We present an alternative interpretation of the nature of the extremely coo
l, high-velocity white dwarfs identified by Oppenheimer et al. in a high-la
titude astrometric survey. We argue that the velocities of the majority of
the sample are more consistent with the high-velocity tail of a rotating po
pulation, probably the thick disk, rather than with a pressure-supported ha
lo system. Indeed, the observed numbers are well matched by predictions bas
ed on the kinematics of a complete sample of nearby M dwarfs. Analyzing onl
y stars showing retrograde motion gives a local density close to that expec
ted for white dwarfs in the stellar (R-3.5) halo. Under our interpretation,
none of the white dwarfs need be assigned to the dark matter heavy halo. H
owever, luminosity functions derived from observations of these stars can s
et important constraints on the age of the oldest stars in the Galactic dis
k.