Bankruptcy-era broker Merrill Lynch embraced
From Times Staff and Wire Reports
Orange County on Tuesday fully restored its relationship with Merrill Lynch & Co., the brokerage house blamed in part for the county’s 1994 bankruptcy, as the Board of Supervisors adopted a list of financial service providers that included the firm.
Merrill was barred from county business after the bankruptcy, caused by the collapse of risky investments that Merrill had sold. In recent years, the company gradually regained the county’s trust.
Supervisor Tom Wilson opposed Tuesday’s move, saying Merrill “almost permanently damaged the County of Orange.”
