Most teams and manager don't look at blown saves (or save percentage) but total SV. It's still the dark ages when it comes to statistical analysis on closers for many franchises, including the Tribe with Borowski and his 5.44 ERA + 1.42 WHIP. The Indians management probably only sees that he has 34 SV, which is good enough for 4th in the majors. Sad, but true.
This statement could not be more false. I guarantee you that the Indians management is well aware of how many saves he's blown and how many baserunners he's been allowing. The staffs on these baseball teams are statistical gurus. They know far more stats on guys than we can possibly keep up with. I guarantee you they are not just thinking, "hey, that guy put in the pen has 34 saves, he's having a penomenal year!" Eric Wedge is well aware of the 9th inning heartburn that he gets. The truth of the matter is, they signed him in the offseason to be the closer, he's a veteran, and they obviously feel he's a better option than Betancourt or they never would have signed him. Borowski has not been good, but what happens if you insert Betancourt at this point in the season and he does rise to the challenge? Now you have lost a dominant setup guy and you've killed the confidence of your closer. It's a mess, but you could potentially make it worse by inserting Betancourt and the INDIANS ARE IN FIRST PLACE.