The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

A system that lets participants choose between the traditional system and a lower-cost settlement paid in inflation-adjusted Treasuries could ensure the program's solvency.

Market-based measures of public pensions funding may better informstate governments and taxpayers of the liabilities and risks they face.

As the US debt continues to grow, HUD officials still fail to own up to the massive liabilities on their books that could cost taxpayers mightily. In a point by point refutation, Wharton professor Joseph (Joe) Gyourko responds to HUD's attack of his recent AEI report.

Many public workers are overpaid relative to their private sector counterparts, especially in large, unionized states such as Wisconsin, Ohio and California. This may sound like a controversial claim, but it shouldn't. A consensus is building about the need for reform.

Because the GASB’s proposals ignore government's contingent liability to pay plan benefits should assets fall short, they omit the full value of plan liabilities and contradict the GASB's own standard of "interperiod equity."

Does a pension plan that takes more investment risk become better funded? Both the current accounting standards and the proposed revisions answer yes, while economic theory and real-world financial markets say no. Until and unless this central question is answered correctly, both the size of pension liabilities and the steps that could address them will be misunderstood.

How in the world might a transportation bill feed our retirement crisis? Congress is sneaking a harmful pension change that could lead to massive underfunding of our largest plans