25th June 2018 By Peter Tremayne As MPs prepare to vote on the possible expansion…
County Hall borrows from Peter to repay Paul, ending an £85 million gamble on “inverse floating” loans
By Graham Smith Cornwall Council has become the first local authority in the country to repay “inverse floating” Lender Option Borrower Option loans (LOBOS), clearing an £85m debt portfolio last…
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The most worrying aspect of this is the competence of local authority managers to understand these financial products, one assumes if they did and they knew what they were doing, they would work in the City.