Big Bets Gone Bad
In December 1994, Orange County became the largest municipality in US history to become bankrupt. How can a municipal investment pool, which is supposed to be safe, lose billions of dollars? What are derivatives and how did they contribute to this tragedy? This book presents a description of the Orange County bankruptcy....
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In December 1994, Orange County became the largest municipality in US history to become bankrupt. How can a municipal investment pool, which is supposed to be safe, lose billions of dollars? What are derivatives and how did they contribute to this tragedy? This book presents a description of the Orange County bankruptcy.
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