Vaughn Spencer made an interesting comment about Bond Swaps and the cities finances. He told the audience that city council wasn't given all the information that they requested involving the Bond Swaps. Why would you vote to have a swap if you didn't receive all the information to understand the swap?
Dennis Moyer made an excellent point explaining why the outlets moved from the city. It all has to do with crime in the outlet area.
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"Why would you vote to have a swap if you didn't receive all the information to understand the swap?"
Keep that question in your back pocket, since it seems applicable to both Reading, proper, in addition to recent board-member behaviour at the RSD.
RSD's Finance Committe Chair gave Bloomberg an answer that sums up the general financial savvy of most political officials, "I trusted the guy".
The sub-text of that statement is, "I have no critical thinking skills, nor does my education include significant elements of finance or economics".
"One time, I watched a Suze Orman rerun on CNBC. She's hot."
Public entities should not be in the business of betting on the future direction of interest rates nor making ill-qualified decisions.
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