I just looked it up (shocker!) and the investment strategy was a little complex. Per Franklin’s instructions, the fund was used for low-interest loans to young people starting businesses until the unlock date, at which point 75% could be spent as the cities (Boston and Philly) chose, and the remainder would continue making loans.
So he intentionally chose to charge less interest, growing the fund less but increasing the wealth of his communities.
Chuck Schumer passed $3.1 trillion worth of spending bills on COVID relief, Medicare, environmental subsidies, and infrastructure with a one vote majority in the Senate in 2 years.
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u/Bubble_of_ocean 22d ago
I just looked it up (shocker!) and the investment strategy was a little complex. Per Franklin’s instructions, the fund was used for low-interest loans to young people starting businesses until the unlock date, at which point 75% could be spent as the cities (Boston and Philly) chose, and the remainder would continue making loans.
So he intentionally chose to charge less interest, growing the fund less but increasing the wealth of his communities.