Business

We've written several times over the past couple of months about the epic meltdown of the the Dallas Police and Firefighters Pension (DPFP) (see here, here and here for background).  It all started when the Pension Board discovered that one of their real estate managers had been consistently overmarking illiquid real estate investments.  That discovery resulted in an FBI investigation of the manager and a $1BN write down for the DPFP.  In the wake of the writedowns, Dallas policemen and firefighters rushed for the exits and withdrew over $500mm in assets. 

Submitted by Michael McDonald via OilPrice.com,

It is no secret that the coal industry has faced hard times for the last few years. Environmental concerns led President Obama to institute more stringent regulatory requirements, while cheap natural gas created intense competition. Against that backdrop, many coal industry participants and investors hoped that President Trump would be able to reverse those fortunes.

Last week we reported, that in an unprecedented attempt to breach the personal privacy of users of the largest bitcoin exchange in the US, Coinbase, the IRS filed papers seeking a judicial order to serve a so-called “John Doe” summons on the San Francisco-based Bitcoin platform.

By Chris at www.CapitalistExploits.at

Market dislocations occur when financial markets, operating under stressful conditions, experience large widespread asset mispricing.

Welcome to this week's edition of “World Out Of Whack” where every Wednesday we take time out of our day to laugh, poke fun at and present to you absurdity in global financial markets in all its glorious insanity.

President-elect Donald Trump is filling his high-ranking cabinet positions with all sorts of picks, ushering in an era of either utter confusion or revolutionary action. He met with a candidate who wants to end the Federal Reserve banking system and take the power away from the Elite. A tall task that has proved costly for previous presidents. Anti Media reports: On Monday, after meeting with Goldman COO Gary Cohn, the president-elect had a one-on-one with a wildly outlandish candidate for Treasury Secretary who has flown a bit under the radar.