On Bald Guys and Debates. . .

October 4, 2012 at 7:00 am Leave a comment

I just finished watching the Presidential Debate and I have to say, as someone who has developed an increasingly jaded view of a political system that reduces otherwise intelligent people to making simplistic assertions in answer to complicated questions in order to pander to the greatest number of people, I bet tonight’s debate goes down as one of the most substantive presidential debates we’ve had.  In my dream world, Jim Lehrer would have asked the following question:  Four years ago to the day, Congress passed the Troubled Asset Relief Program (TARP), in which it committed $760 billion to prop up banks.  If either of you were President at the time, would you have supported this program?

Why is this question important?  Because whether you are a Democrat or a Republican, Libertarian or Socialist, we should all recognize this as one of the key moments in our nation’s history and the fact that we don’t is reflected in the financial policy which has so far not produced the type of structural reforms we need for the banking system in order to avoid a repeat performance.

So, why was I encouraged by the debate?  Because the President reiterated to the American public the absurdity of arguing that too much rather than too little regulation was behind the financial crisis and Governor Romney responded not by reflexively damning all of Dodd-Frank but instead pointed out that one of its defects has been to create regulatory uncertainty.  He even pointed to the lack of clear regulations as to what constitutes a qualified mortgage as an example of the type of unintended consequences that Dodd-Frank has created.  This exchange may have taken up about 1 minute in an hour and one-half debate, but the fact that it even made it into the discussion shows that the message of regulatory uncertainty is starting to get through.  It’s not as good as my question, but I’ll take it.

Bald Guys Rock

Scientific research has now confirmed what my wife and millions of others like her have known for several years now:  bald guys should rule the world.  Ok, so I am exaggerating a little, but that’s the basic idea.

According to a report in the Wall Street Journal “men with shaved heads are perceived to be more masculine, dominant and, in some cases, to have greater leadership potential than those with longer locks or with thinning hair, according to a recent study out of the University of Pennsylvania’s Wharton School.”

I once shaved my head, but it’s just not a good idea for a middle-aged guy to look that menacing.  Maybe I’ll reconsider.

NCUA to host virtual town hall meeting today

As of yesterday afternoon, NCUA was still encouraging people to sign up and e-mail questions to Chairwoman Matz and participate in a national town hall meeting on credit union issues today.  I would take advantage of the opportunity and listen in.  While we can all disagree with some of its decisions, NCUA deserves credit for telling credit unions exactly what it is planning to do and why.






Entry filed under: General, Political, Regulatory. Tags: , , , , , .

Is Your Credit Union Just Paying Lip Service To Compliance? What Can Be Gleaned From The Town Hall Meeting?

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Authored By:

Henry Meier, Esq., General Counsel, New York Credit Union Association.

The views Henry expresses are Henry’s alone and do not necessarily reflect the views of the Association.

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