ECC’s income is linked to the financial performance of the businesses and people living and working in Edinburgh. So ECC have to ensure that global financial meltdowns don’t happen anyway. They just lack the tools to do so. But then so it appears to nation-states and supra-national organisations. So no change there. What they can focus on is working on making Edinburgh a good place to do business or to live so that people live, work and do business here successfully.
I wasn’t thinking of anything more complex than a municipal bond. The only difference is the income stream paying the interest and capital is now partly made up of dividends rather than just all tax receipts.
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timeasmymeasure
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Date: 2013-03-08 01:59 pm (UTC)I wasn’t thinking of anything more complex than a municipal bond. The only difference is the income stream paying the interest and capital is now partly made up of dividends rather than just all tax receipts.