DLTQ.org

I have followed with great interest the development of the Norwegian scandal where different counties have been tricked by Terra Securities.

Here is a recent article in English.

First of all, it is interesting that counties are borrowing money to invest.
Then, it is interesting that counties are investing in bonds where they – seemingly – have not full knowledge of what they are investing in. Yes, Terra Securities might have tricked them to some degree, but in the end I think it is up to the counties as well to make sure they have adequate information.

In the end, it is the citizens of these counties that will suffer. The government has stated that they will not step in and aid the counties affected, and Terra Securities has now filed bankruptcy – oh how convenient!!

Stories like this make me SO angry.