Sunday, May 01, 2005

Another Republican Investment Debacle

Apparently Republican money mis-management doesn't just happen on the municipal and national levels, it happens at the state level as well.

Q: What's stupider than investing $50 million in state pension funds in rare coins?
A: Losing 121 of them.

From the Toledo Blade:

COLUMBUS - The number of missing rare coins purchased with state money controlled by local Republican fund-raiser Tom Noe now totals 121, documents obtained by The Blade show.
The 119 missing coins are in addition to two coins worth $300,000 owned by the state that were lost in the mail in 2003, confirmed Jeremy Jackson, press secretary for the Ohio Bureau of Workers' Compensation.

The state doesn't know what happened to any of the coins, Mr. Jackson said.

The Blade first reported April 3 that since 1998 the bureau has invested $50 million in rare coin funds controlled by Mr. Noe, a local coin dealer and frequent contributor to local, state, and national Republican campaign committees.
I just wish that when Republicans start talking about government being the problem, not the solution, they would make clear they're talking about Republican-run government.

No comments: