Also, people forget the back story on this one.

Floyd agreed to fight Margarito, but not in the summer because he had hurt his hand in April fighting Zab Judah and needed time to heal. Bob Arum said "no, I have an event already planned and a date already booked, so it has to be August 12th or it's nothing at all". Floyd said no, that wasn't enough time to heal his hand and get ready, so Arum booked Rahman/Oleg Maskaev rematch for that date instead, Marg signed on to fight Clottey and Floyd took the easy fight against Baldomir (who, despite being a very average fighter, was actually the #1 undisputed WW champion at the time by upsetting Zab). It was what it was. It was an easy fight that Baldomir had no chance of winning, and it allowed Floyd to make 8 million, slip into the #1 WW champ spot with very little effort, and bide his time waiting for the big De La Hoya fight.