So, check this out. Mr. Lemoine wants a do over for not doing the level of due diligence on this investment that a 5th grader with an internet connection could easily do. If he he simply Googled the investment he was about to make with taxpayer dollars – the state of Maine would be $20 million richer. Lemoine, a former Democrat lawmaker, apparently was not aware of Google’s abilities. It’s too bad he didn’t consult Republican Senator Carol Weston – because when she heard about all of this she did what? Googled – and found warnings dating back to the time the initial investment was made. You’d think the party that invented the internet would know more of its mysterious ways.

AUGUSTA — State Treasurer David Lemoine said Monday that he believes the state will recoup $20 million it invested in corporate bonds backed by subprime mortgage assets.The $20 million — about 3 percent of the state’s investment portfolio — is now frozen.

“We think we will be paid,” Lemoine said. “We think we will be paid in full.”

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