Dallas Mayor Admits Police Pension Pushing City Toward "Fan Blades Of Municipal Bankruptcy"
A few months ago we wrote that the Dallas Police and Fire Pension Fund was on the verge of collapse after a series of shady real estate investments resulted in massive markdowns of pension assets, the ouster of the fund's CIO and an FBI raid of it's largest real estate investment manager (see "Dallas Cops' Pension Fund Nears Insolvency In Wake Of Shady Real Estate Deals, FBI Raid"). We summed up the fund's dilemma as follows: