Editor:
Reading School Board President Keith Stamm gets it. City Councilman Jeffrey Waltman gets it. Most of the other board members of various city and county entities that oversee financial and investment decisions do not, as evidenced by the tens of millions of dollars lost in bad investments or at risk("Reading schools pay bank $241,365,"Reading Eagle,Jan 18th).
Too few realize that as fiduciaries it is their obligation to thoroughly understand an investment and have a backup plan if the wheels start to come loose.
I'd bet a fixed against-floating rate swap that no board member can even spell the word derivative.
Robert G. Logan Wyomissing
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1 comment:
It's almost Valentines Day and Love is in the air (or at least in the post).
Is it coincidence that the writers of the letters you referenced are both named Love:
Robert G. Love
and
William H. Love
I agree that you "get it". Just curious if there's more than coincidence behind the letters.
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