Toledo Blade Reports on the Latest Developments in the Investment Scandal

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For those who don't want to follow the link, here are the highlights:

- Gov. Bob Taft’s office learned seven months ago — not this week — that the Ohio Bureau of Workers’ Compensation had lost $225 million in a high-risk investment.

- In an Oct. 26, 2004, e-mail to Taft aide James Samuel, the bureau’s administrator-CEO, James Conrad, wrote that the “entire value” of the portfolio managed by MDL Capital Management was down about $225 million. Astoundingly, Conrad also reported that the BWC had rejected a request from MDL for an additional $25 million.

- Mark Rickel, the governor’s press secretary, said Mr. Taft did not see Mr. Conrad’s e-mail, was not told about it by Mr. Samuel, and Mr. Conrad did not talk to the governor about it.

- Attorney General Jim Petro yesterday said the bureau “dropped the ball” last October when the agency asked the attorney general’s office to appoint a special counsel to “review the activities” of MDL.

This amazing story continues to gather steam as people attempt to cover their own posteriors and deflect blame upon others.

Later