Human Failings Helped Bring Orange County's Fall, Panelists Say

Saskal, Rich
December 2004
Bond Buyer;12/8/2004, Vol. 350 Issue 32025, p39
Trade Publication
The article focuses on the filing pf the largest municipal bankruptcy case in history, by Orange County, California. A group of politicians, investors, journalists, and analysts whose careers were marked by the crisis gathered to see what was learned. The event at the Richard Nixon Presidential library assembled three discussion panels under the auspices of the Orange County Treasurer's Conference, emceed by the county's treasurer, John M. W. Moorlach. Panelists said they did not expect a repeat of trouble in the county investment pool, given the safeguards built in following the bankruptcy. But they didn't find it hard to imagine that a public finance fiasco of similar proportions could take place again.


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