BWC investment losses covered up before '04 election

[Schmajo]

8/13/06
http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20060813/NEWS24/608130338

“Less than a week before the 2004 presidential election, Jim Conrad, then head of the Ohio Bureau of Workers' Compensation, took steps to ensure that a $215 million investment loss in an offshore hedge-fund would not become public, documents obtained by The Blade show.

On Oct. 27, 2004 - just six days before President Bush was re-elected after narrowly winning Ohio - Mr. Conrad expressed his concern about a potential ‘leak’ of the losses in an e-mail to John Annarino, then the bureau's chief legal counsel and ethics officer. In the e-mail, Mr. Conrad advised how Mr. Annarino and James McLean, then the bureau's investment director, should manage the agency's investment staff to keep the potentially explosive losses under wraps.

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The allegation that high-ranking bureau officials covered up the MDL hedge-fund loss has emerged in the state's civil lawsuit seeking to recover the $215 million investment loss. That lawsuit is pending in federal court in Columbus. In a motion filed last month requesting that the lawsuit be dismissed, attorneys representing Mark D. Lay of MDL Capital Management accused state officials of ‘covering up the bureau's investments and investment losses in 2004 just before a presidential election.’

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Mr. Taft, who served as the Ohio co-chairman of the 2004 Bush-Cheney campaign, has said he didn't know the extent of the MDL hedge-fund loss until early June, 2005. Mark Rickel, a spokesman for Mr. Taft, referred to the allegation of a cover-up before the 2004 election as ‘absurd.’
***”

No Republican on OUR administration would do that! :eyes:

[geiger]

1. The luckiest man in Ohio?

George Voinovich, who was Governor, in the Beginning....

[rrasile]

2. BWC game

Isn't this called a conspiracy. Shouldn't the AG be looking into this. Oh shit, I forgot he's a frigging Republican also. How about after we clean house, will it be to late.