Tuesday, June 19, 2012

NCUA "Wrestles" With Utah.....

In the sport of wrestling (we call it "rasslin' in NC), two major moves are the "Nelson" and the "half-Nelson".  Both are positions of strength and pose a threat to the athlete caught by an opponent in such a position.

Utah just put "the move" on NCUA evidently, using a "Stephen Nelson".  (See CUInsight.com  - 5/23/12 and CUTimes.com - 6/13/12). 

"You dared to say what?!!!"
Actually all Mr. Nelson did was pen a "spoof", a "send-up", a bit of humor, a joke about the current dismal state of the NCUA examination process.  Mr. Nelson "gave voice" to a "silent majority" of credit unions in the U.S.  Evidently NCUA can no longer "take a joke", perhaps because "the joke" comes so increasingly close to the truth.....   

Just for the record, Mr.Nelson is neither off-base nor a lone voice on this issue; but Mr. Fryzel, in a perverse sort of way, is also correct - nobody finds NCUA's continuing indifference, intimidation, and retaliation funny.

Here's a very striking example which confirms that Mr. Nelson knows of "that of which he speaks".....

"In the testimony of Mr. Marquis ... one of the most outrageous and arrogant statements I've seen in my entire life before this Committee..."
- before the House Financial Services Committee 
(Feb. 1, 2012)

(.... are you listening??)


Anonymous said...

I received the NCUA Item Requests for my upcoming exam. On page 2, Item A10 is the following--"Summary of the effect the Corporate Restructuring and corporate capital write down and/or reversals have had on income presentation in 2008-2012." I am too flabbergasted to respond. Do they want my "feelings" or actual proof of the devastation they caused! I am sure it needs to be less than 500 words!

Jim Blaine said...

Thought about just mailing 'em a small mirror in response....?