Category Archives:

Pensions: A Texas Haircut

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Rookies Get the Shaft As previously reported, the pension fund for Dallas firefighters is lurching towards insolvency because of bad decisions by the trustees, but they have a fix for that. For those of us wishing to learn from their disaster, it’s crucial to note that a greedy and ethically unsupportable deferred retirement option plan […]

Pensions: Disaster in Dallas

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That Firefighter Brotherly Love? The Dallas Police and Fire Pension Fund needs a $1.1 billion dollar bailout from the city in order to avoid insolvency as a result of a combination of actions all rooted in fiduciary recklessness over a 23-year period. From a guaranteed 8.5% annual interest rate on DROP accounts to pie-in-the-sky investment […]

“America’s Most Alarming Story”

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The Bear Interferes The Washington Post has an opinion piece by Eric Chenoweth,  co-director of the Institute for Democracy in Eastern Europe, upbraiding us collectively for our failure to be appropriately outraged at Putin’s supposed meddling in the 2016 presidential election. Chenoweth suggests we should have mouths agape at “the successful effort by a hostile foreign […]

Boots on the Ground: Senior Chief Petty Officer Scott Cooper Dayton

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Killed on Thanksgiving Chief Scott Dayton was killed on Thanksgiving Day as part of US Special Forces fighting ISIS in Syria. The Times reports that he died in “Ayn Issa, a town halfway between Raqqa and the Turkish border.” Dayton is the first publicly disclosed US casualty in Syria. Special Forces are training and preparing […]

Christmas Crisis

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Lives Wrecked The Guardian reports that the prestigious medical journal Lancet Psychiatry has published an article detailing the potential harm associated with gaming the wee ones over Old Saint Nick. It’s about the moral compass, you see. They say, “lying to children, even about something fun and frivolous, could undermine their trust in their parents and […]

Firefighter Pensions: 297 Millionaires

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Got a Spare $1.1 Billion? About a year ago the Dallas Morning News reported that 297 vested members in the Dallas Police and Fire Pension System had Deferred Retirement Option Plan (DROP) accounts valued at $1,000,000 or more. One account was worth more than $3,000,000. This past week the New York Times reported that the […]

Trump, Bannon and Schaitberger

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Coming Home to Roost Stephen Bannon, Donald Trump’s pick for Senior White House strategist, despises the IAFF generally and Our Dear Leader, specifically. Several years ago, his Breitbart News published a scathing series detailing Schaitberger’s choice to lead the IAFF’s Pension Operation, saying, in part, “Fire fighters’ union General President Harold Schaitberger flaunted his power […]

Now, That’s a Veteran

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Sergeant Bill Mohr Out touring with high school seniors from Kansas yesterday on a crisp and glorious Fall afternoon, we walked from the White House down to the World War II Memorial with the Washington Monument beginning to glow in the setting sun. Down at the Memorial I spied a Veteran in a wheelchair, blanketed […]

Trumped

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Reality TV Star as US President As writer Doris Kearns Goodwin would say, “this is no ordinary time.” Folks will talk for months about how Clinton lost but the Washington Post had an extraordinary explanation as to why. “Of the nearly 700 counties that twice sent Obama to the White House, a stunning one-third flipped to […]

USS Weiner

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FBI Director Richard Comey fired a shipboard cruise missile yesterday. Mrs. Clinton, whom I strongly support, says Comey’s decision to launch is “deeply troubling.” There is a lot of that (deeply troubling) to go around, especially where Mrs. Huma Abedin and her train wreck spouse are concerned. If Mrs. Clinton was going to make Mrs. […]

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