Municipal bonds are traditionally safe investments, but cities and counties across Tennessee, got in financial trouble because they entered the complex world of derivatives.
You don't have to be a sophisticated financial wizard to ask simple questions like "Why is this different? If it is so great, why was it not offered/devised long before now?" or even as simple as "If this new thing saves my town money, and makes money for the person selling/organizing via FEES, well then were does this new savings come from? Who will make LESS money now compared to PAST financial instruments?" Why would you agree to something you didn't FULLY understand?
CaMeRON my dog is better at sex than you
randomnamebecauseimk 2 years ago
This is what happens when you let greedy bankers write the rules.
dackjaniels555 2 years ago 2
Many cities don't even keep their accounting books in order. No wonder our country is in sad shape.
GiovannaNYC 2 years ago
wat is this all supposed to mean?!!?
em0kid654 2 years ago
You don't have to be a sophisticated financial wizard to ask simple questions like "Why is this different? If it is so great, why was it not offered/devised long before now?" or even as simple as "If this new thing saves my town money, and makes money for the person selling/organizing via FEES, well then were does this new savings come from? Who will make LESS money now compared to PAST financial instruments?" Why would you agree to something you didn't FULLY understand?
aichaudh 2 years ago