Just because it is legal that doesn’t mean it is smart!

risk alert-0I believe it is safe to assume that the only people who are prospering from “safe” investments in Detroit, San Bernardino, Stockton, Jefferson County, Central Falls, and many other cities across America are investment brokers, and attorneys. What do these municipalities have in common? Their leaders followed the advice of financial “experts” and made bad decisions. From all accounts these bureaucrats and elected officials acted within the regulatory guidelines.

Just because it is legal that doesn’t mean it is smart!

Right here at home in good ole conservative Parker County we have a “financial expert” (the County Treasurer) who is trying to convince Commissioners Court to approve her ‘Investment Policy’.

I am always skeptical of people who say “I can do things that nobody else can do”.

We have a President who said that and we can see how that turned out!

Narcissism and investments are about as compatible as President Obama and the NRA! When someone says trust me…I don’t.

Our County Treasurer may believe the advice she is giving Commissioners Court, but I am left with a nagging question that will not go away – If she is so skilled at investing, why hasn’t she made millions investing her own money? Or… does she only have enough courage to invest other people’s money?

I consider myself an expert at nothing. But even an ordinary citizen like me can understand – The greater the risk, the greater the profit; conversely – The greater the profit, the greater the risk.

County government is not a ‘for profit’ business.

If our budget is funded, (and it is) why would we even consider risking taxpayers’ money?

2 responses

  1. Senator_Blutarsky

    In uncertain economic times, prudence is the best policy. We live in VERY uncertain economic times , and risk in fiduciary stewardship is not wise.

    ” Brokers” and “investment counselors” always love to gamble with OPM – Other Peoples’ Money.

    Watching the bubble burst 5 years ago, and revisiting the causes, should make any “steward” truly suspect. But reelection campaigns can make one tend to “roll the dice”. Look at the pension obligation, and ask some of the bankrupt cities how that has worked out for them.

    ”Delay is preferable to error.” – Jefferson

  2. The current County Treasurer was not elected. She was appointed by the very people we are working so hard to get rid of for their failure to listen to, and look out for, their constituents. That is reason enough for me to vote for her opponent, which I did as fast as I could get to the polls. Dedra has the right idea–return the surplus to the people you got it from– the taxpayers.

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