Tuesday, December 06, 2016

The NCUA Budget: Easy Money... Part 5

Gripe, gripe, gripe! Whine, whine, whine!!!
Yak, yak, yak!!

Alright then, here's an offer that the NCUA Board can't refuse!

(Probably some jackass!)

A blogger who wishes to keep his identity secret will:

1) Agree to manage the NCUSIF for one year from December 15, 2016 to December 15, 2017. [After approval at the scheduled NCUA December Board meeting!] 

2) Will manage the portfolio under current NCUSIF statutory investment authority, without any request for expansion of existing statutory restrictions.

3) Will increase NCUSIF portfolio earnings by $100 million in calendar year 2017, over and above NCUA senior staff projections. [That would be about a 33% increase on return on investment (ROI)!]

4) Agrees not to mix with nor infect any NCUA robusterians with whom he may need to converse. [Nor say "nah, nah, nah" or give "signals with his hands".]

and also...

5) Agrees to be compensated on a "contingency fee" basis similar to the contingency legal fee agreements already approved by the NCUA OGC in 2012. [But in the spirit of fairness, is willing to lower the fee to only 10% of gains over $100 million (not to exceed say $1 billion) rather than the 25%+ fees approved for the legal beagles.]

Easy Money!

Mr. Chair, ready to "ACT"
 on your behalf and for all credit unions.
 Feeling fiduciary! 

[Wouldn't increasing NCUSIF earnings by $100 million 
in 2017 be the "fiduciary thing" to do?]


Anonymous said...

Now you are talking! Experienced and knowledgeable and willing to do the job. Think about it for a minute. Goes up great. Goes down and Jim does not complain about investments in the NCUSIF anymore. NCUA this is a win-win proposition for you.

Anonymous said...

NO WAY they take the offer as it would show that NCUA senior staff has been wrong for YEARS. Wait until Fryzel pushes McWatters aside and anoints himself as chairman of the NCUA board so he can claim credit for everything again. MAKE AMERICA GREAT AGAIN by bringing back retreads. I'd let Blaine do it in a NC minute (just a tad slower than a NY minute).