A major public pension fund, PSERS, looks to have been cooking its books, to the degree that the FBI is asking difficult questions.
Recent Items
Sunday, December 28, 2025
FBI Investigating Reporting Fraud at $62 Billion Pennsylvania Public Pension Fund, PSERS; Returns Allegedly Falsified to Avoid Increased Worker Contributions
Topics: Banana republic, CalPERS, Investment management, Legal, Politics
Posted by Yves Smith at 2:56 am | 31 Comments »
2:00PM Water Cooler 4/5/2021
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 128 Comments »
New York Joins Pot Party
New York becomes the fifteenth state to legalise possession of marijuana for those over the age of twenty-one.
Topics: Guest Post, Legal, Politics, Regulations and regulators
Posted by Jerri-Lynn Scofield at 9:55 am | 14 Comments »
Links 4/5/2021
Topics: Guest Post, Links
Posted by Jerri-Lynn Scofield at 6:58 am | 86 Comments »
Why India is Banking on Health Diplomacy to Grow African Footprint
India has stepped up its foreign policy re-engagement with African countries and has focused on health diplomacy.
Topics: Africa, China, Globalization, Guest Post, Health care, India, Pandemic, Politics
Posted by Jerri-Lynn Scofield at 6:50 am | 4 Comments »
Good Friday and Easter Church Raid Attempts by Police Over Covid Intensify Conservative Christian Vaccine Hesitancy
A doctor describes how the officialdom’s arrogant, “one size fits all” vaccine messaging is backfiring by alienating conservative Christians.
Topics: Dubious statistics, Guest Post, Health care, Media watch, Pandemic, Social policy, Social values
Posted by Yves Smith at 6:00 am | 172 Comments »
Martin Luther King’s America Redux: “The Greatest Purveyor of Violence in the World”
Liz Theoharis commemorates the anniversary of Martin Luther King’s “Beyond Vietnam” speech.
Topics: Banana republic, Guest Post, Income disparity, Pandemic, Politics, Social policy, Social values
Posted by Yves Smith at 12:44 am | 16 Comments »
Italy Bans Cruise Ships from Entering Venice’s Historic Center
Environmentalists take a victory lap, but much more must be done to ensure the survival of Venice, especially with sea levels rising.
Topics: Curiousities, Environment, Global warming, Globalization
Posted by Jerri-Lynn Scofield at 12:55 pm | 39 Comments »
Links 4/4/2021
Topics: Guest Post, Links
Posted by Jerri-Lynn Scofield at 6:58 am | 119 Comments »
Life in a Remote Alaskan Community on the Front Line of Climate Change
Whittier, Alaska, copes with a pandemic and climate change, and confronts the daunting prospects of a Prince Williams Sound tsunami.
Topics: Doomsday scenarios, Environment, Global warming, Guest Post, Pandemic
Posted by Jerri-Lynn Scofield at 6:50 am | 6 Comments »
Why the Government Bonds Owned by the Bank of England Are Not a Debt Burden, Even When They’re Repaid
A short discussion of government bonds and what happens when a central bank holds them.
Topics: Economic fundamentals, Federal Reserve, Guest Post, Macroeconomic policy, UK
Posted by Yves Smith at 6:18 am | 16 Comments »
QE During the “Everything Mania”: Fed’s Assets at $7.7 Trillion, Up $3.5 Trillion in 13 months
Trying to make sense of what the Fed is up to.
Topics: Banking industry, Credit markets, Dubious statistics, Economic fundamentals, Federal Reserve, Guest Post, Investment outlook
Posted by Yves Smith at 6:04 am | 39 Comments »
2:00PM Water Cooler 4/2/2021
~ Today’s Water Cooler ~
Topics: Guest Post, Water Cooler
Posted by Lambert Strether at 2:00 pm | 107 Comments »
The ‘Roaring Twenties’ and Covid Recovery: Revisiting the Evidence for Europe
Are the Roaring Twenties an analogue for what a post Covid economy would look like?
Topics: Economic fundamentals, Europe, Guest Post, Income disparity, Pandemic, The dismal science
Posted by Yves Smith at 9:55 am | 29 Comments »



