They (residents) should thank the Town Council for working hard to come up with a diversified portfolio to generate income so that residents do not have to fork out more money.
The Town Councils did not foresee the financial tsunami and its impact on complex structured products.
It’s not just town councils, but individuals and corporations who have been hurt by this economic crisis.
We have to be realistic. It’s easier to say things with hindsight, but it’s not so straightforward.