Friday, January 31, 2014

Honoring Pete Seeger....

For Pete's sake !
Someone recently mentioned "another little known fact" about the new NCUA risk-based capital rule - the importance of the release date!

Had you heard that NCUA timed the release date of the rule to honor the passing of legendary folk singer Pete Seeger? I hadn't heard that one either!

Was surprised because as you know, NCUA is not exactly famous for its' folksiness, positive "kumbayah attitude", nor its' populist, progressive, empowerment approach to human relations (... to put it mildly!).

So, what's the deal?  Evidently the "powers-that-be" at NCUA greatly admired Pete Seeger's song writing abilities. Given the new capital rule and the threatened $2-million
 "Achtung!" 5300 report late fee , looks like the theme song at the Agency may be Seeger's classic original.... 


("I'd hammer in the morning, I'd hammer in the evening, all across this land!")

(...wish they could get beyond that first verse and spend a little more time on the part about justice and freedom, don't you?)


Anonymous said...

Pete Seeger's great friend Woody Guthrie must have had NCUA in mind too with that famous inscription carved into his guitar "This Machine Kills Fascists".

44Rp said...

Pete brought about some very good changes; although I am not in agreement of everything that Pete stood for, I am a big fan of the way he brought about positive change. He was a big proponent of the power of individuals and not relying on big entities to get things done.

For those of you that are waiting on CUNA to make things better; and to correct any of this nonsense from the NCUA - stop waiting and relying on CUNA. CUNA will not make a difference here.

Write a comment letter on the new capital rules proposal.

Protest with letters to CU industry publications.

If enough individuals comment on this and there is a public record of these comments. There will be a need for discussion which may lead to a positive change.

Maybe I'm just dreaming here, and hoping that this mess that NCUA is leading us into can be cleaned up and made better. One can only hope it can be done. Years ago, no one would have thought the Hudson River would ever be cleaned up, but the power of individuals made it happen.