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| "We can't fix it, if you don't tell us about it." |
Was trying to think of the one phrase, the one word which might best describe the high level of anger and frustration which the proposed RBC rule has generated across the Country.
Perhaps the adjective which best captures how most folks view the RBC rule - and those who drafted it - is...
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| You Can't Fix Imbecilic! |
im -/ BASEL -/ lic
(Say it slowly; it will come to you.)
(Say it slowly; it will come to you.)
- adj., remotely derived fom the BIS/Swiss city, meaning lacking in thought and logic; silly, inappropriate, not intelligently formed; not to industry standard, nor worthy of a second comment; synonym - see "robust".
1 comment:
A credit union down the road with more than 2X the current required capital has been hounded by NCUA for just about everything. Down the street from them is a bank with 6% capital. The regulator loves the bank... they get to do pretty much what they want and are a virtual money making machine. So the CU queries it's member and asks them.. "what's the difference between a bank and a cu?" The vast majority say they don't know.... So the question put to the board was: Why are we a CU? I imagine there are a lot of those conversations going on around the country!
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