Sub-titled: This is why we can't have nice things.
The Cardinals were long rumored to be interested in the recently released left-hander Arthur Rhodes. He cleared waivers from the Rangers, apparently no one was interested in his $3.9M contract, and the Cardinals will pay him a pro-rated portion of the league minimum salary.
Rhodes, age 41, was remarkably awful during his 2011 campaign where he struck out just 15 in 24 innings while allowing 6 homeruns and 8 walks. His 4.81 ERA belied his terrible peripherals, though adjusting for homerun rate, seems to be close to representative. As the Cardinals have seen in 2011 with Ryan Franklin and Miguel Batista, marginal relievers can fall apart unexpectedly and in a hurry.
In defense of Rhodes, his prior to seasons were that of a good reliever including FIPs in the mid-3s. A statistical projection of Rhodes would indicate that there should be something left in the tank. His rest of season projection from ZiPS has him as a 3.65 FIP player. Ideally, he will be used as a true LOOGy filling in the role that Trevor Miller and Brian Tallet struggled to fulfill earlier in the season.
The recent injury to Lance Lynn opens an obvious spot in the bullpen though a player will need to be cleared from the 40-man roster to make room for Rhodes.