Link:
http://www.pnionline.com/dnblog/attytood/archives/001992.htmlSnip: <Ex-George H.W. Bush aide was once key player in firm tied to Ohio
scandal
Well-known Philadelphia conservative pundit Joe Watkins -- a former
aide to ex-President George H.W. Bush as well as Dan Quayle -- was
managing director in the 1990s and early 2000s of the firm now
wrapped up in a fast-growing GOP political scandal.
Watkins, a frequent guest on CNN and other cable networks, was a
managing director and principal of MDL Capital Management when it
first started doing business with Ohio in 1998. But he reportedly
left shortly before 2003, when Ohio officials teamed up with MDL on
a new hedge fund investment that lost a whopping $225 million in
workers' compensation funds.
The massive hedge fund loss is the newest tentacle of the scandal
that's become known as "Coingate," because the workers' fund may be
missing $10-12 million in assets in an investment with a rare coin
dealer. The dealer, Tom Noe, also is a key GOP figure and major
fundraiser for President Bush in Ohio, the state that narrowly gave
him the final 20 electoral votes for his narrow re-election.
Watkins was the managing director and a principal of MDL Capital
after 1995 -- when it bought another investment firm that the
Philadelphian was working for -- and left some time prior to March
2003, based on news accounts. In 1998, Ohio's worker compensation
fund invested $355 million in a long-bond fund with MDL Capital.>