🫣

""Yo brother, legal team confirmed that we can't work with minors rn," a Kalshi employee wrote to the user in messages reviewed by the Journal. "Kinda sad tbh."" im losing my mind

"Under a new Indiana law, public DC plans in the state will be required to offer at least one crypto investment option in a self-directed brokerage account by no later than July 1, 2027" 🧐

I reviewed Barry Eichengreen's new book about global currencies and the future of the dollar, check it out:

Clickhole country.

it's everything everywhere all at once & at the same time Blackstone's senior management just pitched in $150 million of their own money to save BK's private credit fund, so everything going great?!

appalling

Canadian and Australian pension joining forces to lobby governments in both countries to de-risk their private infrastructure investments. 😬

Hardship withdrawals from 401(k)s increased for the sixth straight year. Top reasons included avoiding foreclosure and eviction as well as paying medical expenses. (Gift link) www.wsj.com/personal-fin...

Great to see extensive NYT & FT coverage of our paper on the fossil-fuel profit bonanza during the previous war-induced oil & gas price spike. Links in Gregor’s thread. 👇

I just need everyone to watch this and understand I have been laughing about it for 24 hours

tiniest_violin.gif

We're at the 'ok, there may be problems, but not my firm' stage of things.

You'll never guess who, in recent years, acquired a private credit firm, an infrastructure fund manager, and a private markets analytics firm whose data create the narrative that it's 'not enough'

not the main issue of the day, but the trickle of bad news from this sector is still running... www.ft.com/content/7dad...

over the last three month, 5 companies mentioned the strait of hormuz on their earnings calls. i suspect that will tick up a wee bit in the near future.

I'm thrilled to announce a new report I wrote with @ksavin.bsky.social and @calliefreitag.bsky.social on the impact of DOGE/Trump 2.0 turmoil on Social Security disability programs. As the title says, these programs have always been tough to navigate. But in the last year, they've gotten worse.

Gas prices are up 50 (!) percent 𝘵𝘰𝘥𝘢𝘺. Do we have a public @lse-ei.bsky.social lecture on fossil fuel profits scheduled for 𝘵𝘰𝘮𝘰𝘳𝘳𝘰𝘸? Yes. And will our speaker @gregorsemieniuk.bsky.social be joined by @mazzucatom.bsky.social as discussant? Also yes! Registration: www.lse.ac.uk/european-ins...

Nature is healing. www.bloomberg.com/news/article...

Just logged into LinkedIn, where -- apparently -- war doesn't exist.

The war on Iran likely brings a new oil price shock and windfall profits. So, who stands to win? Our research shows: Last time around (2022), the US reaped the largest fossil fuel profits of any country ($377bn). 50% went to the top 1%, only 1% to the bottom 50%. A🧵

Statement from SEIU on the Trump Administration’s Unconstitutional Attack Against Iran, Reckless Disregard for Working People’s Lives:

"To the extent our funds perform well, we can support a better retirement for tens of millions of pensioners, including teachers, nurses and firefighters." -Blackstone 10-K, p.7, filed Feb 28, 2025

From Blue Owl's portfolio holdings list 🫠 www.blueowlcapitalcorporation.com/portfolio/po...

still wondering, what is private credit, again?! join me for a webinar organized by @ourfinancialsecurity.org on wed march 4th at 3pm et us06web.zoom.us/webinar/regi...

Interesting development. Stirrings of dissent among the rank and file tech sector workers. www.ft.com/content/7bbc...

Story with @michellema.bsky.social www.bloomberg.com/news/feature...

👀 www.reuters.com/legal/govern...

This was literally a Simpsons joke THIRTY YEARS AGO Marge: Can we get rid of this Ayatollah t-shirt? Khomeini died years ago. Homer: But, Marge, it works on any Ayatollah! Ayatollah Nakhbadeh, Ayatollah Zahedi...

If there’s an audiobook, I hope this soundtrack plays on loop in the background.

This is the last of the old posts that we're republishing here before moving on to new material. Up next (hopefully soon) will be part 2 in this case study.

Narrator: they will not understand it. "'With retail exposure to alternative investments becoming more common, we want to help everyday investors understand the different valuation approaches used in these products,' said Brian Daly, Director of the SEC’s Division of Investment Management."

the thing that's so funny re Jensen & Meckling is that they're just mad about managers getting non-pecuniary perquisites like "an attractive office staff" and thick carpets & in their model outside equity is *non-voting* this is the bible of shareholder primacy! 🤷‍♀️

Reform coming for local government worker pensions www.pensions-expert.com/lgps/unions-...

I have a new review paper out in @environmentalpol.bsky.social! ✨ What would it actually take for states to pursue green transformations? I identify 5 capacities — planning, disciplinary, strategic, legitimation and adaptive — and their respective policy elements, capabilities and institutions

And it begins… www.pionline.com/institutiona...

New Rhodes Center Pod just up. Great conversation with Alex Cooley and Alex Dukalskis about their new book Dictating the Agenda. AKA - How authoritarians go from playing defense other than offense. Great book. Read it. But listen here first: player.captivate.fm/episode/5e16...

Important stuff from @leeharris.ft.com on how the US life insurance industry loaded up on private credit www.ft.com/content/b6be...

"@grok, put the cobalt price in a bikini"

Lol, no

I didn't realize that Oaktree was still involved in residential housing in Ireland. About 10 years ago, my jaw dropped when I started looking how they structured the acquisition of distressed mortgages (in the aftermath of the GFC) to avoid taxes in the country.

@markgmaurer.bsky.social on how FASB accounting rules lump together data center build outs with more rapidly depreciating chips, making the disclosures difficult to understand. www.wsj.com/articles/ai-...

"“Limitations” in the rules mean AI companies may not have to account either for the cost of renewing a data centre lease or for the cost of not renewing it, even though either number could be huge" Accounting gaps for real estate-related liabilities? Those never cause any trouble, right?

Workers' capital -pension funds - pushing for AI to replace workers is one of the exquisite ironies of the financialised welfare bargain

"large language models such as ChatGPT were consistently advising women to ask for lower salaries than men in recruitment processes,... AI tools already in use by more than half of England’s councils were downplaying women’s medical conditions, potentially resulting in unequal care"