Re: biajj
in response to
by
posted on
Apr 13, 2008 04:44AM
I'd like to know, if it was such a prudent investment, do any of the BOD members have their own or their families money in them ? It's about fiduciary responsibility when it's not your money. One other thing I'd like to know, I want to see an independent legal opinion on the authority in our Corporate Charter and Bylaws which allows for this type of investment, and learn from the BOD meeting notes if the BOD was told or enquired about the potential risks involved if the market for them seized up.
I'm sure that the BoD acted on advice that was current at the time of the investment, which no doubt included possible risk warnings as with any and all types of investment.
One has to wonder how many complaints there would have been had the money just been left in a bank account prior to the current 10-Q.
Damned if they do, damned if they don't, and all without the benefit of 20/20 hindsight.
Be well