Category: Bankruptcy

Doublethink pension funding: Part 10, “One would think that alert trustees”

16 January, 2015 (10:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News | No comments

[Continued from yesterday’s Part 9 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, and Part 8.] By: David A. Smith It’s merely a question of self-discipline, reality-control. But in the end there won’t be any need even for that. The Revolution will be complete when the […]

Doublethink pension funding: Part 9, “The brains and the nuts and the bolts”

15 January, 2015 (09:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News | No comments

[Continued from yesterday’s Part 8 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, and Part 7.] By: David A. Smith Was it possible that they could swallow that, after only twenty-four hours?  Syme, too–in some more complex way, involving doublethink, Syme swallowed it. Was he, then, alone in […]

Doublethink pension funding: Part 8, “A battle over retiree votes”

14 January, 2015 (09:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News | No comments

[Continued from yesterday’s Part 7 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, and Part 6.] By: David A. Smith If you want to keep a secret, you must also hide it from yourself. George Orwell, 1984 When perpetuating a big lie, such as the doublethink empire of public-employee pension-fund […]

Doublethink pension funding: Part 7, “That might sound odd”

13 January, 2015 (10:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News | No comments

[Continued from yesterday’s Part 6 and the preceding Part 1, Part 2, Part 3, Part 4, and Part 5.] By: David A. Smith If one is to rule, and to continue ruling, one must be able to dislocate the sense of reality. For the secret of rulership is to combine a belief in one’s own […]

Doublethink pension funding: Part 6, “Effectively robbing the fund”

12 January, 2015 (09:00) | Actuaries, Bankruptcy, Bonds, Capital markets, Cities, Detroit, Housing, Municipal bankruptcy, Net present value, Pensions, Speculation, US News | No comments

[Continued from Friday’s Part 5 and the preceding Part 1, Part 2, Part 3 and Part 4.] By: David A. Smith To use logic against logic. George Orwell, 1984 If one is going to underfund a public-employee pension fund, with the intention that this doublethought underfunding will eventually be paid for by someone else as yet […]