Financial Crisis Analysis

Analyze the cases presented in chapter 8 of the text, Looking Back for Future Lessons: Some Important Cases, located on pages 311-316.

Provide brief summaries, 200-250 words each, of the New York City and Orange County cases.

Explain how the New York City and Orange County financial crises impacted:

1. Each      government
2. Other      local governments
3. The      bond market, including prospectus requirements

Explain what the financial crises implied about the operational and/or capital budgeting processes in each case.

Explain what government can do to anticipate and remedy financial crisis. Apply these actions to each of the cases.