Web2 days ago · Editor’s Note: John Moorlach rose to fame in 1994 by correctly predicting the problems of the Orange County Treasurer’s Office, which caused the county’s infamous bankruptcy. Moorlach later went on to be elected for more than a quarter century in positions including the OC Treasurer, OC Supervisor and State Senator. A version of this … WebThe Orange County Bankruptcy: Who’s Next? On December 6, 1994, Orange County became the largest municipality in U.S. history to declare bankruptcy: The county treasurer had lost $1.7 billion of taxpayers’ money through investments in risky Wall Street securities. Accustomed to the “New York” model of fiscal stress in older
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