Sunday, February 14, 2016

Too Big To Give A Rip...

Question: What is a Wall Street investment banker?

***Wall Street Journal*** 
[2 days ago folks!]

["..for misleading investors about the subprime mortgage loans underlying the securities it sold to investors."]

Answer: A Wall Street investment banker is ...

Saturday, February 13, 2016

About Those Bankers FOM Letters: Banks Always Seek What's Best ....

One very positive thing you can say about the
"Too Big To Care" banking industry.  

They can always be counted on to 
"do the right thing"...

Friday, February 12, 2016

About FOM: Those Bankers' Letters...

The Abusive Bankers Association (ABA) 
Is Just Screwing "Around" 
(Or The American Consumer)
...  As Usual !

Inexplicably, the U.S. Department of Justice has as yet
[... corruption still seems to pay (very well!) in banking!]

Thursday, February 11, 2016

About FOM: What's The Definition Of The Word "Farce"?

The American Bankers' Association Pretending To Protect The American People From The Threat Of Credit Unions!

Blatant & Brash, Bozo Buffooniaries !
(Will concede that banks pay way more in fines for unethical activity, than credit unions pay in taxes!)

Wednesday, February 10, 2016

CUNA "Choice": An Open National Dialogue...

"CUNA Proposal Passes Membership Choice..."
[Feb. 8, 2016]

Mr. Patrick S. Jury, Chair CUNA Corporate Governance Committee, in recommending the proposed CUNA by-law amendments, has this to say:

" This new governance structure will allow CUNA to modernize and become more open, responsive, and accountable to all our members. These proposed bylaws are an important component of that."

"Please let me know if I can answer any questions about the proposal or the process currently underway for the membership to review and vote for its approval."

Mr. Peter Strozniak, the CUTIMES journalist following up on the bylaw amendment story, reported the following when he reached out to Mr. Jury to answer a few questions as requested...
"Jury was unavailable for comment.  An automatic reply email read that he was on sabbatical leave and is scheduled to return May 1."

Since the deadline for ballots is March 18, not sure how much help Mr. Jury will be after May 1 with answers to member CU questions...

Tuesday, February 09, 2016

Pink Slips...

Now now, stop that!! 
Don't get so anxious! 

[We're not going to be talking about lingerie, so everybody just calm back down - okay! We have more serious business to discuss...]

As you've seen [link], CUNA has finally come forth with proposed bylaw amendments to implement "Choice" (or "optionality", if you speak "league-ish"), which will permit credit unions to join CUNA in the future, without requiring an equal commitment to a home state credit union league. To me, it looks like CUNA has, yet once again,  slipped up.

Proponents of "Choice" have called for change based on 1) the unsustainability of the existing CUNA/League structure, given the high costs borne by a rapidly shrinking number of credit unions; 2) the multi-state service areas of an increasing number of credit unions; and 3) the absence of a direct CU voice and dialogue at the national level.  

Opponents believe change will 1) endanger the political effectiveness of CUNA and the leagues at both the state and national levels; 2) create adverse competition among leagues; and 3) potentially weaken and fragment "the united front" credit unions claim to enjoy. Traditionalists have also counseled against too abrupt a rush to an untested model - "a slippery slope" - without extensive, considered discussion among credit unions. 

Both arguments have merit; and, as with most
things in life, the truth - "the right answer" - may well lie somewhere in between. Y'know a "Three Bears Solution" - not too hot, not too cold, ... 

But, CUNA seems to have arrived at a solution which combines the worst of all worlds!  CUNA's bylaw proposals appear slipshod - some would say reckless - by implementing "Choice", while consolidating power within the existing CUNA Board and central staff. Not exactly a formula for direct representation and better dialogue among credit unions at the national level! CUNA's weakness is not that it is too closely connected to the leagues; CUNA's weakness is that it is so thoroughly disconnected from credit unions - and has just proved that fact once again with this action.

You should take great notice that there is no clear timeline for the discussion and implementation of the proposed organizational reforms. No dialogue on structure, scope, purpose; no survey, no polls, no focus groups, no member interaction.
"Don't ask, just tell?"
Not even a 2016 "meeting of the minds" in Estes Park - heh, don't laugh, it worked in '34! But as cooperatives, guess we've outgrown all that.... or maybe it just slipped their minds.

What the leadership of CUNA - Board and staff - may have unintentionally "slipped into" with this vote on "Choice", is a referendum on their leadership
A real risk!
Assume it's clear, that if these proposals are voted down - which is entirely possible given all the recent controversy; the membership of CUNA will have delivered a clear message of "NO CONFIDENCE" in the current management and Board leadership.

Which would - in the real world - result in the delivery of a whole lot of...

Monday, February 08, 2016

Hog Plots...

Again, I'm not suggesting (see Flower Plots - 2/4/2016) that you do anything inappropriate or malicious.  

This is, after all, the "Era of Personal Responsibility" in America - except on Wall Street, at several addresses on Pennsylvania Avenue, or at any point within spitting distance of a candidate's campaign tour bus. Accountability is the thing these days - whether you've been financially sucker-punched or not.

This is just, shall we say, a guerrilla marketing
concept.  Note I said concept, that doesn't mean you're required to do anything. Your decision, your choice - it's a free Country! ( except on Wall Street, at some addresses. ...well you get the idea.)

If you Google around a bit for "pig nose stickers", you'll find that for about $10 bucks you can purchase a roll of 1000 of these...

Sunday, February 07, 2016

Same Sex Marriages...

Let's open a can...

In case you missed it, North Carolinians had a chance a few years back to vote on a constitutional amendment which limited marriage to only the union of one man and one woman.  

Although that limitation was already the law in North Carolina, some folks felt that amending the NC Constitution would make the will of the people clearer.  There was much heated debate leading up to the vote, with both sides putting forth "take no prisioners" rhetoric.  It was one of those "'fer it or agin it" type propositions.  And, the " 'fer its" carried the day by a 60% to 40% margin!

During the lengthy debate, I thought one comment stood out above all others regarding the amendment:  "Not sure why gay folks should receive special treatment.  They should be required to get married just like the rest of us!"

Say no more!!!  But, if you want to see a real uproar in NC on the marriage issue, just wait until someone tries to pass an amendment which prohibits us from...

Saturday, February 06, 2016

Friday, February 05, 2016

Soviet Propaganda....

Once spent an extended number of years going to college to obtain an undergraduate degree in Russian History.  There were, at the time, several seemingly logical reasons for this choice of degrees.... one of which was not that I was a "student athlete".  The choice was mostly influenced by an academic advisor who kept suggesting "Just choose something!" and parental funders who had begun using phrases like "Grow up!" and were increasingly late with their "support checks".

Being so aggressively encouraged in my academic endeavors,  looked around earnestly for the quickest way out and found the Russians!  After all I liked to socialize and already had extensive non-credit hours in partying, so studying "the Socialist Party" seemed the least demanding path of resistance.  
Another "party" animal?

Within a decade, I was awarded a degree in history - on a split decision by the Trustees, reached only after promised assurances from the recipient, never to practice in North Carolina or any contiguous state.  Thought that was a sound bargain for all concerned; and in exchange, the Trustees agreed to "round upward" my grade point average to the minimum "2.00000000000"! Still to this day believe any grade point average above 2.0 but less than Phi Beta Kappa is a waste of "extra-curricular opportunities" - socialist or otherwise.

Obviously many, many people were thrilled with my graduation; a far greater number were shocked and surprised - and remain so to this very day.

But I did learn a few things.....