Orange County
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Bond Crisis Panel: Orange County’s bond crisis--from which losses have so far reached $2.02 billion--continues to draw attention throughout the state. The state Senate Special Committee on Local Government Investment Practices, a special panel set up to investigate the fiasco, meets Monday at the State Capitol in Sacramento. The committee will review how the debacle occurred and whether other California local governments face similar crises. It will also look at tightening local investment rules, consider legislation to tighten state oversight, examine whether a bailout is advisable and consider new laws restricting ties between securities firms and local investment officials.
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