Sunday, April 20, 2014
|Fat chance !|
* Still hoping that the police in Bakersville can step away from the donut box long enough to enforce some traffic laws.
* God will judge step-mothers.
* When you see a political ad on TV you might as well consider it a lie, it most likely is.
* If you're gonna be low down enough to steal from other people, try not to let anyone see you.
* Some of the people who move here think that folks whose families have lived here for years aren't near as smart as them. Well least we were smart enough to get here first.
And the "you'll only find this sort of quality put down moment" in the
Saturday, April 19, 2014
Friday, April 18, 2014
Thursday, April 17, 2014
|Swine… very.very swine!|
A "decency decree" might be more appropriate and may be what will eventually be required for our "fine" Wall St. b*#ks… yes, fine after fine after fine after….
Here are our friends from Bankerspank once more:
Sue-y, sue-y… call in the hogs!
Wednesday, April 16, 2014
|Spotting the high risks…|
Here's a brief follow-up on a couple of comment questions, which asked for a bit of "fact checking" on the McKenna Congressional testimony posts.
One of the points that the NCUA has manufactured to justify its new risk-based capital (RBC) proposal is the "high risk" threat posed by "large, complex" credit unions to the NCUSIF.
As mentioned, the NCUA in its RBC proposal attempts to change the Federal Credit Union Act (FCUA) by unilaterally declaring that 1) all credit unions below $50 million in assets are a) "small" and b) "not complex"; and equally, 2) all credit unions above $50 million in assets are a) "large" and b) "complex".
Here are "the $$ numbers" which go with the charts in the 4/14/2014 charts…
Tuesday, April 15, 2014
|I are s…..|
MOST UNUSUAL REQUEST OF THE MONTH:
The member was filling out the intake questionnaire for the VITA tax prep program. He stopped and asked the member service rep, if she could help him. She said sure, what was the problem?
He said the only thing left to enter were the birth dates of his two children, which he couldn't remember. But, that he did have them tattooed on his back, if she would be willing to lift up his T-shirt and write them down….
( What happened ?…. don't ask!!)
Monday, April 14, 2014
|Legal Beagle or...|
*(Caution: this quote is from the "unclarified" written version and may therefore be subject to revision, denial, or subsequent pleas of temporary insanity.)
"The proposed risk-based capital [rule] also exempts two-thirds of credit unions, those with less than $50 million in assets, because they are not considered complex. Based on losses from several larger credit unions incurred during the past crisis, a final risk-based rule will be critical to protecting against future losses."
1. "… not considered complex." NCUA, in the proposed RBC rule, changes the Congressionally mandated determination of complexity to a simple, arbitrary formula:
a) < $50 million in assets = not complex and b) > $50 million = complex. Pretty sophisticated "consideration" logic there, heh!? But, par for the course in the perverted regulatory logic underpinning much of NCUA's proposed RBC rule.
2. "Based on losses from several larger credit unions…" NCUA has started using the "large credit unions are riskier" excuse at every opportunity, in every forum. Mr. McKenna of course parades the "party line" in his testimony.
The chart which NCUA uses before general audiences to justify this "logic" is shown above; which would indicate that the Agency needs to shift exam resources from small, non-complex CUs to those "under-microregulated", larger, riskier CUs.
Since NCUA is callously killing off smaller CUs at a very rapid pace - out of arrogance, indifference, or both!; it makes great, self-preservation logic for the Agency to fabricate a "large CU bogey-man" to justify their continued existence in a rapidly shrinking field. If not, NCUA might have to do what private sector businesses and all CUs do - cut budgets, work force and overhead. NCUA is desperately trying to equate risk to asset size, which would justify a perpetually increasing Agency - without any real consideration of complexity or risk.
By the way, would you like to see the risk chart NCUA uses internally (don't ask me who sent it!)….