By Chriss Street, includes “… But despite bankers, lawyers, and accountants paying $750 million for allegedly aiding OC risky taking, ‘AA’ credit-rated California has not filed audited financials and is using leveraged borrowing to offset its $60-billion shortfall. … In spite of over one third of California's budget coming from the federal government, the state defaulted by not filing its Fiscal Year 2017–2018 CAFR until June 2019. … (Note: California’s CAFR for the year ended June 30, 2019 has yet to appear)