Thursday, June 09, 2005


I don't know if the state of Ohio has an mechanism to remove a sitting governor, but I think it's about time for him to resign.

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.”

Who wants to guess the number of times CNN has mentioned this story in the past month?