Noe is threatening Taft - and I, for one, think it is significant.

[salin]

Today's News:
Noe tells Taft: Take back claim of hidden deal
Coin dealer sends e-mail to governor


By JAMES DREW
and STEVE EDER
BLADE STAFF WRITERS


COLUMBUS - Tom Noe yesterday asked Gov. Bob Taft to issue a public statement correcting his accusation Thursday that Mr. Noe "made a great effort to conceal" his role in the state's $50 million investment in rare coins.


If Mr. Taft does not acknowledge that he made a "simple mistake," then Mr. Noe "will help people to understand that it was incorrect," said Mr. Noe's attorney, William Wilkinson.

...more: http://toledoblade.com/apps/pbcs.dll/article?AID=/20050821/NEWS24/508210419

Please note - the time of the alleged discussion was Mid May, 2001; The additional 25 million investment in coins happened... in June 2001.

Read this article from last weekend to see the extreme lengths folks in the BWC went to protect and "help" Noe

Coins were BWC darling in spite of financial warts

CHRISTOPHER D. KIRKPATRICK and JOSHUA BOAK
BLADE STAFF WRITERS


COLUMBUS - If publicly traded, Tom Noe's Capital Coin Fund Limited would have been downgraded by Wall Street in 2001, and investors might have cashed in their coins.


Instead of fleeing, the Ohio Bureau of Workers' Compensation upgraded its position that year and gave the politically connected Republican coin dealer another $25 million.

End-of-year financial statements released by the state last week show the coin fund was not the investment darling bureau representatives claimed and had falling profits that would strike fear in the stoutest Wall Street heart - an 18 percent decline from the end of 1999 to the end of 2001.

---snip---

The financial statements and a slew of internal bureau memos and letters expose a state investment machine that favored the Noes over financial reality. The documents also show a desire by bureau brass to help Mr. Noe survive a critical bureau audit of his first coin fund, even helping him write a letter that would answer the audit's charges.

more (includes detailing the above "help") http://toledoblade.com/apps/pbcs.dll/article?AID=/20050814/NEWS24/508140356

Remember - former Noe friend and political ally Petro has now referred to Noe's actions as a "SlushFund"

There are supposedly a couple of other big funds in Ohio that are allegedly used as "pay to play" funds ... or could they also be slush funds? I think one was transportation - and one was school construction... big blocks of money "managed" by the state, that suddenly appear to be rewards and get rich on taxpayers dime funds for big gop donors - who then donate back.

That said - the wording in today's item - a couched threat to the Governor - sounds like Noe might be considering telling a little bit more to the public per Gov.s role in the second investment in Noe's little fund.

Btw, a oft overlooked part of this story... despite the HUGE losses - there was a planned new 25 million investment that was scheduled to go to Noe this spring... until the Toledo Blade went after this story - and the issue was halted... and then six weeks or so later, Atty Gen Petro decided to investigate.

Oh - in the second article - look at what the official overseeing Noe's fund says per audits and understanding the real and current value of the coin fund... something to the effect of we should just take Tom's word for it.

[donsu]

1. sounds like it - wonder if he has something on Taft

nt

[salin]

4. Sounds like it

not sure why it is so important for him to have taft acknowledge his awareness of the coinfund prior to april - in terms of willing to threaten bigger exposure in order to get taft to make this admission.

I would bet that Noe, who does not appear to be a pillar of integrity, would take this path anyway... try to bargain out of some of his legal troubles by taking down some bigger folks (eg the Pay to Players in Columbus).

Perhaps he is getting surly now that former ally Petro - has gone to court to a) prevent his selling any asset worth more than $5,000 unless he gets a court approval to do so; and b) prevent his liquidation of four business assets...

IMO, Noe is but a small player in what will be a scandal far worse than GOP in Illinois - perhaps even of Tammany Hallesque proportions. It is the story to watch. Especially as it just might mirror some of what has been going on in DC in the DeLay era.

[blm]

8. LOL...almost any Republican donor has something on Taft. He's as corrupt

as they come.

[salin]

10. Can you imagine a better time (the next 12 months) for the lid to comeoff

and expose the HOW TO of slushfund/pay-to-play politics in Ohio? While parallel stories unfold with DeLay and Abramoff?

Way better than the Ryan story in Illinois.

Wish Florida press would push to investigate the performance of the Employee Pension fund ... think: Frantically invested in more and more Enron stock - as it was tanking; think: bought out Edison Schools to reprivatize the company... after it was nearly deslisted on NASDAQ - and with an abysmal track record (a company that since inception in 1996 had only a single quarter of profit by 2003). Oh Jebbie's Florida is such a ripe story.

What is common about the Ohio story and what I suspect is a story in Florida - is it exemplifies in the most simple terms the way the GOP now views public tax-payer dollars - as their own little investment pool to enrich buddies and flow back to the GOP - with NO oversight and NO fiduciary responsibility to the public to manage those dollars.

[bnr65432]

14. taft is skrewed

more dirt is coming up
he still wont resign though

[aquart]

2. A public threat? Who's tasting his food?

Is anything sweeter than watching rats bite each other?

Come on, Noe darling, you don't want to be all alone in that country club they're going to send you to. Bring along your golfing partners.

[sam sarrha]

3. not "Millions" just poker chips for gambling addicts.. nothing more

the whole Wall Street scene is glorified gambling addicts seeking accreditation for their Mental illness..

while we are on the subject of mental illness..the whole Executive cabinet and all that prop them up are mentally ill

Bu$h cant tell the truth about 'what is the Noble Cause' is, Even if there was one,... if he tells just one truth.. all the lies supporting his house of cards will be revealed.. and it will all come crashing down..

[Joanne98]

5. It's every man for himself. Get the popcorn.....

[KoKo]

6. Thanks Salin. Any word on the two huge stories the Ohio Newpaper

reporters were told their paper wouldn't publish because of fear of retribution. That story was out a few weeks ago, and then I never saw anything more about it. I had hoped that someone would contact the reporters and offer to publish their stories for them. A magazine like Harpers or the New Yorker...maybe. Whatever they had seemed to be bigger than even this whole Noe/Taft mess (although that mess is about as bad as it can get.)

Also, there were some Ohio DU'ers who felt the "Toledo Blade" was the only newpaper getting this out to the public and that most Ohioans could care less about the scandals. I wonder if that has changed with the Taft indictments. It's hard to understand folks in Ohio not concerned about where their tax money and Government Employee pensions were going..but I guess it's the "dumbing down" everywhere these days.

[salin]

7. I would guess that it was undoubtedly tied to the bigger story

behind coingate and the BWC pillaging. And I have no doubt that it will eventually comeout.

The item when it ran - was really more about making a statement per Judith Miller vs. Fitzpatrick (eg now they wont run it - becuase they might be forced to reveal sources) - and was a silly one, given that Ohio does have a shield law (I believe.) I can't recall which paper ran that editorial - but I don't think it was the Blade - which has been a forerunner in breaking this story.

[shraby]

9. I think it was the Cleveland Leader.

[KoKo]

11. Somehow maybe when it's all out it will even tie into the 2004 Election...

I guess that's wishful thinking. We never got Florida totally exposed for the average American to understand.

[salin]

12. the degree of pay to play and favoritism in contracts...

I wouldn't be surprised at all. Sleezy Blackwell is currently trying to set himself up as the "ethical" GOP candidate. How is that for a crock given his behavior before and during the election. He is just asking for details coming down on his back per the election - esp if there are any pay to play dimensions to it.

[Copperred]

13. bunch of cattle....