 |
NCUA's "Peer Group" |
"NCUA's budget process is deliberate and meticulous."
Ms. Debbie Matz
Well okay, let's take a look at how the FDIC - the only other provider of federal deposit insurance - managed its budget for 2015.
Probably isn't fair to draw any comparisons between the NCUA and the FDIC....
 |
| Credit Union finance class! |
 |
| Cash flow at problem banks! |
With all that going on, not too hard to imagine how the 2015 budget for the FDIC was going to look - right? Take a look...
FDIC Total Budgeted Amount: $2.32 billion - down 3% from 2014.
 |
| WOW! |
And according to Mr. Marty Gruenberg, the Ms. Matz of the FDIC: "This is the fifth consecutive reduction in the FDIC's operating budget. As the U.S. banking industry continues to recover, we remain focused on our mission responsibilities, while prudently managing costs."
Then again, comparisons with the FDIC would be unfair, wouldn't they? After all, NCUA, as "an independent federal agency", is a power unto itself and operates in a private little world all its own - unaccountable, unchallengeable... unfathomable!
But then...
- William Shakespeare
"Julius Caesar"
6 comments:
Mr. Gruenberg has a resume that far exceeds that of Ms. Matz! Ms. Matz just does not have the skill sets to lead the credit union kindergarten or any other kindergarten for that matter. She is a professional political class leach! Her husband's works on political campaigns and Queen Deb gets a cushy administrative job when his candidate wins. It is one thing when tax dollars get wasted on an incompetent, but credit union members pay for Ms. Matz's limited abilities.
A monarchy has absolute power and someone told this administration and those they put in positions of power, to ignore the will of the people and do what you, with your sovereign power believe to be the right course of action. Ignore the shouting of the knaves for you sit on the throne and they not dare to over step their bounds for it will be off with their heads.
Has the NCUA budget also gone down over the last few years?
Can't you just wait for this years budget? Will the Queen stick with her edict of no budget hearings while I am Chairman? Will the Professor lead the charge of the light brigade and demand open and public discussion of the budget? Will the Vice Chairman hide in the corner and wait for the Queen to give him his script to read? Will the staff put the smoke and mirrors gadgetry out of the closet for another round of Penn and Teller? Will Congress demand an explanation why NCUA refuses to discuss how they spend the money of an industry with no accountability for what or how they spend? Stay tuned boys and girls, the fall season of drama will soon be upon us.
The NCUA is pushing expenses to the various funds they "manage." Expenses keep going up in a consolidating industry which is obscene. Chairman Matz will be responsible for ruining the credit union movement. She will be rated even lower than Norm D'Amours. Congratulations, or something.
I think she is already rated lower than Norm -- and I really don't think she cares...
Post a Comment