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The situation in Orange County isn't comparable to Puerto Rico. OC bought derivatives for leverage and wiped out their pension fund. Unlike PR, OC is generall
by mobilefriendly 9y ago
The situation in Orange County isn't comparable to Puerto Rico. OC bought derivatives for leverage and wiped out their pension fund. Unlike PR, OC is generally well managed and has a vibrant private sector economy. The courts also forced OC to repay most of the defaulted money.