Newsday: Sterling didn’t Lose $ with Madoff
…i think this is important, and i have not seen anyone talk about it…
Fred Wilpon’s Sterling Equities didn’t lose money 
to Bernie Madoff, according to a report in Newsday, instead, “it was able to withdraw about $50 million over what it invested.”
In short, the report describes Sterling as being ‘net winners,’ as it pertains to the Madoff situation, “because it withdrew or transferred out more money than it had deposited, according to court records filed in the bankruptcy case.”
…two weeks ago, on MetsBlog.com, here, i wrote:
…i heard from two people this week, neither of whom know one another, one with the team, one in the business community, and both said Bernie Madoff may have paid the Wilpons back roughly half the money they initially invested… which may explain the difference in reports suggesting they lost $700 million, while some say they lost $300 million…
…i wonder if the Newsday report is what these two people were referring to… i will not pretend to understand the Newsday report in full… i have a hard enough time balancing my own checkbook… but, it seems to me, he is saying that wilpon may not have taken as bad of a hit as some people have portrayed, which is what the team has been saying all along…
