Wednesday, December 21, 2016

What Does Mulvaney Have To Do With This?

A "senior moment" when
you are only 30...?!?
 Seems like some "millennials" are having difficulty with memory lapses - really fear for you as you get older, if your short term memory is already "kaput"!

So, the question posed was: "Why do you think Rep. Mick Mulvaney has "a problem" with NCUA?"

Last year in July, the Chair of NCUA, Ms. Matz, appeared before a Congressional hearing conducted by the House Financial Services Committee - kinda' like being called to the principal's office in middle school! And, NCUA and the entire credit union movement really  "got spanked"! 

Mr. Mulvaney's questioning was most excruciating and excoriating, as you can see...

... and then it got worse...

"Would you prefer for NCUA to be "on budget"..."

[I'd try to forget about it too, if I were you!... But, Mulvaney won't!]


Greg said...

What a joke. Now she is on the board of a big bank. I'm sure at their first board meeting they looked at each other and said "What the hell, how much are we paying her!"

Off subject, great article about the CFPB by Robert L. Rubin.

I sure hope Mulvaney gets in there and destroys the CFPB and then lays down the law on the incompetent NCUA and their team of bureaucrats.

Finally, some real hope out there in the land of opportunity!

Anonymous said...

Why did CUNA support the CFPB at inception?

Anonymous said...

Greg, It will get worse before it gets better. REAL HOPE? We tried that a couple of presidential elections ago and look how well that worked out for the gang. This blog is great and comments are pithy. It makes us all feel warm. So does pissing against the wind. Same result. Same outcome. There is light at the end of the tunnel - it is the NCUA train & the wreck is soon on approach. Budget for the assessments every year moving forward. NCUA expenses exceed NCUSIF investment income. The only way the NCUA can create more income is assessments. Interest income on the NCUSIF fund won't cover the expenses - especially when they go long and report huge unrealized losses. They must be listening to there own Capital Market Specialists! Stuck on Stupid. You can't fix that.

Jim Blaine said...

Bah Humbug! I'm still betting on the current NCUA Board with McWatters as Chair to "lead us up out of Egypt"!!!

After all it is the season of hope....