The California Supreme Court ruled on July 16 that grand jury testimony about Merrill Lynch & Co.'s involvement in Orange County's 1994 financial shit storm-the largest municipal bankruptcy in U.S. history-will remain sealed for perhaps another year. Justices granted a hearing on the giant Wall Street brokerage's appeal of a lower-court ruling to allow news […]
Merrill Lynch & Co. Inc.
After three hours of heated testimony from most of the 16 attorneys present, Superior Court Judge David O. Carter reached a decision in one of Orange County's most pressing political cases: time for pizza. The pizza break interrupted a drama that pits District Attorney Michael Capizzi against the public in a battle to unseal secret […]
“It was in everybody's best interest that we reached this resolution,” said a beaming, tie-adjusting Capizzi, who must have been delighted the next morning when the mainstream media applauded the deal. The Los Angeles Times, for example, opined that “Orange County and Merrill Lynch both wound up winners.” In truth, Capizzi let the big boys […]