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| Worldly wise... |
They took their time because "getting it right" is critical for the U.S. and global economies, because finance drives growth, when executed prudently.
These regulators' meticulous, scrupulous, conscientious efforts were well-documented in innumerable professional conferences, public dialogues, and scholarly papers. The new regulations were finally formulated and implemented in 2013, well before NCUA senior staff crafted their now infamous - and roundly ridiculed - risk-based capital (RBC) rule for credit unions.
The technical data, the painstaking research, the excruciating results of the arduous debate were all readily available as a guide for the NCUA rule-crafters, but...
THE NCUA RBC RULE DRAFTERS FLUNKED
AN OPEN BOOK TEST !!
Which, of course, leads to the crucial question:
"Does the Agency have...
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| Clear signal? |
... enough "bandwidth"?"
8 comments:
NCUA threw us under their short bus with RBC.
It was mighty decent of Ms. Matz to write to 350 members of Congress and admit she didn't know what she was doing.
Think Congress already knew that
Vote for rational government on Nov 4th and make sure Matz catches a bus out.
Doubt even with a rational government vote on Nov 4th will Matz catch the bus? Her career is a list of patronage positions earned by her and her husbands political activities.
Because credit unions fund the NCUA through member supported fees and not tax dollars, any NCUA Board member should have real world experience in financial matters and the industry should have more input into the Board member selection. If you would not hire a person lacking experience to run your credit union, why would consider hiring incompetent people for the NCUA board?
Your members pay for NCUA and their interest are not being protected by industry leaders charged with protecting their interests.
Give Ms. Matz a break. Her biggest weakness is the "bandwidth" of her senior staff.
Take a look at their credentials compared to their peers at Fed, FDIC.... third string or less at best.
Send in the clowns!
"Don't bother, they're here."
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