KNOW YOU ARE ALL FAMILIAR WITH THIS FAMOUS QUOTE:
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| Brained-hair !!! |
"Insanity: Doing the same thing over and over again and expecting different results."
- Albert Einstein
So, consider this: Who is...
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| Is this a trick question? |
... reworking the risk-based capital (RBC) rule which they originally mis-wrote?
(And, as Dr. Einstein also noted: "You can never solve a problem on the level at which it was created.")
3 comments:
Of greater consequence is providing a solution to nonexistent problem.
NCUA will not allow the problem to be solved "at the same level". The people now working at the "new" RBC will be the same people responsible for the "old" RBC but will have different titles and big raises and therefore (in NCUA's mind)be higher level, more experienced staff.
The NCUA can and will call upon the experts on the NCUA payroll. Capital Market Specialists & all those folks responsible for the safety and soundness of capital and net worth at the Corporate Credit Unions - they managed those so robustly. Managed 'em robustly into conservatorship and liquidation. Depleted, Exhausted & Extinguished. Expect more of the same from the NEW & IMPROVED RBC. It will be neither NEW. It will certainly not be IMPROVED.
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