The wages of greed: why Orange County gambled on derivatives and lost. (California): An article from: Dollars & Sense

This digital document is an article from Dollars & Sense, published by Economic Affairs Bureau on May 1, 1995. The length of the article is 2435 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Orange County, CA's financial debacle in 1994 arose from its investment in financial instruments known as derivatives as a way to raise income for the state in view of the growing reluctance of the state's rich to pay taxes commensurate to their earnings. The county's financial officials feel betrayed by Merrill Lynch and Co. and other Wall street companies for their advice which was given without complete information on the risks involved.

Citation Details
Title: The wages of greed: why Orange County gambled on derivatives and lost. (California)
Author: Bryan Snyder
Publication:Dollars & Sense (Newsletter)
Date: May 1, 1995
Publisher: Economic Affairs Bureau
Issue: n199 Page: p20(3)

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