Democrats Eye Unfolding Ohio Coin Scandal - Newsweek

[rndmprsn]

http://www.newsday.com/news/nationworld/nation/wire/sns-ap-coin-politics,0,4921497.story?coll=sns-ap-nation-headlines

TOLEDO, Ohio -- A disastrous investment by the state in rare coins has erupted into both a financial and political scandal, with Ohio's Republicans running for cover and the Democrats seeing great opportunity.

At least $10 million is feared missing from a $55 million fund that the Ohio Workers' Compensation Bureau set up in a risky and highly unorthodox foray into the buying and selling of coins. The investment was managed by coin dealer Tom Noe, a prodigious fundraiser who has showered contributions on Republicans in Ohio and beyond.

In the past few weeks, a slew of Republicans, including President Bush and Gov. Bob Taft, have moved quickly to distance themselves from Noe by returning more than $100,000 in donations.

The Democrats have seized on the scandal, hoping it will enable them to break the GOP's decade-long grip on Ohio state government next year and even help them retake the White House in 2008.

"It's an example of the arrogance of power that comes with one-party rule," said Columbus Mayor Michael Coleman, one of two Democrats running in 2006 to succeed Taft, who cannot seek a third term. "It reinforces the need for change in Ohio."

[marmar]

1. You can only do so much dirt...

before it starts to cave in on you. Republicans in Ohio are the posterchildren for the Republican Party in America right now - unchecked greed and lust for power.
This couldn't happen to a nicer bunch. May they choke on those coins!

:nopity:

[Peachhead22]

2. A "disasterous investment"?

More like a blatant fraud. Or would you classify that as one of the biggest burglaries in U.S. history or merely a massive embezzlement? Some people should be doing major jail time starting damn soon. It isn't just mismanagement, it's numerous felonies.

[sam sarrha]

3. looks like the money from lost coins ended up repug canpaign contributions

to george Bu$h and his Minions