Andy Reid pulled off something magical this year: He managed to mess up the Eagles on and off the field.
Faced with a potential quarterback controversy and a dilemma involving Kevin Kolb and Michael Vick, Reid did what everyone else would do: He gave the keys of the franchise to Michael Vick and signed him to a six-year deal worth $100 million, with $35.5 of it guaranteed.
It didn't matter that Kolb had no leverage to force a trade and that Vick had a long history of not staying healthy.
Reid went with it and the Eagles are now left wondering if Vick is the long-term solution.
The quarterback mishap was somehow overshadowed by Reid's handling of the defensive personnel.
Reid ignored the linebacker and safety positions and handed free-agent cornerback Nnamdi Asomugha a five-year, $60 million deal, including $25 million guaranteed. On top of that, the Eagles had to fork over $5.9 million to Asante Samuel and $1,128,750 to Dominique Rodgers-Cromartie.
To make matters worse, Reid butchered the DeSean Jackson situation, even though he went through something similar with Terrell Owens in 2005. Owens wanted more money, Reid and the front office played hardball and the Eagles were ultimately burned.
Fast forward to 2011. Reid and the front office took the same approach with another disgruntled wideout and to no one's surprise, the Eagles got burned again.
Thankfully, the season will end in less than one month, and with it, Reid can take the first step in making things right in Philadelphia. This is assuming owner Jeffrey Lurie brings him back, of course.
But even if Reid is gone, LeSean McCoy's contract should become one of the biggest priorities.
As much as fans want Juan Castillo canned or a big-named linebacker signed, everyone should pray McCoy's contract is reworked and that he remains an Eagle for at least the next five years.
McCoy will find himself in the last year of his contract in 2012, when he is scheduled to make $575,000, which is $25,000 less than what Jackson made this year.
It's incredible to think McCoy could finish as the leading rusher in the NFL this year and yet find himself making less than long snapper Jon Dorenbos.
Put yourself in McCoy's shoes. You have 12 rushing touchdowns, average 5.3 yards per carry and you're only 23 years old. As you think about those things, you see running back Matt Forte go down with an MCL sprain while he is in the midst of a contract dispute with the Chicago Bears.
It would make any reasonable man think twice about putting his health at risk without being financially secure. It would take an equally unreasonable franchise to think not signing McCoy to a contract extension would be a wise move.
Despite a poor past with receivers, the Eagles did handle Brian Westbrook's contract situation well. While things were going south with Owens, the front office signed Westbrook to a five-year extension and avoided any headaches.
If history does repeat itself and Jackson is playing the role of Owens, then McCoy would certainly qualify as Westbrook.
Not only is he facing the prospect of being underpaid, but he is also a versatile weapon who opens things up for every player on the offensive side of the ball.
Even if McCoy wasn't having a career year, it is pretty obvious he is the kind of player to build a team around along with left tackle Jason Peters.
Let's say Vick isn't the answer. Do you want to bring in a young quarterback without a stable left tackle and without the support of a strong running game? Even if Vick is the answer, it still makes sense to take the heat off of him with good protection up front and the ability to run the ball effectively.
In a year filled with awful decisions, the Eagles are due to make a good decision in the upcoming offseason.
From Simon Black of Sovereign Man
A Very Subtle Form Of Theft
Say what you want about him, but Bernie Madoff was a guy who knew how to keep the party going. For years, he ran one of the largest private-sector Ponzi schemes in history and always heeded the golden rule of financial scams: make sure your inflows are greater than your outflows.
He was finally done in when redemptions exceeded new investments. He didn’t have enough cash to pay out investors, and he wasn’t able to scam more people into paying in to the scheme. As a result, Madoff finally had to admit that the whole thing was a total fraud.
Governments around the world are in similar situations right now with their own public sector Ponzi schemes. Faced with failed auctions, declining demand, and rising yields, politicians are having to resort to desperate measures.
Like any good scam artist, they’re appealing to the masses first; all over Europe, governments are sponsoring new marketing campaigns suggesting that it’s people’s patriotic duty to buy government debt.
In Spain, they’re actually issuing instruments called ‘Bonos Patrioticos,’ or ‘patriotic bonds’. Ad campaigns say that the bonds are “good for you, good for the future.”
In Ireland, they’ve issued “Prize Bonds” which carry a 0% interest rate; instead of receiving interest, bondholders are entered into a weekly lottery contest. Naturally, lottery winnings are only possible as long as people keep buying the bonds… pretty much the definition of a Ponzi scheme!
In Italy, they’re rolling out the country’s sports celebrities to encourage everyone to buy Italian sovereign debt.
What’s ironic is that Italy’s dismal balance sheet is almost universally acknowledged. It’s as if everyone knows the country has almost no chance of making good on its obligations, but they still feel the need to willingly throw away their hard earned savings for the greater good of political incompetence.
Thing is, it’s not the millionaire sports stars, wealthy business leaders, or political elite who are buying these bonds… at least, not in anything beyond a token, symbolic amount. It’s the average guy on the street who really stands to get hurt when the government finally capitulates.
This is a truly despicable act and amounts to theft, plain and simple.
The United Kingdom, which is rapidly reaching this banana republic sovereign debt status itself, has unveiled a plan to issue roughly $50 billion in infrastructure bonds. This would be the equivalent of issuing $300 billion in the US– not exactly chump change.
Given Britain’s already colossal debt level, private investors aren’t exact diving in head first to loan the government even more money.
Undeterred, British Chancellor George Osborne plans to ‘highly encourage’ UK pension funds to mop up about 60% of the total amount. “We have got to make sure that British savings in things like pension funds are employed here and British taxpayers’ money is well used,” he said.
In other words, ‘we are going to make sure that British people buy our junk, one way or another.’
The last year has seen numerous pension funds around the world, from the United States to Argentina to Hungary, be raided for the sake of keeping these Ponzi scheme going. The UK is already lining up to be the next.
It’s one of the last acts of a truly desperate government to begin directing public and private savings into their Ponzi schemes.
Fast-forward a few downgrades and you can plan on seeing the exact same thing in the United States– appealing to people’s patriotism to loan their hard-earned savings (if they even have any) to the Federal government at a rate of interest that fails to keep up with inflation.
It’s nothing more than a very clever (and subtle) form of theft.
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