National Politics 2016...!

THE NATIONAL POLITICAL DIALOGUE

KINDA MAKES YOU SICK,

DOESN'T IT !

☟

News Flash!

 

The National Enquirer is purported to be preparing the release of yet another blockbuster news story - this one affecting credit unions!

A pre-publication sneak preview of the expose indicates that long time credit union CEO Jim Blaine has threatened to retire unless NCUA Chair Debbie Matz immediately withdraws her announcement to leave the NCUA at the end of this month.

In the article, Blaine is quoted as saying...

Unauthorized Withdrawals.... Helmet Heads

"I would like to request
a cash advance..."

When working for a financial institution, the occasional "hold-up" is one of the professional facts of life we all encounter. Fortunately credit union robberies are relatively rare events; and, although extremely frightening, are usually over quickly with little harm done. Except for... the shattered nerves and emotional roller-coaster for the staff which are always difficult and wrenching aftershocks....

We always try to make the robber understand that our goal is to provide the best, most exemplary "customer" service possible. Whatever you need the answer is "yes"; and, you will also receive the fastest, most courteous service imaginable - because we want you happily out of there as quickly as possible !! 

But, sometimes a concern over the "unprofessionalism" of the robber makes us hold our breaths.  The robber has responsibilities to live up to also, if everything is to go as it should.  We had one of those moments of doubt not too long ago in the midst of "an unauthorized withdrawal event"....

"Would you like to see
my I.D. ?"
"No, no that's OK..."

The robber came into the branch wearing a dark-shaded motorcycle helmet and displaying a silver hand gun.  He was a bit overweight; our staff froze to attention.  As he leaped over the teller counter, he accidentally dropped his pistol.  So, here we go with him on one side of the counter and his pistol on the floor on the other side of the counter....

NCUA Board: National Leadership Search...

.... reckless selection
 process?

Hope you've been thinking about the critical importance of the upcoming two vacancies on the NCUA Board.  

In the past, appointments to these seats were not principally awarded based upon ability, knowledge, nor competence. Historically, the NCUA Board seats were considered "political plum" positions to be awarded to the party faithful, quite often as a "plush capstone perk" for a not-necessarily-qualified nor gifted, career federal employee.  

Nothing can "shape up" a federal pension quite like a six-year appointment to a $150,000 position - assuming you can put up with the frequent resort travel and the Kafkaesque disdain for transparency and accountability!

But with 100 million Americans now being member-owners of credit unions, with over $1 TRILLION of hard-earned savings at stake...

... and with every "OMG" misstep being 

"backed by the full faith and credit of 

you and me!!.....

Isn't it past time for two experienced, moderate national leaders on the NCUA Board?...

"Small" Credit Unions: "Intertwined" in American Communities…?

ABA Boinkers News

I used "to sneak" access (still do!) to the ABA Bankers News for two important reasons. 

First, to try and stay attuned to the national issues - other than "those demonic credit unions"! - which were of the greatest concern to America's bankers - "know your adversaries" is generally excellent advice in the fields of business, politics, and love.  

And second, to have the chance to read the column of the then editor, Virginia Dean.  Ms. Dean was an entertaining, insightful writer with a a wicked sense of humor.  In one column, Ms. Dean did a riff off Jim Collins - the "Good to Great" guru - who was putting the finishing touches on a new book seeking to measure performance in the non-profit sector - a daunting task! Here's what Mr. Collins ended up with:   

"In the social sectors, the critical question is not, 'How much money do we make per dollar of invested capital?' but 'How effectively do we deliver on our mission and make a distinctive impact relative to our resources?'"

"The number one resource for a great social sector organization is having enough of the right people willing to commit themselves to the mission."

Collins maintains that "the right people" are "productively neurotic" and wake up every day, compulsively driven to do the best they can because it is simply part of their DNA."

Sounds about right to me!  There has been substantial back-and-forth recently on the ineffectiveness, lack of efficiency, inability to compete, idealistic "La-la land" backwardness  of "small credit unions". To which I'd like to respond to those smug little naysayers with this one simple statement…

  "You don't know how to count, nor do you know what counts."

And BTW, why do I admire Ms. Dean as a writer so much?  Here's how she describes the critical importance to Main Street America of "less than large" financial institutions ...

Political Alert: Credit Unions Drive Banks From Marketplace!

FROM THE WALL STREET JOURNAL:

(March 19, 2016)

"J.P. Morgan Culls Wealthy Herd"

"J.P. Morgan Chase & Co. is making its private bank even more private.  Clients of the firm's private bank later this year will be required to have at least $10 million in investible assets...."

The new "unbanked"?  What will these folks do now that they've lost access to affordable, "life-line banking" services at Chase? To whom can they now turn for financial help - payday lenders, title loan companies, check cashers? The "upper, upper, middle wealthy" class have been forced off Wall Street and back on to Main Street - how degrading, how humiliating!

Somebody call the Doctor
for help!

Who can doubt that this move by Chase is irrefutable evidence of the harmful results which will arise from NCUA's recently proposed field of membership rule? Further proof of the unintended consequences for "the formerly wealthy" which arise from trying to better serve the "not yet wealthy".      

Look for this move by Chase away from the "you only thought you were wealthy" class to be used by the ABA (American Boinkers Association) against credit unions on Capitol Hill 
claiming ...

Can You Count To...

... FOUR?

Southern Culture.... Election 2016!

The Senate and ...
the house.

Maybe it's a little silly to talk about "Southern Culture" when most of y'all think we're a bunch of "ruby throats".  But you really need to understand, that in the South - "down y'here"; there comes a time, when you just have to ...

Value Proposition....

"Price is what you pay, value is what you get."

- Warren Buffet

Fan/Fred Freakonomics...

Quote of the Week:

Rep. Hensarling

"When asked his view about the government's now large potential profit from the Fannie Mae and Freddie Mac takeovers of 2008; Jeb Hensarling (R-Tx), Chair of the House Financial Services Committee said:"

"If you gave me a monopoly and a printing press [with an unlimited power to print money]..."