On November 4th, as annual baseball meetings got under way, Commissioner Bud Selig listed off Wall Street firms that had failed, warning general managers they need to “operate in a fashion that’s cognizant of that economy,”according to Jimmie Lee Solomon, executive vice president of baseball operations in the commissioner’s office.

Less than two weeks later, the New York Yankees are preparing to brush off the warning, and offer free agent pitcher CC Sabathia a deal that will make him the most expensive pitcher in MLB history. The same Sabathia that weighs as much as many defensive linemen, has a history that leans on the inconsistent side, and was merely average last season with the Indians, before moving to the National League, where he pitched well in his first half season facing many hitters who hadn’t seen him before, but was possibly overused.

Note that the offer has not yet been made–but team co-chairman Hank Steinbrenner, in his never ending quest to prove himself to daddy, saw fit to announce his team’s plans to the media.  In a further act of arrogance, he went so far as to say he expected to also make offers to AJ Burnett and Derek Lowe.

It’s a good thing the Yankees have such a proven track record with big money free agent deals.