Friday, February 13, 2015

Telling A Larry... Part II

"The truth, the whole truth,
and nothing but the truth..."

Let's turn once again to the testimony before Congress this week of Mr. Larry Fazio, a very important, senior muckedty-muck over at the NCUA.  

Let's do a little quiz - OK?  Here are 5 direct quotes which Mr. Fazio delivered earnestly, forthrightly, and with a completely straight face. From your actual personal experience with the NCUA, please rate each statement below in terms of truthfulness. Got it?

1)  "NCUA is ever mindful of the impact of regulations on credit unions, especially smaller ones."  a) True, b) False, c) THATS A LARRY!

NCUA's long-standing rolling, regulatory review process helps ensure NCUA's regulations:

2) "Impose only the minimum required burdens on credit unions, their members, and the public."  a) True, b) False, c) THAT'S A LARRY!

3)  "Are appropriate for the size of the credit unions regulated by NCUA." a) True, b) False, c) THAT'S A LARRY!

4)  "Are issued only after full public participation in the rule making process." a) True, b) False, c) THAT'S A LARRY!

And, everyone's #1 favorite...

"I came, I saw,
I larry-ed.."

5)  "Are clear and understandable." a) True, b) False, 


(Hate to ask again, but how you making out with the "clear and understandable" 450-page RBC rule? C'mon tell the truth, don't give me no larry!)


Anonymous said...

I guess Lying Larry had his fingers crossed when he took the oath prior to giving testimony?

Anonymous said...


"Say it over and over again and you too will believe"

Anonymous said...

Beading RBC2 is like reading 50 Shades of Grey without the sex. Boring!

Jim Blaine said...

Not sure which RBC draft you are reading, but my copy has lots of shades of gray in it...

Anonymous said...

Larry! Larry! Pants on Fine!

Castaways to remake their 1965 almost hit?

Anonymous said...

Mr. Fazio testified in Washington, DC but the strings on his arms extended to Alexandria, VA.

Anonymous said...

Once you tell one Larry, it is hard to stop!

Anonymous said...

Did Larry get a new position at NCUA?

"Chief of the Office of Obfuscation"

Anonymous said...

What will be interesting to see is what the strategy of the two trade organizations will be after this round of hearings. Will they just comment to show their members that they are doing something to earn their dues or will they actually push further and harder for Congress to do something?