6.10.2005
Kaptur Alerts Colleagues of Unfolding Scandal (ToledoBlade.com)
Brown says illegalities put presidential election in question
By STEVE EDER
BLADE STAFF WRITER
WASHINGTON - As the word spread Tuesday night that the Ohio Bureau of Workers' Compensation had lost $215 million in a high-risk investment, U.S. Rep. Marcy Kaptur alerted her colleagues to the mounting concerns in her home state.
Miss Kaptur, during a statement on the floor of the U.S. House of Representatives on Tuesday night, said "there is a major political scandal that is unfolding in the state of Ohio."
"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.
Democrats such as Miss Kaptur and U.S. Rep. Sherrod Brown of Lorain say the latest scandals mirror problems in Washington and even call into question the results of the 2004 presidential election.
(More ... toledoblade.com) ¶ 19:05
By STEVE EDER
BLADE STAFF WRITER
WASHINGTON - As the word spread Tuesday night that the Ohio Bureau of Workers' Compensation had lost $215 million in a high-risk investment, U.S. Rep. Marcy Kaptur alerted her colleagues to the mounting concerns in her home state.
Miss Kaptur, during a statement on the floor of the U.S. House of Representatives on Tuesday night, said "there is a major political scandal that is unfolding in the state of Ohio."
"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.
Democrats such as Miss Kaptur and U.S. Rep. Sherrod Brown of Lorain say the latest scandals mirror problems in Washington and even call into question the results of the 2004 presidential election.
(More ... toledoblade.com) ¶ 19:05
