"You should assume you've already lost a significant amount of that $80 million," said Michael Ehrlich, a SIV expert at the New Jersey Institute of Technology in Newark. "Right now, you're stuck."
But county Treasurer Chriss Street said, "I still think the county will get all its money back."
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On Feb. 20, just three weeks after promising a bailout for Whistlejacket, Standard Chartered abandoned it. The big SIV stopped paying investors.
"Standard Chartered is a large and respected bank," said Ehrlich. "What do they know that we don't know? That's a hugely negative signal."
3.15.2008
The OC: SIV positive
Robert Citron, meet Chriss Street:
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