"SIV 's" US State /Local Governments going broke.
User ID: 337313
12/12/2007 08:28 AM
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It should be recalled that in 1994, Orange County became the first County in 60 years to go bankrupt, when its portfolio of derivatives exploded, losing $1.6 billion. It shut down critical services across the board. This may soon be in the offing again.Quoting: D-Day is close. 339026
Yet the county is still operating and collecting garbage, 13 years later.
Don't you think the article is really a bunch of fear-mongering?
Don't you realize that due to the recent realestate bubble that on the average counties are flush with increased tax money, and are in a better position then they have been in years?
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