Beyond the DeLay effect, there comes the Noe effect currently haunting Ohio Republicans. Tom Noe, a big time GOP contributor, was given the task of investing $50 million in Ohio State's Workers comp funds in... get this... rare coins. Not that investing in rare coins isn't risky in its own part, but now there is $10-13 million of the funds missing. Where did it all go? A good chunk of it appears to have been laundered into GOP campaign coffers. It appears that, to get around the $2000 cap on donations, Noe gave money to friends so they could turn around and donate it to the various election campaigns. Noe was one of Bush's Pioneers, raising between $100,000 and $250,000 for the Presidents re-election.
The recipients range from local GOP officials, such as the Ohio Governor, to far away GOPers, like Arnold Schwarzenegger ($10,000), to Bush himself (over $100,000). Arnold is refusing to return any of the funds, but Bush is being a little nice and returning $4000 of the over $100,000 raised by Noe.
So, what do the GOPers do when their donations come from illegally funneled state funds? Do they return it to the state where it belongs? No, they donate it to charity where it can be written off. So, not only was the taxpayer's money laundered in the first place, it still won't be returned now the crime has been uncovered. Instead, the politicians who took the illegal money will get a nice little plack from which ever charity they donated it to and look like a hero.
Bush to give back $4,000 in Noe cash; Dems want GOP to return over $100,000
Noe fallout taints early candidates to succeed Taft; Democrats take aim at GOP trio
California governor will not return Noe's donations
Local GOP struggles with issue of Noe's donations