Where the money came from for the City of Greensboro funded TV sitcom and what a fiduciary is supposed to do

Looks like the money came from taking worse care of Greensboro's vehicles;


fi•du•ci•ar•y –

"A Financial Advisor held to a Fiduciary Standard occupies a position of special trust and confidence when working with a client. As a fiduciary, the Financial Advisor is required to act with undivided loyalty to the client.
Are City Council Member's clients the city's residents?

..."Prudent Man Rule – A fiduciary must act “with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity” would act. This rule is derived from the common law of trusts.

This is an objective standard based upon how a person with experience and knowledge of a certain area would act in a given situation."

29 U.S.C. §1104 (a)(1)(B)

How did the Council Members act in a situation in which they provided a subordinated loan on a residential property to finance a "speculative TV sitcom with everyone else's money?
"Fiduciaries have important responsibilities and are subject to standards of conduct because they act on behalf of participants...  These responsibilities include: Acting solely in the interest of participants and their beneficiaries and with the exclusive purpose of providing benefits to them;

Carrying out their duties prudently; ...The duty to act prudently is one of a fiduciary’s central responsibilities... ...With these fiduciary responsibilities, there is also potential liability..."


How did Greensboro's City Council not violate the Prudent Man Rule and the fiduciary duty to Greensboro's taxpayers by approving a speculative loan with everyone else's money?

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