Comment on Detroit’s dodgy numbers by Change is Coming: Preparing for New...
[…] people are learning that the city may have had more off-balance sheet debt than on-balance sheet. One report had the numbers at $9.20 billion in off-balance sheet debt and $8.78 billion in...
View ArticleComment on How did Detroit’s pensions fail so badly? by There’s No Formula...
[…] news of Detroit’s bankruptcy has brought countless explanations of what went wrong, some of them pretty interesting. But the main point of a bankruptcy — especially this bankruptcy, which […]
View ArticleComment on How did Detroit’s pensions fail so badly? by Wall Street plunders...
[…] But when the pensions’ portfolios suffered losses from the economic downturn, the city government decided to issue bonds to fulfill its obligations. A series of refinancings, underwriting fees and...
View ArticleComment on How did Detroit’s pensions fail so badly? by Wall Street plunders...
[…] But when the pensions’ portfolios suffered losses from the economic downturn, the city government decided to issue bonds to fulfill its obligations. A series of refinancings, underwriting fees and...
View ArticleComment on How did Detroit’s pensions fail so badly? by There’s No Formula...
[…] news of Detroit’s bankruptcy has brought countless explanations of what went wrong, some of them pretty interesting. But the main point of a bankruptcy — especially this bankruptcy, which […]
View ArticleComment on How did Detroit’s pensions fail so badly? by Notes on the Detroit...
[…] on a new round of felony convictions), city governance has been notoriously corrupt, not to mention astonishingly incompetent. Since 2005, for example, the city has turned to Wall Street for help...
View ArticleComment on Municipal debt: from time machine to time bomb? by How did...
[…] municipalities by issuing municipal bonds to “fund” its pension obligations. While these bonds do no such thing – they simply kick today’s liabilities into the future –they have proven to be catnip...
View ArticleComment on Risk parity and the power of branding by Jason Windawi
Cliff Asness absolutely fits that profile as a person – I’m not sure about the goldbug part, but he has made no secret of his opposition to Obama. But AQR’s portfolios are all algorithmic, and I’d be...
View ArticleComment on Risk parity and the power of branding by bearing light
AQR, Bridgewater – aren’t they all goldbugs, the end is near kind of guys, basing their decision on political biases rather than reality?
View ArticleComment on Uncertainty absorption, decision premises and the maintenance of...
Hello Arno, I apologize for my slow response. What I take “premise” to mean in this context is the set of assumptions, information and beliefs you hold at the time you make a decision, and that go into...
View ArticleComment on Municipal debt: from time machine to time bomb? by Anchard
Agreed that Detroit is a special case in terms of severity (as I added in the last paragraph above). But I also think you’re giving governors and mayors – cities are a big part of this too – far too...
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Comment on Municipal debt: from time machine to time bomb? by bearing light
You almost did . But I do think Detroit case is a little different from other states. They are in a death spiral: no revenues and debt obligations. If other state’s governors are not complete idiots...
View ArticleComment on Uncertainty absorption, decision premises and the maintenance of...
Hello, First of all, thank you for investing time in the redaction of this post, it has been of much help in my understanding of the concept of “uncertainty absorption” that I had first encountered in...
View ArticleComment on Defining systemic risk by Regulating complexity I: Ashby, Perrow,...
[...] of power is crucial in order to lessen systemic risk (an idea echoed by Hansen, as I discussed here). Replacing one-way relationships of dependency, which tie individuals and companies to more...
View ArticleComment on Sentiment should not be the new horizon in journalism by Anchard
That’s the key question, isn’t it? I only have some general ideas, nothing too specific, but they’re a start. First, I think we need to make it possible for non-profit and (as a distant second-best)...
View ArticleComment on Sentiment should not be the new horizon in journalism by Mike Hill
What would you do to improve the situation?
View ArticleComment on Defining systemic risk by Regulating systemic risk | aluation
[...] ← Defining systemic risk [...]
View ArticleComment on Two faces of American exceptionalism by Dan Platt
American exceptionalism really has two faces of its own. On one is the exaltation of the ideals we hold most dear, which we consider to be exceptional. This should be at no expense to anyone else. But...
View ArticleComment on Open data and the emergence of data philanthropy by Do we really...
[...] ← Open data and the emergence of data philanthropy [...]
View ArticleComment on Open data and the emergence of data philanthropy by Open data and...
[...] This is a guest post. Crossposted at aluation. [...]
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