ORANGE COUNTY IN BANKRUPTCY : BOND TICKER : Some Dis-Assembly Required
Given the rush to solve Orange County’s fiscal dilemma, more than a few people were surprised when the state Legislature took virtually no action Friday when it convened a special session on the county bankruptcy.
The reason--politics and Assembly Speaker Willie Brown. As part of the special session, officers are elected to preside, including a new Speaker. Brown, who captured the Assembly speakership last month by a scant one-vote margin, didn’t have enough Democrats in town last Friday to retain his post during the special session.
So the Speaker put off the vote until this Thursday, when Capitol insiders expect the Democrats to be out in full force.
--Complied by Shelby Grad, with Matt Lait and Eric Bailey.
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