OHIO INVESTMENT SCANDAL Taft's office told in October about $225 million loss - toledoblade.com

toledoblade.com:

"COLUMBUS — 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.

Mr. Conrad also alerted the governor’s office that the bureau had rejected MDL’s request for another $25 million and the firm was in danger of collapsing, which he said would be “likely to make national news.”"