EASTERBROOK, Circuit Judge.
Associated Randall Bank, a financial institution chartered by Wisconsin, frequently invested in bonds issued by state and local governments. Between the mid 1970s and 1987 it relied on advice furnished by James Kubik. Since 1980 Kubik has been a principal of Griffin, Kubik, Stephens & Thompson, Inc., a broker-dealer specializing in municipal securities. Although James Fiore, the Bank's president, retained ultimate authority over investment...
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