Lessons learned from 1994 county bankruptcy

Former Orange County treasurer Robert L. Citron sits in court on Tuesday, Nov. 19, 1996 in Santa Ana, California after he was sentenced to a year in county jail and a $100,000 fine for defrauding investors in the years before the county collapsed in the nation's biggest municipal bankruptcy at the time. History will note that July 2017 closes the penultimate chapter of the Orange County bankruptcy.