Wednesday, August 25, 2010

The Swindlers Who Run The Florida Marlins

Corporate Fraud Is Alive And Well In Major League Baseball
They are as bad as anyone on Wall Street, scheming, misleading and ultimately sticking taxpayers with a multibillion-dollar tab. Somehow a team that listed its operating income as a healthy $37.8 million in 2008 alone swung a deal in which it would pay only $155 million of the $634 million stadium complex. Meanwhile,
Miami-Dade County agreed – without the consent of taxpayers - to take $409 million in loans loaded with balloon payments and long grace periods. By 2049, when the debt is due, the county will have paid billions.
here

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