November 3, 2026
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Author: Jay Rogers

Jay Rogers is a financial professional with more than 30 years of experience in private equity, private credit, hedge funds, and wealth management. He has a BS from Northeastern University and has completed postgraduate studies at UCLA, UPENN, and Harvard. He writes about issues in finance, constitutional law, national security, human nature, and public policy.

Sacramento Flunks Civics Again

October 19, 2026   7:47 amOctober 19, 2026   7:48 am
On Oct. 14, the Ninth Circuit reminded Sacramento of a lesson most of us got in eighth-grade civics: a state doesn’t write the dress code for the federal government. A unanimous panel ruled that Section 10 of California’s No Vigilantes...
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Class President by Appointment

October 14, 2026   12:00 pmOctober 14, 2026   12:01 pm
About 200 fourth, fifth and sixth graders at Washington Elementary School in Santa Barbara made posters, gave speeches and voted for their student officers. Their principal then overrode two of the results. The sixth-grade presidency went to the runner-up, who...
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Fewer Kids, More Payroll: LAUSD’s Math Problem

October 11, 2026   6:00 amOctober 11, 2026   6:01 am
This week, California’s school finance watchdog rated Los Angeles Unified at high risk of insolvency. The district’s own numbers explain why. Between 2019-20 and 2024-25, enrollment fell from 440,365 students to 369,830, a drop of 16%. Over the same stretch,...
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Teachers Need Returns, Not Another Subcommittee

October 4, 2026   4:00 pmOctober 4, 2026   4:09 pm
CalSTRS is rethinking how its board oversees private market investments, and a new fiduciary subcommittee will focus on human-capital management, Pensions & Investments reported on September 24. Members of the fund should hold that panel to one measure: net return....
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CalPERS Can’t Show Its Work

October 1, 2026   6:00 amOctober 1, 2026   6:01 am
CalPERS just posted a 14.8% return for fiscal 2025-26. Assets reached $637.1 billion and the funded ratio rose to 85%, up from 79% a year earlier. Good news deserves a fair hearing, and it raises a question. If the books...
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Birth Tourism Is Now Legal and You’re Picking Up the Tab

September 28, 2026   7:30 amSeptember 28, 2026   7:31 am
In June, the Supreme Court decided Trump v. Barbara and settled the birthright citizenship question for a generation. Chief Justice Roberts wrote for the majority that children born on American soil to parents here unlawfully are “citizens at birth” under...
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My HOA Just Out-Governed the State of California

September 21, 2026   5:19 pmSeptember 21, 2026   5:19 pm
I have lived in Ladera Ranch since 2008, long enough to coach youth rugby on the same fields where half the neighborhood’s kids grew up, the same fields that host our Spring Celebration, our Harvest Festival, and our Fourth of...
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