San Diego, the next Orange County?
Everyone recalls Orange County's December 1994 bankruptcy. $1.6 Billion of derivative losses caused the largest municipal BK in history. Could San Diego be next?
Apparently they have not released financials for 2003 and 2004 due to an audit. In addition, there is doubt they can meet their municipal pension plan requirements.
Pew, what's that smell, can't you smell that smell, its the smell of derivatives around you....
The Housing Bubble: Will Deficit And Bubble Meet, San Diego?
Orange County Case
Apparently they have not released financials for 2003 and 2004 due to an audit. In addition, there is doubt they can meet their municipal pension plan requirements.
Pew, what's that smell, can't you smell that smell, its the smell of derivatives around you....
The Housing Bubble: Will Deficit And Bubble Meet, San Diego?
Orange County Case
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