Orange County offered to give investors in the California county's investment pool 77 percent of their money back.

This was the highest percentage of any California county.

That day, I picked up the paper and the taxpayers in some California county had closed down the schools.

Some other California counties are using hastily introduced new systems, which they had not expected to use until next year's March presidential primary.

The California county contends that the firm sold it risky and unsuitable securities.

The results in five other California counties were even more modest.

It took other special circumstances, however, to put so many California counties in such difficult positions.

Since then it has acquired 4,000 acres of vines and potential vineyard land in 10 California counties.

That figure in the other California counties averages 77 percent.

Rising rates hurt bondholders - and a California county.