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Lehman Bros. Bankruptcy May Affect Tuolumne County

Sonora, CA — According to Tuolumne County Treasurer and Tax Collector Del Hodges Tuolumne County had $2 million invested in Lehman Bros. which declared bankruptcy over the weekend.

Hodges has stated that he could have sold the county´s interests for $.25 on the dollar but it was recommended to him by several parties including former County Investment Advisor Dan Calabrasi of CSAC-EIA that Tuolumne County hold on to the bonds and see what develops with the bankruptcy settlement.

Hodges mentioned that CSAC-EIA also has investments with Lehman Bros.

Written by Bill Johnson