Can I read Orange County Bankruptcy Case Study 1994 on EtoBox?
Orange County Bankruptcy Case Study 1994 by Rohit Aggarwal is a document available to read on EtoBox.
What is Orange County Bankruptcy Case Study 1994 about?
The case of Orange County, California in 1994 led to the bankruptcy of the county. The county treasurer, Robert Citron, incurred $1.6 billion in losses by investing in risky securities while borrowing short-term, betting that interest rates would continue to decline. When rates rose instead, losses mounted. Citron acknowledged he was not as sophisticated an investor as he believed. The county later recovered around $800 million from lawsuits against banks and auditors involved in the risky investments.
- Author
- Rohit Aggarwal
- Language
- EN