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| "We didn't say that, we said..." |
"We were well aware that the risk-based capital (RBC) rule needed many adjustments. When issued, it was meant to be a "trial balloon" to gauge credit union industry support ..."
Good thinking, brilliant strategy, nice "balloon"....
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| ... course it did create "a wee bit of wreckage". |
3 comments:
Nothing but NCUA moonshine!
Will NCUA accept the "trial balloon" excuse if we invest heavily in 5 yr. bonds today, and we wake up tomorrow with all rates from the overnight rate to the 30 yr UST miraculously up 300 bps?
W. Magnus
Would feel that some of my prayers had been answered if the "real" credit union Will Magnus was "back in the game" on RBC!
For those who don't know, it's a long story of honest, highly intelligent analyses of the corporates - before they blew up. "Unrealized gains" was the blog site - now departed.
Here's hoping...
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