DUTY BOUND
The Nelson City council has stated in writing that it has neither sought nor received any advice or reports on its mortgage holiday decision.
All boards of governance are legally, and duty bound, to seek all the advice and information necessary, to properly and fully inform themselves, before taking any decision, on any matter, outside of their own expertise or cognisance.
That precautionary best practice is an absolute duty, particularly when member's funds, and liabilities are at risk.
Disregard of those fundamenatal fiduciary duties and best practice obligations, whether by omission or comission, is by definition imprudent, negligent, and reckless.
This council mortgage holiday decision flies in the face of the collective wisdom of economic experts, and without the production of any credible advice to the contrary, must be regarded as entirely arbitrary, whimsical, and ill-informed
About Me
- pinocchio
- This blogspot is born out of a deep democratic concern about the continual political spin and the outright manipulation and suppression of information by local government and local media. In my view that rampant disinformation has become so extreme that it can only be considered grossly deceptive. This blogspot attempts to provide some balancing transparency to that situation. Hopefully it might even help keep the "buggers" honest.