What Went Wrong? The California Senate Special Committee on Local Government Investment will hold its third public hearing Thursday on the collapse of the Orange County investment pool. Former county Treasurer Robert L. Citron gave his first public testimony on the bankruptcy at the committee's hearing last month in Sacramento. Citron depicted himself as an unsophisticated investor who got in over his head doing business with Wall Street brokers. "The theme of this hearing will focus on the apparent breakdown of local government accountability at virtually every turn in the process," said state Sen. William A. Craven (R-Oceanside), committee co-chairman. The session is set to begin at 9 a.m at the Capitol.
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