The Real Reasons For InACTion at the NCUA...???

Why isn't the NCUA senior staff ever "ahead of the game" in the financial regulatory world? 

Why are they always the last - if ever - to finalize those rules which truly are important and critical to the safety and soundness - and long term viability - of the credit union movement?

Well, have you ever heard of the Microcosmographia Academica? (here's the link) (Yeah, I thought not... See what you can "learn" reading a blog!)  

The MA was a pamphlet published by F.M. Cornford in 1908 to explain academic politics to new, ambitious young professors. Several of the MA axioms most definitely apply to certain unnamed, senior, independent federal "agencieers"!

For example:

A

1. The Principle of the Wedge is that you should not act justly now for fear of raising expectations that you may act still more justly in the future, which expectations you are afraid you will not have the courage to satisfy.

C

2. The Principle of the Dangerous Precedent is that you should not now do an admittedly right action for fear you, or your equally timid successors, would not have the courage to do right in some future case which is essentially different, but which superficially resembles the present one.

T

3. The Principle of Discipline is that there must be rules. Agency senior staff must never be troubled with having to think whether this or that ought to be done or not; it should be settled by the rules. Plainly, the more rules you can invent the less need there will be to waste time puzzling over what is right or wrong.

A

4. Corollary #1: Every public action which is not customary, either is wrong, or if right, sets a dangerous precedent.

C

5. Corollary #2: Nothing should ever be done for the first time.

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6. Corollary #3: The "system" exists to distribute patronage to those of its employees who have adhered immovably to the "principles" of the agency.

A

7. Corollary #4: Advancement may best be acquired by "sitting tight".

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8. Corollary #5: In evaluating a decision, there is only one argument for doing something, but it is always easy to manufacture a multitude of arguments against.

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9. Corollary #6: In making a decision, "the time is never ripe" for the agency - and based on the 3 principles above never will be!

BUT, THESE "PRINCIPLES AND RULES" DO NOT APPLY
 TO THE NCUA BOARD... 
HOPEFULLY!

ACCOUNTABILITY - COMPETENCY - TRANSPARENCY

"ACT"... The Time Is Ripe!