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To: Enigma who wrote (12536)6/2/1998 10:32:00 PM
From: Broken_Clock  Respond to of 116796
 
gold up $1.80 in asia....nice to see it going UP overnight. It has been flat recently....
mrci.com



To: Enigma who wrote (12536)6/3/1998 12:10:00 AM
From: PaulM  Respond to of 116796
 
Merrill Settles for $400 mill on Orange County Bankruptcy

biz.yahoo.com

If I recall correctly, this was the subject of "FIASCO: Blood in the Water on Wall Streets"

In a nutshell: Orange County buys lots of financial goodies from Wall Street and makes a big derivative bet on stable interest rates in 1994.
Then everybody sells bonds, tanking treasuries and bankrupting Orange County.