cohen built one of the highest-returning hedge funds ever run. For someone who clears 8% without breaking a sweat, a $1.19M annual payment is a rounding error he can fund out of pocket until 2035. So he did the one rational thing left and turned it into a marketing holiday.
Bobby's payout was only ever as smart as the investor standing behind it. For the years that decided everything, that investor was Bernie Madoff.
How is getting $8 billion from State coffers and $2.3 billion from deferring pension payments bringing a budget down to zero?
The same NYC taxpayers that pay the bulk of NYC taxes are paying the $8 billion of state taxes that are funding the budget gap.
This budget ‘fix’ is robbing Peter to pay Paul and it didn’t work out well for either of them.
Not only should congestion pricing be suspended during the strike (it should actually be totally eliminated) but the state gas tax should be suspended as well.
Kathy Hochul’s disasters since her last election:
LIRR Strike
Mass Exodus
Billions Spent on Migrant Crisis
Sky-High Taxes
Businesses Fleeing
Congestion Pricing Fiasco
Bail Reform Chaos
Medicaid Nightmare
Energy Costs Soaring
Wall Street Suffering
Worst governor in America.
Kimmel’s hateful and violent rhetoric is intended to divide our country. His monologue about my family isn’t comedy- his words are corrosive and deepens the political sickness within America.
People like Kimmel shouldn’t have the opportunity to enter our homes each evening to spread hate.
A coward, Kimmel hides behind ABC because he knows the network will keep running cover to protect him.
Enough is enough. It is time for ABC to take a stand. How many times will ABC’s leadership enable Kimmel’s atrocious behavior at the expense of our community.
Hey @jimmykimmel, what is funny about this?
Joking is one thing, but wishing death on the President by telling Melania “Mrs. Trump, you have a glow like an expectant widow”?
That’s not comedy, that’s dangerous rhetoric.
We’re better than this.