08 March 2006

Grand Jury Investigates Coingate

A key element of the investigation is allegations that Terrence Gasper, the Bureau of Workers' Compensation's former chief financial officer, had a handwritten list that specified how much each firm was to receive in commissions for stock trades, sources familiar with the investigation in Cleveland told the newspaper.

The commissions totaled about $15 million for 25 to 30 firms with each broker getting up to about $750,000, a source with a copy of the list told the newspaper.

As I have stated before, GOP fiscal policy is essentially based on the view that government exists to subsidize private interests who support the party. In this case, $750,000 of taxpayer money for each broker. Government corruption: good work if you can get it!


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