Very interesting night at some Council committee meetings last night. The Finance and Administration committee is fascinating. It would appear that the Council has something like $3 million of investments on their books which could probably be best described as "junk bonds".
Like a lot of Australian councils they bought some dubious investments and as maturity approaches we will find out how bad the situation is for our finances. But who made the decisions and how did the Councillors get on board.
Don't get me wrong, this stuff is complicated so we all need to ask questions and I certainly don't pretend that I am perfect. Perhaps we would still make the wrong decision but we must try. I have always asked questions when I don't understand. What do you do?
Make a comment or ask me a question. I'll try to answer.
No comments:
Post a Comment