“Why are financially-troubled cities risking money in the stock market?”
Since Congress is exempt from insider trading laws, I wouldn’t be surprised if the states’ representatives foward inside info, or at least a current buy list, to the Controllers of the cities.
I say this toungue-and-cheek of course...but who knows?
That said....doesn't stop these crooks from telling their Uncle Monty to buy or sell XXXXX stock...before they "rule" on the company XXXXX...
Apparently Bob Citron, Democrat...was out of the loop. Ha!!!