Big Bets Gone Bad: Derivatives and Bankruptcy in Orange County. The Largest Municipal Failure in U.S. History

by PhilippeJorion (Author)

• New

  Illustrated
  1995

  $66.45

  In December 1994, Orange County became the largest municipality in US history to become bankrupt. How can a municipal investment pool, which is supposed to be safe, lose billions of dollars? What are derivatives and how did they contribute to this tragedy? This book presents a description of the Orange County bankruptcy.