Article

2016-12-09 Economy

Dallas Police and Fire Pension Board ends run on the bank, stops $154M in withdrawals

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Posted by Besoeker 2016-12-09 01:00|| || Front Page|| [4 views ] Top

#1 Pension officials and many police and firefighters have blamed Dallas Mayor Mike Rawlings for forcing the latest run on the bank

It's Math Stupid. Someone just said, the can kicking stops here.

Posted by Procopius2k 2016-12-09 07:44|| 2016-12-09 07:44|| Front Page Top

#2 Run toward gunfire.
Run into burning buildings.
Don't run to your bank.

I sense an inequity.

Posted by Skidmark 2016-12-09 13:25|| 2016-12-09 13:25|| Front Page Top

#3 The gods of the copybook headings. They kept making deals, which were promises, then did nothing to ensure that the promises could be kept. They were warned repeatedly over recent decades that the promises could not be kept, given that not enough money has been put into the funds, and that the returns were not nearly as high as expected. Now the promises won't be kept, which is terribly unfair to those who believed the lying politicians and the lying union leaders.

Posted by trailing wife 2016-12-09 13:37|| 2016-12-09 13:37|| Front Page Top

#4 Also local charges of mismanagement, which is another way of looking at 'returns not as high as expected.'

Posted by Bobby 2016-12-09 13:48|| 2016-12-09 13:48|| Front Page Top

#5 Coming soon to a great many publicly sponsored pension funds near you. Promises were made and obligations undertaken, that will prove impossible to honor.

Posted by Anguper Hupomosing9418 2016-12-09 22:01|| 2016-12-09 22:01|| Front Page Top

#6 Isnt Dallas proper one of the Dem areas of Texas, surrounded by lots of Republican counties and small Republican cities? If so, that explains a lot.

Posted by Injun Bucket8891 2016-12-09 22:18|| 2016-12-09 22:18|| Front Page Top

#7 Coming soon to a great many publicly sponsored pension funds near you. Promises were made and obligations undertaken, that will prove impossible to honor.

Glenn at Instapundit has a saying that perfectly summarizes situations like this one: "That which can't go on forever...won't."

Posted by Crusader 2016-12-09 23:18|| 2016-12-09 23:18|| Front Page Top

23:41 Procopius2k
23:18 Crusader
23:15 Crusader
22:32 DarthVader
22:18 Injun Bucket8891
22:17 Frank G
22:09 Anguper Hupomosing9418
22:05 gorb
22:01 Anguper Hupomosing9418
21:58 Anguper Hupomosing9418
21:00 Zenobia Floger6220
20:22 Shipman
20:11 Shipman
19:50 Pappy
19:33 JFM
19:09 Harry Grundy2446
18:46 Blossom Unains5562
18:17 Ulavitle Jineper6648
18:12 SteveS
17:52 Pappy
17:46 Pappy
17:36 SteveS
17:28 Shipman
17:16 Iblis