Governor Taft's Office has known since October -- just before the election -- that the state lost $225 million in a risky fund according to today's Toledo Blade:
Gov. Bob Taft’s office learned seven months ago — not this week — that the Ohio Bureau of Workers’ Compensation had lost $225 million in a high-risk investment.Now why would this have made national news on October 26, 2004? And why were they hiding it?
In an Oct. 26, 2004, e-mail to Taft aide James Samuel, the bureau’s administrator-CEO, James Conrad, wrote that the “entire value” of the portfolio managed by MDL Capital Management was down about $225 million.
Mr. Conrad also alerted the governor’s office that the bureau had rejected MDL’s request for another $25 million and the firm was in danger of collapsing, which he said would be “likely to make national news.”
Hmm....because it would have created a huge GOP scandal one week before the election? Who knows what would have been dredged up if the Governor's office had told the public about this fiscal mismanagement. And who knows how it would have affected the vote in Ohio.
But, the Governor's office kept it a secret.
The GOP in Ohio is corrupt. It's really that simple.
