Ohio's CoingateGovernor Knew About the Problem and Didn't Tell and the Folks Behind it Funneled Big Money to Bush

From the Toledo Blade who has been doing excellent reporting on this matter throughout. Go read the whole thing. It's fascinating.

"The governor of our state has permitted millions and millions of dollars of workers' money from the Ohio Worker's Compensation Fund to be invested in high-risk investments," Miss Kaptur said in a statement that was placed on the congressional record.

Her accusations came just hours after the bureau acknowledged that it lost $215 million in a high-risk fund run by Pittsburgh businessman Mark D. Lay, who has contributed to Gov. Bob Taft's campaign, and other candidates, including some Democrats. The governor's office was notified of the loss last October, but a spokesman for Mr. Taft said yesterday he was not made aware of the concerns.

The $215 million loss - coupled with a failed $50 million rare-coin investment with Tom Noe, a prominent Republican campaign contributor - have given Democrats political ammunition against the GOP, which has dominated state government for years.

[snip]

Mr. Noe, whose attorneys told authorities two weeks ago that $10 million to $12 million of the state's assets were missing from the coin fund, is facing multiple investigations, including a federal probe into whether he laundered money into President Bush's re-election campaign. The Republican contributor was considered a Bush "pioneer" because he raised at least $100,000 for Mr. Bush's campaign.

[snip]

"I think the George Bush campaign raised a lot of illegal money in Ohio," Mr. Brown said. "That puts the election in some question. I know these people stop at nothing and I know their incompetence kept a significant number of people from getting to vote."