Give NCUA Enough Rope...
This article ("Industry To Fight New NCUA Power Grab," CU Journal Daily Briefing, Dec. 9) had me pulling out my Lucky Mojo Curio card of St. Jude, the Patron Saint of "Lost Causes" and rolling my eyes over "much ado about nothing."
CUNA's complaint about NCUA's "power grab" is understandable, however. Being more and more the special interest lobbyist, and less and less the national representative of natural person credit unions, CUNA fails to appreciate the art and professional craft of "publicity" Ms. Matz employed here. By asking Congress for something that has been given-the power to pursue wrong-doers over a longer period of time-she has implied that NCUA is going to do something without actually saying they are going to do it.
The FDIC, SEC and Department of Justice were all given similar Congressional "power boosts" to pursue wrong-doers throughout the financial industry, and the best they've been able to do so far is determine someone "Madoff" with our money and "we're still looking for them." Just don't mention that among the wrong-doers are those looking for them, which really makes exercising this power boost "complicated," if not suicidal.
So, CUNA, if you want NCUA to exercise less power, then let them have more and then worry them about hanging themselves with the extra rope. That would be the artistic and crafty approach of a good publicist representing its true constituency of natural person credit unions. Besides, haven't you heard? The "L" word no longer describes a profession honest people want to admit being part of.
Michael Dillon, VP-marketing
South Division CU, Evergreen Park, Ill.