Big Bets Gone Bad: Derivatives and Bankruptcy in Orange County. the Largest Municipal Failure in U.S. History by Philippe Jorion

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

Philippe Jorion

176 pages • first pub 1995 (editions)

nonfiction challenging informative medium-paced
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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? In December 1994, Orange County became the largest municipality in U.S. history to becom...

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