So the County Council's Cabinet has voted to convert a loan with Bluestone, into shares.
Having seen my HBOS shares collapse into virtually nothing, in what I considered to be one of the strongest Building Societies (Halifax), I find this to be a risky decision.
I am not inferring anything untoward Bluestone, but whilst Council's invest their money to gain interest, is investing in shares any different to going into Corals and putting £2m on the 3.15 at Ffos Las?
If they have this money and can afford to gamble it, surely they have a right to return it if they have TOO much money, as its the Council Tax payers money after all, and not for them to gamble.
No doubt we will be asked to fork out a Council Tax increase from April 2010, at a time that they are gambling with our money already.
Has anyone got the telephone number for Gamblers Anonymous?
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