Archive for the ‘Texas’ Category

Houston We've Got a (Pensions) Problem

Houston We’ve Got a (Pensions) Problem

By The Banker | Blog Posts, Texas

Houston’s three public pensions may not be in total distress today, but some of the instrument panels are beginning to flash orange. One of the warning signs is the hit to the city’s credit-ratings earlier this year, as Moody’s Investors Service downgraded the City of Houston’s debt on March 16 2016. You might guess that [&hellip

Apollo Global Purchases Rackspace - My Take on Texas Public Radio

Apollo Global Purchases Rackspace – My Take on Texas Public Radio

By The Banker | Audio Posts, Texas

I went on Texas Public Radio on Friday to comment on the news that Leon Black’s Apollo Global had agreed to purchase San Antonio cloud-hosting firm Rackspace for $4.3 billion.   Post read (46) times

Public Pensions - The Big Four In TX

Public Pensions – The Big Four In TX

By The Banker | Blog Posts, Texas

A key reason why I started a discussion of public pension funds in Texas by saying “Don’t Panic” is because 88% of Texans covered by a public pension plan are participants in one of just four plans, and the good news is that none of these four are in distress. Right now.  The largest four [&hellip

Hamilton And Sovereign Debt

Hamilton And Sovereign Debt

By The Banker | Blog Posts, Texas

How does a profane, hip-hop, hit of a show, and a chapter, dropped in the middle of a behemoth book on Alex Hamilton, by Ron Chernow capture the current zeitgeist, show us to treat our debt with sacred honor? Hamilton, the musical by Lin-Manuel Miranda, swept through my household this Summer like a hurricane, buffeting [&hellip

Public Pension System Heuristics

Public Pension System Heuristics

By The Banker | Blog Posts, Texas

Douglas Adams’ Hitchhikers Guide To The Galaxy famously advised us on the book cover “Don’t Panic,” and I think that’s a useful starting point for discussing public pensions in Texas. You see, I started by wondering “should we panic?” when I began a personal project of studying public pension, for a variety of reasonable suspicions, [&hellip