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| Truly "Lincolnesque"! |
"A BILLION HERE, AND A BILLION THERE, AND PRETTY SOON YOU"RE TALKING ABOUT REAL MONEY."
- SENATOR EVERETT DIRKSEN
(R-ILLINOIS)
CUToday: "Did NCUA Overpay..." [link]
WSJ: "Nice Payday... "(10/26/12) [link]
Executive Order # 1343:
"Protecting American Taxpayers From Payment of Contingency Fees"
Issued by President Bush
May 16, 2007
In the interest of transparency, did the NCUA meet Section 2, part b of the Executive Order? Which states...
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| Something seems odiferous! |
"Sect. 2(b): After the date of this order, no agency shall enter into a contingency fee agreement for legal or expert witness services addressed by section 1 of this order, unless the Attorney General has determined that the agency's entry into the agreement is required by law."
Might be an excellent assignment for Dan or Jim to ask on behalf of all CU members (who are American taxpayers!) if this was a fair deal!
****UPDATE... LET ME ADD ONE MORE LINK FOR YOU TO READ FROM FRANK DIEKMANN AT CUTODAY ON THIS TOPIC... AGAIN WHERE ARE OUR LEADERS JIM NUSSLE AND DAN BERGER?
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| The sitting ducks!!! NAFCU/CUNA BOARD MEMBERS! |
WHERE ARE THE BOARD MEMBERS OF NAFCU AND CUNA (get off your A's and do something!!!)...
... WHO SHOULD BE PUBLICLY DEMANDING THAT THEIR ASSOCIATIONS DEMAND SOME FACTS AND ANSWERS ON THIS ISSUE...
5 comments:
Jim - This is what happens when too many people have no skin in the game. It's easy to play with other people's money; especially when it makes your nine to five job easier via outsourcing.
This really is far beyond the scale, magnitude and scope of the Wells-Fargo scandal. Two very small law firms have fleeced one hundred MILLION credit union members due to the lack of competency and acumen in contract negotiation at NCUA. This gross negligence is beyond reproach. Unconscious incompetents (don't know what they don't know).
How did we not know about this?
Fenner's former workmate and friend gets the huge and illegal payday at the expense of credit unions and their members?
Is this a joke?
Incompetent supervision of corporate credit unions leads to billions of losses and NCUA breaks executive order and goes the more costly (to credit unions) route with lawyer friends?
You can't make this up!
And the article's prediction becomes true!
We paid 23% to "win" $5B and another agency paid 2% to win BILLIONS more than us?
Who has our back?
NCUA?
Cuna?
NAFCU?
Mc Water?
Congress?
Monday morning quarterbacks. The credit union industry, with its share of crooks and embezzlers, along with CEO's earning salaries, benefits and pensions that no one knows about because there is no disclosure. The holier than thou attitude. The ones who ran for cover when their house of cards started to fall. The ones who grabbed every buck they could but said not me when the finger was pointed at those who caused the problem. Never enough for the cry babies of the financial sector.
The days when credit unions wore the white hat were over years ago.
"Courtesy"pay.
Risk based lending, etc.
Huge salaries...btw, take the annual compensation of Halleck, Maus, others as a % their cu total income.
Then do the same simple calculation for the CEO of Wells Fargo and JPM.
Then grab a bucket to puke in if you're a "believer".
So yes the hat went dark a long time ago.
BUT...
...this story is beyond the pale. We was robbed by our own regulator...TWICE. Once in supervising wescorp and then a second time with a 23 point fee as NCUA so proudly held the bank "accountable".
Looks like we need a lawyer.
Or a Congress.
What you need is to quit whining. Some would bitch if it was, 20, 15 or 10 because credit union officials always need something to complain about because they feel they are always being picked on and getting the short end of the stick. Grow up guys and get a pair. Take on the bank boys that are always kicking you in the ass instead of complaining about your regulator. You guys want FDIC or the Comptroller? You have no idea how they would be down your throats and maybe look at some of the crap you are getting away with. Do the job you always claim to be doing and take care of your members. Maybe you can take them to your next Disneyland conference.
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