Use CDO money

Gosford Council contemplates raising rates to pay for its grand vision for Gosford.

Now what was that about ratepayers $87 million in American mortgage CDO's being "absolutely safe" ?

If "we haven't lost a cent", why is Gosford Council borrowing money to buy assets and proposing to slug the hapless ratepayer on another ill-conceived investment decision?

Maybe if we all stopped paying our rates, Gosford Council would finally come clean on where this very large chunk of money has gone.

Email, 11 Nov 2011 Warren Cross, Wagstaffe