  I discuss two hypotheses that might explain LMC microlensing: the Halo
stellar remnant lensing hypothesis and the unvirialized LMC lensing hypothesis.
I show that white dwarfs cannot contribute substantially to the cosmic baryon
budget; they are strongly constrained by chemical evolution and background
light measurements. Although there have been some claims of direct optical
detections of white dwarfs in the Halo, I show how the full sample of direct
optical searches for halo lenses do not support the Halo lens hypothesis.
  N-body simulations suggest that the LMC may be naturally excited out of
virial equilibrium by tidal forcing from the Milky Way. New measurements of LMC
kinematics not only do not rule out the unvirialized LMC lensing hypothesis,
but even moderately favor it (at 95% confidence).
