Actually, JC, I don't see the Loaiza thing as a big mistake. Totally mediocre/average pitchers have been signing for at least that much ($8 million) per year. Sure, Loaiza is a health risk, but it's only for one year, and by assuming his contract now the Dodgers may get a few decent starts out of him.
Of course, there's really no reason to think he's better right now than Brett Tomko would be, but the Dodgers were evidently swayed by that totally meaningless 2-11 W-L record of Tomko's.
As for Cook and a rehab start: Fuentes aggravated his injury during a rehab start. So I might understand your point if the Rockies were planning on having Cook not even throw off a mound for another week or some such thing. But he's going to be pitching, he's probably going to be going more or less full tilt, and I think the reinjury risk has to be just about as big when making a minor league start as it would be pitching for the big club.
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