"Coingate" hits the Beltway. Will it bring down a President?

[truthteller]

I must say, this scandal has picked up major news press.

 

 

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20050612/SRRARECOINS/306120017

 

 

Tom Noe sighted in Florida. Is that AH in the car?

 

 

 

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20050612/SRRARECOINS/306120018

 

 

 

TRUTH

[Leothelion]

Interesting thought but the President can't know everything about what's going on with his campaign constituents. But then again if it can be proven that he knew about it and went as far as calling the shots, then I'd say, he be in trouble!

 

Leo

[michael]

well the only ones that will suffer will be the coin industry and hopefully this will not happen and coins in general will notbe made the scapegoat

 

only time will tell

[gmarguli]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

[Tradedollarnut]

Where there's smoke there's fire.

[braddick]

Where there's smoke there's fire.

I disagree. Sometimes when there's smoke, there is also a bunch of half naked Survival contestants trying mightily to start a fire with no luck.

 

[truthteller]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

 

Who will be the next Deep Coin Throat? The President's days might me numbered.

 

 

 

 

TRUTH

[gmarguli]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

 

Who will be the next Deep Coin Throat? The President's days might me numbered.

 

TRUTH

 

Based on the level of reporting the Toledo Blade does, I'd say it will be some anonymous internet message board poster where they won't even know his real name.

[truthteller]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

 

Who will be the next Deep Coin Throat? The President's days might me numbered.

 

TRUTH

 

Based on the level of reporting the Toledo Blade does, I'd say it will be some anonymous internet message board poster where they won't even know his real name.

 

True. The Blade does have outstanding news reporting. When do you think the impeachment hearings will start?

 

 

TRUTH

[Tradedollarnut]

Impact the President? Nah. But the Blade's stories have already made an impact in the coin biz. A big one.

[gmarguli]

Impact the President? Nah. But the Blade's stories have already made an impact in the coin biz. A big one.

 

Too bad it's been a negative impact based on shoddy biased reporting that will do nothing but hurt the coin dealers in the state of Ohio.

 

A $10M loss is being made out to be the end of the world and threatening the solvency of the Worker's Comp fund...an $18B fund.

[factgiver-migration]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

I agree.

 

 

 

FACT

[cpm9ball]

The President's days might me numbered.

 

 

 

 

TRUTH

 

They are anyway..................1300....1299....1298....1297....

 

Chris

[chinook]

Why would it bring down a President? You do realize you are getting your info from the Toledo Blade - which appears to be a clueless rag looking to start a fire.

 

Who will be the next Deep Coin Throat? The President's days might me numbered.

 

TRUTH

 

Based on the level of reporting the Toledo Blade does, I'd say it will be some anonymous internet message board poster where they won't even know his real name.

 

The paper has already used the quote of a PCGS message board member. Thats in depth reporting.

[bigmoose-migration]

Did anyone check out the article at the bottom of the Toledo Blade story that describes the Ohio State Worker's Compensation Board losing $215 Million last year in a Hedge Fund run by a Pittsburgh group!!! Kinda makes the 12 Million missing from the Rare Coin Fund look pretty small.

[chinook]

$12 million is 8 days interest if the entire fund was invested in bonds yielding just 3%.

[jom]

$12 million is 8 days interest if the entire fund was invested in bonds yielding just 3%.

 

Clearly...it's the end of the world as we know it.

 

But I feel fine....

 

jom

[CTcollector]

I don't think it is fair to the taxpayers of OHIO that we consider a $10-12mm loss immaterial to the entire OSWC asset base. We can't lose sight of the manner in which the coins went missing. Fraud, Greed, Breach of Fiduciary Duty, Thievery - take your pick. Either way it is all very devious and should not be chalked up to rounding on the income statement !

[gmarguli]

You are 100% correct that in the manner the coins went missing is very troubling, but people are making the 10M out to be a major amount of money and threatening the solvency of the fund.

 

To put it in perspective, it's 1/1800th of the value of the fund. If a person making 50K a year lost that much, they'd end up making $49,972 instead. Not exactly a make or break amount.