MDL's fees to Ohio fund are double what was reported previously

[RamboLiberal]

http://www.post-gazette.com/pg/05169/523791.stm

In the course of losing $215 million in a hedge fund for the Ohio Bureau of Workers' Compensation, MDL Capital Management withdrew even more money in fees than previously reported -- $1.69 million, according to state records.

The amount of fees paid to the Pittsburgh-based investment firm is substantially higher than earlier bureau reports of approximately $700,000 and later $1.01 million in fees. All told, MDL received $2.14 million from the bureau in 2004.

State officials in Ohio were caught off-guard yesterday when asked about the hedge fund fees, which were missing from earlier disclosures of payments to MDL.

"It was our understanding that all payments to MDL came from an invoice sent to the bureau," said Jeremy Jackson, the bureau's press secretary.

[Erika]

1. Corporatism and corrupt capitalism in action

Bush's America.

[Robbien]

2. The standard GOP defense, don't ask me

its some other guy responsible for that. This situation in Ohio has been going on for two months. One would be an idiot to believe that everyone involved do not know everything involved in the case.

So Ohio paid MDL $2.14 million to lose $215 million for them and no one in state government bats an eye.

[struggle4progress]

3. "Ohio Republicans: We Don't Only Steal Elections"

[dkofos]

4. I'm betting I could have lost less than 200M

and I would have charged only 2.0M

That's only 10,000 for every million I lost for you.

A real bargain

In the future call FBN Investing

That,s Fly By Night Investing, we'll loose less, Guaranteed

[mbperrin]

5. Or I could have lost more and charged half as much!

"We can get it for you in a hole-sale."

Call me.......