Investments: Making Dollars and Sense for Cities
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The schedule “Investments and Returns” provided very interesting information (Feb. 2). It’s hard to believe the cities of Industry and Rosemead don’t know what the return is. They represent a quarter billion dollars and more than 27% of the 30-city investment fund. If it’s true, then it’s time to call in the auditors.
Based on what happened in Orange County, no one should take it for granted that city treasurers know what they’re doing. Especially if they don’t know what their portfolio is producing.
ROBERT WHITNEY
Monterey Park
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