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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (453713)	2/3/2009 2:01:10 PM
From: Wharf Rat	2 Recommendations Read Replies (1) \| Respond to of 1576628

"Locally in Orange County, we're doing just fine....but isn't it amazing what you can accomplish with just a little bit of money and a little bit of accountability?" Yup... When Government Fails: The Orange County Bankruptcy*A Policy Summary1. Introduction On December 6th, 1994, Orange County California became the largest municipality in U.S. history ever to file for bankruptcy. The financial difficulties leading to the bankruptcy were the direct result of an enormous gamble with public funds taken by a county treasurer who was seriously under-qualified to deal in the kinds of investments he chose. Because of his shortcomings, because of Orange County's national reputation as a land of rich, spoiled, archconservatives, and because the bankruptcy did not play out as other municipal financial crises have, many observers have dismissed it as an anomaly. It may have been a nasty surprise for Wall Street, they argue, but it is not something that is likely to happen again, even in Orange County 209.85.173.132