Friday, October 19, 2007

Breaking News: losing $38 million not a good sign

Posted By on Fri, Oct 19, 2007 at 9:54 AM

The Plain Dealer reports today that the Bureau of Workers' Compensation former chief investment officer "knew he was looking at trouble when a monthly financial report showed that one of the (BWC's) investment managers had lost $38 million -- more than a third of the money it was given to invest." The statement by BWC official James McLean, who was testifying in the federal trial of fund manager Mark D. Lay, shatters the previously held notion that $38 million in losses was "like, you know, kind of a bummer, but no big deal, really." This has been a stunningly revealing news update from C-Notes. We now return you to our shameless attempts to capitalize on the Indians success, accomplished in part by criticizing other news outlets' shameless attempts to capitalize on the Indians' success ...


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