Category: Pension funds

With any luck you’ll die soon: Part 1, Not dying on schedule

27 August, 2015 (10:00) | Actuaries, Bankruptcy, Cities, Doublethink, Illinois, Investment, Municipal bankruptcy, Pension funds, Principal-agent risk, Real estate taxes, Speculation, US News | No comments

By: David A. Smith ‘Tell me,’ he said, ‘how soon will they shoot me?’ The longer a retiree lives, the more he or she should save for retirement, so if you’d like to save less today, plan on dying sooner tomorrow? “I’m not scared of dying?” Principal sources used in this post The Wall Street […]

Chicago’s first domino

18 May, 2015 (16:11) | Bankruptcy, Chicago, Cities, Default, Municipal bankruptcy, Municipal finance, Pension funds, Rating agencies, Real estate taxes, Recapitalization, US News |

By: David A. Smith Scarcely had I finished posting Chicago’s pre-obituary (A tale of two cities, Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, Part 10, Part 11, and Part 12) than the first domino fell, as reported in the Chicago Tribune (May 8, 2015), […]

A tale of two cities: Part 12, A beautiful city rising from this abyss

29 April, 2015 (10:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 11 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, Part 9, and Part 10.] By: David A. Smith “It is a far, far better thing that I do, than I have ever done; it is a far, far better rest […]

A tale of two cities: Part 11, Only Detroit has a lower bond rating

28 April, 2015 (10:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from yesterday’s Part 10 and the preceding Part 1, Part 2, Part 3, Part 4, Part 5, Part 6, Part 7, Part 8, and Part 9.] By: David A. Smith “And who among the company at Monseigneur’s reception could possibly doubt that a system rooted in a frizzled hangman, powdered and gold-laced, pumped, and […]

A tale of two cities: Part 10, Division of public property, debts, town paupers, and taxes

27 April, 2015 (09:00) | Annexation, Bankruptcy, Chicago, Cities, Detroit, Finance, Housing, Infrastructure, Municipal bankruptcy, Pension funds, Real estate taxes, Speculation, Urbanization, US News, Zoning |

[Continued from last week’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 “Keep where you are because, if I should make a mistake, it could never be set right in your lifetime.” Charles Dickens, A Tale of Two […]