The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Elroy Jetson who wrote (12655)	8/19/2003 8:18:43 PM
From: JF Quinnelly	Read Replies (2) of 306849

I live in Orange County, and its bankruptcy had nothing to do with Prop 13. The County Treasurer, Robert Citron, illegally diverted funds into some very risky derivative trades, of which he had only the most meager understanding. His position went sour when interest rates rose, and he was convicted on a number of felonies for his part in losing Orange County $1.6 billion. gsm.uci.edu

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