Vensure Federal Credit Union has been making a lot of noise of late and has created quite a little "racket" over at the NCUA! According to the inimitable CU Journal (5-11-11), the recent conservatorship vote was necessary because, as Mike Fryzel (quoted from the Board minutes) stated: "We are going to be taking action on it at the last minute in order to make sure that we are not embarrassed further."
Mr. Fryzel went on to say, "now, at this late date, we sit attempting to take action before the Justice Department moves in and embarrasses us even further."
Well, it's at least encouraging to know that "the ole Redhead" is red-faced! Perhaps Mr. Fryzel will help rebuke the usual NCUA "apologists" who will surely come forward with: "Look, we're a small Agency and accidents do happen. After all, everyone trips up occasionally; and anyone can have an off-decade from time to time."
Alexandria does not appear to appreciate that the ("we, we, we") embarrassment tinge and taint fall a bit further afield, than just upon the self-reflective regulatocracy poodled-up on the corner of Duke Street....White teeth , Black eye, Red face.... well at least they're always colorful!
Another bad deal .... "Won't happen again" .... wanna bet?
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