Patriots

Ex-Chicago Bears QB McMahon facing lawsuit

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Ex-Chicago Bears QB McMahon facing lawsuit

From Comcast SportsNetCHICAGO (AP) -- In an attempt to recover 104 million, federal authorities have sued former Chicago Bears quarterback Jim McMahon and eight others involved in a now-failed bank that was at the center of the campaign for President Obama's old U.S. Senate seat.Seven former directors -- including McMahon -- and two officers of Broadway Bank ignored federal warnings about just how risky some of the bank's loans were, according to the Federal Deposit Insurance Corp. lawsuit filed last month. Two loans were approved in 2008 on the very day regulators "specifically warned" about "the risks that these types of loans posed to the Bank."In all, 104 million in losses from 17 loans "were caused by gross negligence" and breaches of fiduciary duty by the defendants, the lawsuit says.McMahon's involvement was confirmed Monday by a person close to the case who spoke on condition of anonymity because he was not authorized to speak publicly about the details. It was first reported by the Chicago Sun-Times.McMahon, the brash leader of the Bears, led the team to the 1986 Super Bowl victory over New England. He is now among dozens of retired players who have sued the NFL, blaming the league for concussion-related dementia and brain trauma.Also named in the FDIC lawsuit are relatives of former Illinois treasurer and Senate candidate Alexi Giannoulias. Giannoulias, who was an officer at the bank that was founded by his father before being elected state treasurer in 2006, is not named in the lawsuit. But the allegations of shady loans at the bank that was shutdown in 2010 dogged him throughout his unsuccessful Senate bid against Mark Kirk that year.In a statement released through his attorneys, McMahon said Broadway Bank's failure stemmed from the bank's inability to "withstand the greatest market decline since the Great Depression" and not any wrongdoing."With the advantage of 20-20 hindsight, the FDIC now blames Broadway's former officers and directors for not anticipating the same unprecedented market forces that also surprised central bankers, national banks, economists, major Wall Street firms, and the regulators themselves," he said. "I am proud to have served as an outside independent director for a brief part of the bank's history. The allegations in the complaint are utterly without merit and I expect to be fully vindicated."McMahon was on the board of directors from 2003 through late December 2008. The FDIC says McMahon played a role in only one of the 17 bad loans, when the board approved a 28 million loan that resulted in a loss of 19 million."Despite his board responsibilities," the lawsuit also says, "McMahon repeatedly missed critical board meetings."

Report: In threatening Goodell, Cowboys owner insults Kraft

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Report: In threatening Goodell, Cowboys owner insults Kraft

Dallas Cowboys owner Jerry Jones, upset over the six-game suspension of his star running back Ezekiel Elliott, has been fighting against a contract extension for NFL commissioner Roger Goodell.

How hard has he been fighting? Enough to reportedly insult Patriots owner Robert Kraft in the process. 

ESPN reports that on a conference call in August with Goodell and NFL general counsel Jeff Pash when Jones was informed of Elliott’s suspension for domestic violence incidents, Jones told the commissioner, “I’m going to come after you with everything I have.” He then invoked Kraft’s response to Deflategate and Tom Brady’s four-game suspension.

“If you think Bob Kraft came after you hard, Bob Kraft is a p—-y compared to what I’m going to do,” Jones told Goodell, according to ESPN’s Don Van Natta Jr. and Seth Wickersham.

Elliott, like Brady, abandoned his court fight this week and will serve his suspension. Kraft, of course, produced the Wells Report in context website, but grudgingly accepted the NFL’s penalty in the Deflategate case. Jones has threatened to sue the NFL if Goodell’s contract extension is approved.   

 

Blakely: Work in progress, but oh, what progress

Blakely: Work in progress, but oh, what progress

BOSTON – The words of Stephen Curry following the Celtics’ 92-88 win over his Golden State Warriors had an off-handed, end-of-the-night throwaway feel to them, a statement that would soon be forgotten after the Warriors reel off what should be a long string of victories going forward.
 
“They’re playing the best right now in the East,” Curry said of the Celtics, who now have a 3-2 edge in their past five meetings following Thursday night’s thriller. “And obviously until they beat Cleveland, who's done it three years in a row … so we’ll see.”

CELTICS 92, WARRIORS 88

We already have, folks.
 
The Celtics and the Warriors are both quick to remind us all that we are only a month into the season and that there’s still lots of basketball to be played.
 
But the big takeaway from Thursday was that the Celtics’ ascension to the top of the NBA mountain is a matter of when, not if, it’ll happen.
 
Because what we’re seeing now is a team that is very much a work in progress, yet one that still manages to win games on a lot of nights that they have no business winning.
 
Think about it.
 
They shot 32.9 percent against the Warriors, the best team in the NBA, and still managed to get the win. According to NBA stats guru Dick Lipe, it was only the second time in the past 35 years that the Celtics shot less than 33 percent from the field and still managed to win.
 
That speaks to how well Boston defended the Warriors, who came in averaging a league-best 119.6 points per game.
 
But more than that, it shows this team has a will to win that’s almost unheard of for a group whose pieces are so relatively new to one another.
 
Of the 14 Celtics with guaranteed contracts on the roster, all but four are in their first season in Boston.
 
But even with the new guys coming together quicker than anticipated, Boston should not all of a sudden be considered the favorites in the NBA.
 
Even with the victory, Boston still has some ground to make up if they are to be on the same level as Golden State, a franchise that has been to the NBA Finals each of the past three seasons and has emerged a champion twice.
 
“It takes a lot of basketball to get there,” said Warriors guard Klay Thompson. “They have a good, young, hungry team. You have to give them credit. They have a better record than us, so you can say they’re better now.”
 
And while Thompson didn’t place an emphasis on it, the last word in his comments, “now,” is why Thursday’s victory leaves the Celtics cautiously optimistic.
 
Because as we’ve seen time and time, regular-season success does not always travel well beyond that and into the playoffs.
 
Still, Thursday’s win provides something for Boston beyond hope and optimism.
 
They now have results to go with the work they’ve put in to be a better team and compete with the league’s best.
 
And they’ve done it under less-than-ideal circumstances.
 
Gordon Hayward went down with an ankle injury less than five minutes into the season and he’s expected to be lost for the rest of the season. Al Horford missed two games while recovering from a concussion while Kyrie Irving missed a game after suffering a facial fracture.
 
So in other words, the Big Three that Boston was set on unleashing to the rest of the world has logged less than five minutes together all season.
 
And yet there are the Celtics (14-2), tops in the NBA while riding a historic 14-game winning streak, and there's reason to believe that maybe, just maybe, these two will be the last teams standing when all is said and done and some of those customary throwaway lines uttered by Curry might have some value after all if these two wind up meeting in the NBA Finals.

“I hear the weather is great here in June,” Curry said.