(Coingate)Consultant: Bureau must recompute 10-year investment history

[Algorem]

http://www.cleveland.com/newsflash/cleveland/index.ssf?/base/news-18/1121786414149900.xml&storylist=cleveland

7/19/2005, 4:50 p.m. ET
By CARRIE SPENCER
The Associated Press

COLUMBUS, Ohio (AP) — ...

The agency hired the Cleveland-based consultant to review its entire investment operation after it learned up to $13 million in investments in rare coins was missing. The state has since found the bureau's losses in various investments, including some where fund managers went beyond contract limitations, top $300 million.

After Ennis finished his report, there was stunned silence in the room for about 15 seconds, broken by the commission chairman who asked Ennis if he was finished.

"It is a shocking piece of information," said Sen. Eric Fingerhut, a Cleveland Democrat among three lawmakers who are nonvoting commission members. He and Sen. Jay Hottinger, a Newark Republican, were appointed to the panel this year.

Both have complained from the beginning that the staff's quarterly reports to the commission on investment performance are too short and lack detail...

[roguevalley]

1. If this doesn't do it, I don't know what will. Executive privilege my

behind. Impeach Taft.

[WhiteTara]

5. Sounds as though Taft needs to be jailed

and all his assets confiscated. He'll probably blubber like Ebbers, but life in prison would be a good deterrent punishment.

[shraby]

2. Maybe Ohio should start looking at

it's other funds and see if they're in order.

[cmd]

3. "stunned silence in the room"

Those Republican bad apples just keep rotting away.

[cmd]

4. Kicking