Explain what the financial crises implied about the

Question

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.