Workers' comp bureau concealed $215M loss; Taft, Petro knew about fund's woes many months ago

So what your saying is there isn’t a straight player in the whole game. There are no corporate pensions, no state pensions, nothing. We are surrounded by criminals. Why? Why destroy peoples lives like this? Between politicians, priests, and executives the only honest people in the game are the criminals.

COLUMBUS — Democrats were screaming “cover-up” yesterday after state officials admitted that a high-risk hedge fund that the embattled Ohio Bureau of Workers’ Compensation had invested in had lost $215 million in just a few months last year.
The bureau acknowledged that the fund, managed by a Pittsburgh-based investment firm, lost the money between February and September, 2004. MDL Capital Management relinquished control of the fund in November. Although the bureau has known about the losses since September, it wasn’t revealed until yesterday, a day after The Blade began making calls upon learning that state investigators had uncovered huge losses at the bureau. A spokeman for Gov. Bob Taft said last night that Mr. Taft had been told in September that there was an investment loss at the bureau — a loss of $10 million to $20 million.

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