Metsastrophe

I don't know why, but for some reason I am a Mets fans (most of you are now thinking that this explains it all). The Mets are a perfect example of our current society and where our country in particular and the West in general are heading.

Apparantly the Mets, a professional baseball team in the biggest sports market in the world, managed to pretty much go bankrupt. They still are not admitting that they are bankrupt, since they are probably waiting for a bailout, or two.

This all started at the end of last year when the Wilpons wanted to see if anyone wanted to become a 25% owner with them, but not have any decision making control of the organization. After all the recent news that has come out they will be lucky if they can sell the Mets for the 800 million that Forbes says they are worth, considering the more than 400 million that the Times says the Mets are in debt.

The Wilpons somehow managed to HALOC the heck out of a professional sports team to a tune of more than a half billion dollar (pretty much like a large chunk of the population did with their houses). It is so bad that Citi (the one that needed tax dollars to not be closed down) now wants to take its name off the ballpark.

This has gone from ridiculous to preposterous, and I know that somehow the taxpayer will end up holding the bag in the end (remember that near 500 million dollars of tax-exempt and taxable bonds issued by the city's Industrial Development Agency were used and a few hundred million was additionally added by state and the city just to finish the stadium).