BankThink

By the time credit unions get to Washington in late February for CUNA's GAC, there may not be any room for them. That's because, as the new year begins, it's hard to find anyone or any special interest who isn't currently in DC with their palms up seeking a bailout or a handout or even the scraps that might fall off the table.

There´s no place like home - especially if your name is IndyMac. The California thrift, which the Federal Deposit Insurance Corp. is close to selling, looks like it could stay under the watchful eye of its old regulator: the Office of Thrift Supervision.

Few are brave enough to sue the government, as we´ve discussed before, but it did seem like just a matter of time before someone went after the Treasury Department. Whatever else Secretary Henry Paulson has done to prevent financial Armageddon, he hasn´t kept the Treasury´s public image above the foreclosure fray. Mr. Paulson, meet Thomas R. Harberson.

It hasn´t been easy for consumers-even the wealthiest, most financially savvy ones-to figure out where the safest place to put their money is these days. News of Bernard Madoff´s $50 billion ponzi scheme has only made discerning the good investment advisors from the bad more difficult.

An OTS Carol

During the current economic recession, recent studies reported that Americans spent less on gift cards this holiday season. Moreover with companies closing stores or going out of business altogether, there's a sense of "buyer beware" for gift card holders who usually opted for this popular gift.

Credit unions have always been the right financial solution in times of economic and social crisis for common men and women, helping members sustain their income, protect their assets and strengthen their communities. At World Council of Credit Unions (WOCCU), we have seen credit unions provide working people all over the world with a source of economic empowerment and hope, often under uncommon circumstances.

It comes each year and I know you fear, but again I turn to rhyme

The tall, athletic man who served this year as negotiator, visionary and ruthless executor of a tangled government rescue is getting a grand tip of the hat from Time magazine. But he´s still in second place.

It may be the week before Christmas, but there are still plenty of stirrings on the banking scene in Washington, and BankThink suspects that those whom the financial crisis has left sleep-deprived will have to power through a few more days before taking a break.