Sometimes the Way Up Is Down
Sometimes the way up is down. John Moorlach learned that lesson.
In June of 1994, he ran against incumbent Robert L. Citron for the post of treasurer of Orange County, California. During the campaign, Moorlach condemned Citrons risky investments. At the time, Moorlachs warnings were written off as campaign rhetoric, and Citron won his seventh four-year term by a 3-2 vote ratio.
When Citrons investment of county funds suffered severe losses and Orange County went bankrupt, Moorlach sounded like a prophet. The man who had lost the election was unanimously appointed by the Orange County Board of Supervisors to serve as treasurer.