Municipality of The Hague’s unsustainable investments
June 3, 2008
EUR 150 mln means the municipality has invested 300 euro on behalf of each one of its inhabitants. In times that markets are crashing, I do not want to know how much they sustainable invested, but how much money they lost. What happens with every euro invested: sustainably, or otherwise? They probably will not tell but we are likely find out in the next real estate taxes that they will levy.
Governments already hardly master their key task: governing. I am sure they do not better in investing. Look at their records: The province of Zuid Holland lost 40 million by investing in Ceteco some years ago and Orange County in California went bust because of investments.
Money managers do not complain. Tax payers should
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Municiaplity of the Hague sits next to the music theater. The can perform the Gore Opera there