Many of coins in (Noe's Ohio coin) fund ‘ordinary’

[Robbien]

The coins in the state investment fund formerly managed by Thomas W. Noe ranged from a 1792 half-dime reportedly made from George Washington’s old silver and priced at $1.2 million to a blank penny priced at $1, records released last night show.

Noe had been fighting to keep the details about coins in the inventory secret on the ground that they constituted a "trade secret" that could cause the coins to lose value if the information became public.

But after The Dispatch and other groups sued for the records in the Ohio Supreme Court, the Ohio Bureau of Workers’ Compensation released the records from 2004 yesterday. Officials concluded that the "trade secret" argument "has been greatly diminished" by reports of missing assets and other problems.

The records show that although there were several very rare coins in the inventory, the bulk of the collection consisted of ordinary coins, according to Christopher Dunson, an Upper Arlington coin dealer who reviewed them briefly for The Dispatch. And it’s difficult to say whether the purchase prices listed for the coins were reasonable because many of the higherpriced coins — including the 1792 half-dime — are worth whatever someone will pay for them at auction, Dunson said.

http://www.columbusdispatch.com/topstory.php?story=dispatch/2005/05/28/20050528-A4-05.html

and in this article

http://toledoblade.com/apps/pbcs.dll/article?AID=/20050528/NEWS24/50528004

A law enforcement source said this week’s searches at Mr. Noe’s coin shop in Monclova Township revealed records of questionable coin transactions, a law enforcement source said. One of them involved a coin purchased for more than $100,000 that was later sold for less than a dollar.

. . .

Mr. Taft denied yesterday that Mr. Noe had ever “informed me or to my knowledge, any member of my senior staff “ about his state contract with the Ohio Bureau of Workers’ Compensation.

In response to a question, Mr. Taft said he had visited Mr. Noe’s coin shop in Monclova Township, where authorities executed a search warrant Thursday. The governor said he didn’t know how many times he had visited the coin shop and when asked why he went there, Mr. Taft replied: “Just a visit.” An aide to Mr. Taft said he didn’t have any dates of when Mr. Taft dropped by Vintage Coins & Collectibles.

Asked if he and his high-ranking staff members solicited Mr. Noe to raise campaign contributions for President Bush’s re-election and the Republican Governors Association, Mr. Taft replied: “I’m sure we did.”

[acmavm]

1. The only thing that I can see that measures up to the republican's

tendency to dishonesty is their brain-dead incompetence. The transparency of their scams is so apparent that the only thing that makes any of this humorous are the lies they tell to justify their actions. And the fact that they really believe that we are ignorant enough not to see the truth.

I have a pet theory involving the human race and devolution. These mouth breathing, knuckle dragging, sticky fingered numbskulls are validation of that theory.

[cliss]

2. Trade secret......isn't that novel?

Mr. Noe won't divulge the coins in the inventory because it might "cause the coins to lose value if the information became public".

Well, he's telling the truth there! The public found out that a coin which was purchased for $100,000 turned out to be worth only $1.00.

I'd say that's a drastic loss in value.

[TahitiNut]

9. All his assets should be siezed to cover that 'value.'

Fucking thieves!

[benddem]

11. Perhaps rather than a

99,999.00 loss in value it was money paid to someone as a bribe or to give them money to make political contributions. I hope this guy and all his buddies go to jail.

[converted_democrat]

14. Could be, or

to pay of someone who stole the election.....

[bpilgrim]

15. not in most businesses...

just like the code that alledgedly counts our votes.

he'll probably get a lot of sympathy from his fat cat friends worrying if they'll be next... kenny-boyz number must be a hot commodity in certain circles ;->

but we got our own true believers on our side, too or as the DLC would say, 'if you can't beat'm JOIN'm'


http://images.globalfreepress.com

peace

[struggle4progress]

3. I've got a 1984 Lincoln-head penny that I'd be pleased to sell ..

.. to the state of Ohio for $10,000. What the hell! I'd even throw in my 1985 Lincoln-head for free. And I've got a real pretty 2003: they don't make those anymore, y'know ...

[Richard Steele]

10. Bwaa HaaaaHaaaaa!!!!!!

"They don't make those anymore, y'know....":rofl:

[Stanchetalarooni]

4. Every Capitalist nation's trade secret revealed here:

Pyramid Scheme. Bulging at the bottom and ready to bust.

[femmecahors]

5. Golly . . .

so many great Republican scandals going on at the moment . . . Spokane's Mayor, Tom Delay, Coingate . . .it almost makes me think twice about moving permanently to France Wednesday and missing the impending implosion . . .can Jeb be far behind?

[the other one]

6. putting this thing together

This is getting very deep. Did Noe give kickbacks to high-ranking republicans? Is Blackwell involved? Does this in any way touch the Ohio election? Is this the wedge that lets us pry this open? This may be our opening. Five republican justices recused themselves from this case, and they were replaced by three democrats and two republicans. Depending on how much latitude is given prosecutors, this case can be used as a fishing expedition to root out the entire corrupt republican party in Ohio. And then Diebold. And then...The WORLD! Sorry, I got a little excited.

[TripleD]

7. Don't get your hopes up

According to the Toledo Blade:

And Secretary of State J. Kenneth Blackwell called on the Public Integrity Section of the U.S. Department of Justice to take control of the investigation into Mr. Noe’s alleged misappropriation.

“The Justice Department’s involvement will eliminate the potential of any conflicts of interest,” Mr. Blackwell said in a written statement.

[Robbien]

8. A little excitement from newbies is refreshing

Welcome to DU other one.

There is a lot of discussion on this issue over in the General Discussion Politics forum. The possibilities of ending some of the graft appear to be in this case.

[priller]

12. Another allegation is really juicy

Read on another blog, quoting from a previous Blade article, that investigators are suspicious that much of Mr. Noe's "pioneer" contribution money to Bush may have come from funds he siphoned off the coin investment. Meaning that the coin investment may have been intended as a way to launder public pension money and divert it to GOP campaigns.

That's some juicy corruption. Looks like Tom DeLay has met his match here.

[hadrons]

13. ‘ordinary’ is higher praise than Ohio Repukes deserve

[TheGunslinger]

16. Any wooden nickels in there?